Cyber Attack Hike in UK

Tuesday, July 3, 2012 @ 01:07 PM gHale

Cyber attacks continue growing and if you don’t believe it, just ask the UK’s internal counter-intelligence and security agency, MI5.

Vulnerabilities on the Internet are currently being “exploited aggressively not just by criminals but also states,” said Jonathan Evans, the head of MI5.

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Evans also said MI5 is investigating instances of cyber attacks in more than a dozen companies and that one major London business suffered £800 million ($1.3 billion) in losses following an attack.

This comes hot on the heels of a report from Cambridge University saying cyber crime is currently costing Britain £11 billion ($17.3 billion).

“Some academics, such as the authors of the recently released Cambridge University cybercrime report, claim that more resources should be focused on catching and punishing cyber criminals as opposed to preventing computer crime – but unfortunately this is as logical as waiting until you have been burgled before installing locks,” said Ross Brewer, managing director and vice president, international markets, LogRhythm, a security provider.

“The scale and nature of today’s cyber threat calls for continuous, protective monitoring of networks to ensure that even the smallest intrusion or anomaly can be detected before it becomes a bigger problem for all,” he said. “As traditional point security tools continue to prove their own limitations, more holistic strategies need to be adopted – and log data is becoming an invaluable intelligence resource for anybody wanting to keep a close eye on all network activity.”

“This level of visibility is also critical to facilitate deep forensic analysis into today’s sophisticated cyber attacks, enabling them to be accurately attributed to the correct perpetrators.”

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