February 2017 April 2017 Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar
JDA Professional Services, Inc.
Contact Information








Hiring and Retention Resources



Articles > JDA SME (Subject Matter Expert) - The Economics of Network Security
Printer Friendly

JDA SME (Subject Matter Expert) - The Economics of Network Security

Download the whole article here

By Michael Del Monte, JDA Professional Services, Inc.

Submit Resume Submit Job Order

General Overview of the Market

There are two types of companies out there; those who know theyíve been breached, and those who donít. According to FireEye, the median amount of time a hacker is inside a network before theyíre identified is 209 days. For precisely scenarios such as this, network security has become increasingly more of a focal point over the past decade by virtually every company, especially those who store data in mass. From healthcare to energy, properly securing data from threats has been a top priority, especially when it comes to protecting trade secrets and client information. With an increased occurrence of datacenter breaches over the past decade with the addition of the SAFETY act, companies are liable when it comes to information, including customer data, thus sparking a new age of cyber security. This is the era of the faceless, anonymous hackers who now hold the power to bring entire enterprises to their knees without ever being detected. A study conducted by McAfee estimates that the annual cost to the global economy from cybercrime is more than $400 billion, and the total impact could be as high as $575 billion. (McAfee, Inc.) In PwCís report, The Global State of Information Security Survey 2015, the number of detected incidents has increased 48% year over year to 42.8 million incidents, or 117,339 incidents per day. (PwC) According to AV-Test, from 2013 to 2014, new malware occurrences jumped over 71% from 83M to 142M.

In their annual security report, Check Point Software Technologies found that 86% of organizations accessed a malicious site in 2014. 83% of organizations have existing bot infections. A whopping 96% of organizations used at least one high-risk application and 42% of businesses suffered mobile security incidents costing more than $250,000 to remediate. On a daily basis, Check Point found that 106 unknown malware downloads were occurring per hour, up from 2.2/hr from the previous year 2013. In addition to these findings, 20% of enterprise hosts are not running desktop firewalls, 10% donít have updated service packets, 25% donít have updated versions of their software, 17% donít have any antivirus installed, and 35% allow users to have local administrator permissions.

Todayís hackers have become increasingly more sophisticated in their attacks, utilizing various tools and techniques in order to gain access to a companyís most delicate information. Attackers are no longer individuals aimlessly seeking to wreak havoc; theyíre now nation-state sponsored groups, teams of people who are well funded in order to gain access to trade secrets, M&A information, bank accounts, credit card and debit card information, government secrets, among all other data sought useful. The top three industries targeted, as provided by Evercore ISI, are Business & Professional Services, Retail, and Financial Services. (Evercore May 19, 2015) Hackers generally target consumers, who are engaging in online monetary transactions and ecommerce. Another opening for hackers is to target those who access public WiFi, which opens doors to stores of information (literally everything stored on your smart-device) if the network isnít secure. These attacks arenít necessarily targeting networks and servers, but are acquiring information through email and the internet (WiFi), manipulating users to click on links that can trigger malware. Third party research would suggest, as provided by Wunderlich, that 80%-90% of data breaches start from some form of email.


Download and read the whole article here

<< Back to the Articles Printer Friendly

701 N. Post Oak Rd., Suite 610 Houston, Texas 77024

© 2017, JDA Professional Services, Inc.  All Rights Reserved.