Gauteng Business News

Send  Share  RSS  Twitter  18 Apr 2011

INFOTECH: Cyber War Looms


Recent Gauteng Business News

Global cybercrime is resulting in more sophisticated security attacks and SA is a potential target. Anthony Olivier, a security analyst presenting at the forthcoming ITWeb Security Summit, to be held from 10 – 12 May at the Sandton Convention Centre explains that there's a cyber war hidden in the national interest of information security.

Olivier points to thousands of sensitive documents that were released WikiLeaks followed by pro-WikiLeaks denial-of-service attacks targeted at PayPal, Visa, MasterCard and other organisations.

Last year February saw Google threatening to leave China, after a serious hacking attempt originated from that country, he adds.

Olivier says: “Information security is not just about business; it's an undercover war. What's relevant is in SA, is that there's a fight for resources. The fact we've been invited to BRIC is being seen that SA is key to national interests of large superpowers and this has an impact on cyber security.”

He adds that SA is entering a dangerous cyber crime environment and organisations need to recognise the importance of information security and consequently take a risk-based approach.

The latest Deloitte cyber crime report states that the growth of the threat of cyber crime has outpaced that of other cyber security threats. In many cases, organisations don't even know when their valuable information has been stolen.

“Last year, the White House issued the Cyber Security Policy Review, which profiled the systemic loss of US economic value from intellectual property and data theft in 2008 as high as $1 trillion,” states Deloitte.

According to Deloitte, data is more valuable than money. “Once spent, money is gone, but data can be used and reused to produce more money. The ability to reuse data to access online banking applications, authorise and activate credit cards, or access organisation networks has enabled cyber criminals to create an extensive archive of data for ongoing illicit activities.”

Deloitte advises organisations to prioritise risks and incorporate them into business decision-making processes. In addition, organisations should consider their exposure to cyber crime, current detection, prevention and mitigation capabilities, notes the analyst firm.

The Security Summit - South Africa’s premier ICT security event includes a conference, expo and workshops to inform business managers, CIOs and chief IT security officers about the current and future information security threat landscape.

The spotlight is on security in an increasingly connected world, featuring cloud security, web services and online security, as well as the growing trend to use malicious code for industrial espionage and sabotage.

The Security Summit will feature international speakers from global powerhouses like SalesForce, Google and Zynga Game Network about security strategies that deliver results, with practical insights from leading financial institutions such as Nedbank, Standardbank, Barclays, Absa, and the Co-operative Bank of Kenya. Two days of expert insights and case studies, and hands-on workshops covering cloud security, web application hacking and security metrics.

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