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Industry experts examine the perks and pitfalls of cybersecurity in Australia

By Sara Barker
Thu 1 Sep 2016
FYI, this story is more than a year old

The ANZ Security Round Table at the Shangri-La Hotel in Sydney today is small but strong as industry heavyweights are set to discuss the perks and pitfalls of cybersecurity.

The round table, chaired by Tech Research Asia director Tim Dillon, brings together Cylance regional director Andy SolterbeckMatrium Technologies director- Business and Technology Trent Owens; Menlo Security Asia-Pacific managing director Stephanie Boo; and Verizon Asia-Pacific senior consultant Aaron Sharp.

Dillon opened the round table with comments saying that there has been a fourfold increase in ransomware attacks, via two different methods - desktop and smartphone.

Solterbeck commented that current approaches to cybersecurity are not working and that it's not changing the risk profile. 

From there, the debate is unfolding a complex world and the restrictions of cybersecurity that should not just be limited to IT departments but organisations as a whole. Boo says that education can help, but it won't do much because "you do not know what you do not know". 

Solterbeck said that there are three sets of malware, but ransomware isn't where the real problem is.When 60% of customers have malware that is single-site and doesn't exist anywhere on the network, then it is not as major as issues that can get their way into the network.

He continued to say that zero-day and targeted attacks are the more worrying concerns, while Owens pointed out that there is no consistent security profile, because it exists in pockets. 

Instead of having a million different solutions for a million different areas, Solterbeck was confident that managed security service providers (MSSPs) will be of immense help to SMBs and organisations wanting to control their cybersecurity.

Sharp mentioned that organisations have a false sense of security in cyberinsurance so far, as some policies provide generalised, blanket coverage that doesn't fit with individual needs. The discussion then headed into what cyberinsurance should entail - detailed checklists and criteria were two that stood out as customisation options.  

Both Cylance and Menlo Security have recently moved into the Australian cybersecurity market as well as the APAC as a whole. The companies will continue to invest in Australia and they have big plans to increase uptake both across their channels and customers. So to echo Boo's sentiments: what do we know? The world wide web has become the wild wild west. Cybersecurity is a very big problem, but there are undoubtedly answers on the scene in Australia and across the globe.

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