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POINT ROBERTS, Wash., — Investorideas.com, a leading investor news resource covering defense and security stocks issues a snapshot looking at the current cybersecurity landscape and how experts and service providers are shifting companies into a new era of security; beyond a “ bigger wall” mindset.
Investor Ideas turned to cybersecurity expert Roger Cressey at Liberty Group Ventures, LLC for insight into the sector and what is needed to address current and future threats. Cressey was formerly with Booz Allen Hamilton (NYSE: BAH), Good Harbor Consulting, held senior cyber security and counterterrorism positions in the Clinton and Bush Administrations and was an on-air counterterrorism analyst with NBC News.
Cressey said, “We have been very slow on understanding how to integrate cybersecurity into our overall business operations.”
Listen to full interview with Roger Cressey:
According to recent commentary from Consulting.US, “The interest in cybersecurity consultancy is an international phenomenon. Saudi Arabia in June entered into an agreement with Booz Allen Hamilton, which will see the American consulting firm train Saudi cybersecurity experts. In a report that analyzed 158 UK-based cybersecurity start-ups, consulting firm Wavestone found that demand for cybersecurity services rose steeply in 2018.“
VirtualArmour International Inc. (CSE:VAI) (OTC:VTLR), a global cybersecurity and managed services provider, is gearing up to launch a new version of their proprietary CloudCastr client portal and prevention platform, and company CTO, Andrew Douthwaite explains how regulation is healthy for promoting good security.
“The more regulation the better, so we can keep this drive toward good security going forward,” he said.
“One way VirtualArmour has been able to keep clients in the loop with regard to security risks and data, is their Cloudcastrclient portal, a proprietary monitoring and visualization platform.”
Douthwaite explained that the platform provides “…an overview of current threats that are happening, all of the services that we’re offering to that customer, access to our managed service engineers and has other functionalities such as secure file share.”
Douthwaite said that the platform is being updated all the time and that clients can anticipate a 2.0 which will boast even more capabilities.
“Cloudcastr has been continually developed from there, adding new features all the time,” he said. “And we’re going for a new big launch, which is being developed…of Cloudcastr 2.0. It will include a lot of new features, such as reporting, invoicing and some more predictability pieces around the security environment.”
Listen to full interview with CTO Andrew Douthwaite:
According to Accenture (NYSE: ACN), one of the largest cyber consultancy firms, the average cost of malware attack spending and the top cost to companies is $2.4 million and the average time to resolve a malicious insiders attack is 50 days. Their approach; historically, the energy spent on securing data has been focused on building a better “wall.” It’s an approach that no longer works in today’s perimeter-less world where some seven billion connected devices (80 billion by 2025*) have opened a liquid stream of data vulnerable to attack.
“It is time to shift our security posture to focus on a liquid approach to cybersecurity – where strong, immutable identities, hardened data and an ever-changing polymorphic attack surface enable us to move beyond cyber resilience to a constant state of business operations.”
Recent breaking news in the sector; Infocyte, a cybersecurity company focused on proactive threat detection and incident response and Check Point Software Technologies Ltd. (NASDAQ:CHKP), a leading provider of cyber security solutions globally, said they are partnering to deliver faster threat detection and incident response services on compromised hosts. As part of the partnership, Infocyte’s platform, Infocyte HUNT will be integrated with Check Point’s suite of advanced services. Both companies will share threat intelligence to improve their threat detection and incident response capabilities.
Check Point’s recent Cyber Attack Trends Report highlights the growing concern around advanced threats. New forms of malware, cryptominers, ransomware and other cyber-attacks continue to show alarming rates of success across cloud, traditional, and hybrid networks. As cyber-attacks evolve, they become better at penetrating deep into IT networks and hiding from traditional detection technologies. In an effort to fight back, companies are adopting proactive practices like post-breach threat detection and remediation solutions that complement their existing cyber security defenses.
Turning back to how Roger Cressey sees the landscape, he said, “I do think things are starting to evolve and I think there is a higher level of awareness, especially in corporations, that I have not seen in a number of years and that’s encouraging.”
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