Cybercrime is a growing threat and it is reaching the crisis levels. It estimates the cost from $375 billion USD to $575 billion per year. Financial losses, reputational damage, national security concerns, these are some of the core risks to the C-suite is taking serious notice of.

Cybersecurity is important and when we try to analyse, on is the enemy of the organistaion and why he is trying to hack the website. The response is not clear on who is the enemy. Two-thirds of the C-suite views cybersecurity as a top concern that must be addressed. However, they are not clear about which elements of security present the greatest risk. Fiftyfour percent of those surveyed acknowledge risks from organized crime groups.

Innovation is always runs ahead of security and the bad boys are innovating everyday. Everyday there are new tools, new attack services, new cash-out strategies developed and shares. Everything is changing: the compromise points, the risks and the consequences. A new strategy implemented by cybercriminals is corrupting backup files. A question is on how to protect your business from ransomware.

A recent news on, IBM's shutdown of its storage innovation centre in Tel Avis, Israel, the layoffs are related to IBM’s activities in its storage system solutions. It has left many IBM customers concerned about the escalating pressure to transition from high-end to lower-end storage and reports of layoffs across the high-end storage division. There are various innovations and disruptions ae happening in most of the organisations. No vendor in this universe are giving guarantee of 100% secure, talking about 99%. That 1% brings risk for the industry. CIO/CTO and CISO are at fix on how to choose the right vendor, from the crowded technology market place. Increasing innovations by the cyber crooks, technology vendors have also come up with various components to protect the infrastructure and assets. They are:

Identity & Access management

Digital Risk Management

Messaging security

Cyber Awareness training

Threat Intelligence

Vulnerability Assessment

Intrusion Prevention

End point security

Web security

Application security

Cloud security

Data Security

Network & Infrastructure

Transaction & Fraud security

Security operations & Incident Response

Incident Forensics

MSSP and many more

A question comes, is there any necessity to invest huge amount in a small organisation, even they are highly concern on the Cyber security by knowing the fact company’s business is limited to geography specific. May be certain global companies they need all these services. The answer would be,after implementing all these company’s services, if there is no right team is available then the you are back to square one.

Now, the technology based AI is available to detect real-time analytics software for payments fraud detection and prevention. AI-based systems focused on anti-money laundering and counter-terrorism financing. This is expected to bring significant potential to commercialise this technology across banks, fintechs and MNEs to help combat fraud risk across all payment types as well as combat AML risk.