Cyber Crime Against Companies – There’s Money to be Made

In a world where more and more business processes are becoming automated, and company communication is more often digital than analog, cybercrime is a growing threat to business bank accounts and business continuity. Simple and yet devastatingly effective cyber attacks are estimated to be costing US companies over $17 million each on average, and UK government researchers found that two thirds of British companies have suffered a cyber attack or breach in the last year. So are businesses really doing all they can to protect their business critical data and systems? 

dotmagazine spoke to Oliver Dehning, CEO of Hornetsecurity and Leader of the eco Competence Group Security, on the topic of what to do about industrial espionage and other cyber threats to companies.  

Listen to the 17-minute interview above, download it for later, or jump to the individual questions here:

1. CEO Fraud is said to be one of the growing IT security trends in 2017. Why has it become so popular as an attack method?

2. So what other types of cyber attacks are companies vulnerable to?
   

3. Is money generally the main motivation?
   

4. What is the value of the data being stolen, and how do you actually define the value of it?

5. What kinds of companies are common targets of attacks?

6. Speaking of advanced persistent threats: Given that they are designed to be undetected for a long period of time, how can a company ascertain that it is under attack?

7. What is your perspective on company security in relation to Bring Your Own Device and shadow IT?

8. Looking for a minute at the Internet of Things, how can manufacturing companies safely make the transition to industrial IoT, and maintain security?

9. Are companies protecting themselves sufficiently?

10. From a technical point of view, the logical consequences to Edward Snowden’s revelations would be the broad use of encryption. But in reality, I think we don’t see this yet. What are the reasons, and what needs to be done to change that?

11. While we are talking about encryption, how do you react to the moves of several governments to ban encryption on the argumentation that it's being used by terrorists? 
    

Please note: The opinions expressed in Industry Insights published by dotmagazine are the author's own and do not reflect the view of the publisher, eco – Association of the Internet Industry.