CYBERCRIME – The Cyber Crime Business and those that stand to profit most
It may be well known that cyber crime now generates more revenue than all other forms of crime. In fact, some figures state that it generates almost twice as much as drug trafficking, arms trafficking, and human trafficking combined. So it’s somewhat obvious that the bad actors themselves are benefiting financially but who else profits or has impact on the cost. State funded attacks are a mainstay of the cyber crime industry. Does the sophistication and financial impact of these attacks affect private sector attacks that can borrow from the state funded bad actors? What impact does cyber insurance have? It is a popular if not required part of cyber defense for some industries. The fact that an essential element of cyber insurance is paying the ransom may mean that they are actually encouraging the bad actors to make these demands or worse increase the value of their demands? What about the security solution providers? We aren’t encouraging bad actors by providing defense but is there any conflict of interest? What about organizations that implement insufficient posture? Should there be penalties when an attack costs tax payers? Should vendors themselves be punished when their solutions repeatedly fail? Lot’s of questions. Let’s discuss some answers.
Speaker: Matthew Balcer, Director, Sales Engineering, SENTINELONE
🔹 InCyber Canada 2024
Montreal Convention Center hosted a major cybersecurity event on October 25 & 26, 2024, centered around the theme « Cybersecurity in the age of AI ». This third edition brought together 3200 participants, 200 partners and 300 speakers, creating a priceless platform for exchanges and discussions on the critical issues of cybersecurity and digital trust.
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