Sunday, Dec 15, 2019 | Last Update : 04:24 PM IST

Cybercrimes have become a business issue: Expert

THE ASIAN AGE.
Published : Dec 15, 2017, 12:45 am IST
Updated : Dec 15, 2017, 12:45 am IST

Traditional methods such as antivirus, firewalls no longer effective.

The year, 2017, witnessed  a variety of cybercrime spanning from malware attacks to data breaches — Equifax, Deloitte and Verizon being the most notable firms to face breaches while Maersk, Merck, and FedEx were victims of ransomware.
 The year, 2017, witnessed a variety of cybercrime spanning from malware attacks to data breaches — Equifax, Deloitte and Verizon being the most notable firms to face breaches while Maersk, Merck, and FedEx were victims of ransomware.

Hyderabad: In wake of recent cyber attacks, the issue of cyber security has developed into a business problem from being just a technical one, a top Microsoft official said here on Thursday.

Speaking at a Microsoft event, Digital Crimes Unit regional director Keshav Dhakad said, “Cyber security is no longer just a technical issue but has evolved into a business one. Recent attacks gave us a glimpse of how cyber attacks can affect the operations of a business.”

The year, 2017, witnessed  a variety of cybercrime spanning from malware attacks to data breaches — Equifax, Deloitte and Verizon being the most notable firms to face breaches while Maersk, Merck, and FedEx were victims of ransomware.

Data breaches can lead to loss of crucial data causing damage to its reputation and its business.

With cybercriminals continuously adopting newer methods, he urged businesses to also adopt modern tools such as analytics and big data to fight cybercrimes. “Cybercrimes have evolved over time and the traditional methods such as antivirus and firewall are no longer enough. Big data, which many are calling as the new oil, can provides us with a tonne of data, but without using analytics it would be equivalent to finding a needle in a haystack. Analytics can help fine tune the concerns,” said Mr Dhakad.

He added, “Microsoft  has made a considerable amount of investment to set up its Digital Crimes Unit to help fight cyber criminals. Using both big data and analytics, this unit is taking the fight to the criminals.”

The race for technology between criminals and security officers is quite akin to a cat-and-mouse chase. Sometimes the criminals manage to pull one off over the company and vice versa.

In a Forbes article, a cyber security expert said, cyber events are inevitable and may be far more impactful than companies imagine. Technology isn’t failsafe. Humans aren’t infallible.

He added that discussions and retrospectives in the wake of a successful cyber attack shouldn’t focus entirely on patching every vulnerability rather on awareness.

Tags: cyber security, cyber attacks, cyber crime