The chief cyber security strategist at Hewlett Packard Enterprise, Tim Grieveson, has issued the warning to encourage companies to protect themselves adequately against the threat of cyberattacks. He believes that understanding the criminals is the key to defeating them.
He has pointed out that there are a number of reasons why the issue of data security has become a challenging one. The variety of different devices in use is a concern because businesses need to have their staff access data while on the move. Additionally, there are a growing number of regulations, which vary across the world, but are essential to follow as companies expand on a global basis. The third reason is that cybercriminals are growing to be more innovative and professional.
The use of one type of ransomware, for example, is thought to have brought in around $325 million for hackers who hold data to ransom. Some cybercriminals have operations on the scale of legitimate businesses, employing sales people, marketers, and even some in R&D.
Mr Grieveson is advising businesses to think of the hackers as competitors, and to do this they need to have in place the right people, the right processes, and strong technology. Examining existing assets is important so that businesses are aware exactly what it is they are trying to protect. A co-ordinated approach throughout the business is essential.