A shift in global cyber crime is resulting in more sophisticated security attacks and SA is a potential target.
Anthony Olivier, a security analyst speaking on behalf of DiscussIT, explains that there's a cyber war hidden in national interest of information security.
This year's sixth annual Security Summit will be taking place from 10 to 12 May, at the Sandton Convention Centre.
Olivier pointed 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.
Cyber war looms
Olivier says: “Information security is not just about business; it's an undercover war. What's relevant is in SA, 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.
Data is gold
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 2011 will feature international speakers: Dan Crisp, Barclays Bank strategic director of global operational risk initiatives, Robert Fly, SalesForce.com's head of product security, and Lynn Terwoerds, Cloud Security Alliance and vice-president of business development at SafeMashups.
The three-day conference will address key security topics including governance and regulation such as the Data Protection Act and the Protection of Personal Information Bill.
It will also reveal key trends in mobile security, Web application and data security, threat modelling and emerging threats.
For more information about the Security Summit 2011 click here.
Share