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Securing digital business

According to research by Lloyd’s and Juniper Research, the global cost of handling cyberattacks is expected to rise from $400 billion in 2015 to $2.1 trillion by 2019

To thrive as a digital business, you need the flexibility to adapt to changes and stay ahead of the curve. The technology services you need may change over time, or may vary across different areas of your environment.

According to research by Lloyd’s and Juniper Research, the global cost of handling cyberattacks is expected to rise from $400 billion in 2015 to $2.1 trillion by 2019.

The here and now… and what’s to come

Today’s enterprises are beginning to see the opportunities of the future coming into focus, but many are still trying to keep legacy systems stable and secure. In the next two to five years, entirely new ways of storing, sharing and using data will require a major shift in how enterprise think about identify, value and security. Over the next 10 years and beyond, enterprises will evolve rapidly, taking full advantages of opportunities for digital innovation, and working together to secure the clouds of data that have become essential for business and daily life.

Cybersecurity in Asia Pacific

The financial services industry has always been a target for cybercriminals, but with technological innovations like AI transforming the future of fintech, targeted attacks are becoming more and more prevalent. Case in point: According to research conducting in the cybercriminal underground earlier this year featured in Forbes, actors from Asia Pacific are highly active in carding activities (the trafficking of credit card and bank account details). The article noted:

The tactics, techniques and procedures (TTPs) involved in carding are being shared both in closed groups on Facebook and in deep web forums. Hackers from Bangladesh, Pakistan, India, the Philippines and Indonesia are observed to be the most active in this regard.

‘Carding’ is a form of credit card fraud that typically involves the transfer of funds into a prepaid card, which can then be sold for cash. Cybercriminals that find sites that are vulnerable to SQLi (Structured Query Language injection) can gain access to databases of customers and their card information.

Cybercriminals that find sites vulnerable to SQLi can access customers and card info. Details:

At this point, it’s clear that creating a fixed technology infrastructure or strategy doesn’t just make sense – it’s a necessity. Applications and infrastructure are now being built with an agile mindset, able to be adapted quickly to presupposed not originally conceived of by their coders. The cloud promises huge potential for collaboration, and exponential increases in value, speed and efficiency, but brings with it an explosion of potential risks and vulnerabilities.

Cyberattacks abound in the digital age. But as you explore new ways of doing business, you need to balance risk with innovation. We’ll help you transform your network to be both the sensor and the enforcer of your security strategy. You’ll be able to shield your most precious asset, data, in ways that will allow you to risk less and achieve more. Want to learn more about the cyberthreats of tomorrow so you can protect your business today? Contact us to help you secure your business in the digital age.

Neville Burdan

Neville is the General Manager, Security at Dimension Data Asia Pacific