Cyber criminals sell the average person's information for only USD5 to digital sweatshops, but cause USD800 billion in annual losses worldwide
Dubai, United Arab Emirates
As the Gulf Information Security Expo and Conference (GISEC) draws to a close today (Wednesday, 5 June 2013), it has gained momentum with participating companies and conference delegates from five continents gaining insights into the increasingly sophisticated methods of cyber deception. More than 2,300 attendees have flocked to the event over the past three days. The event has been hailed for its ability to combine return on investment (ROI) and the latest issues and trends in information security with exhibitors already confirming space for next year's event taking place 9-11 June 2014.
Delegates learned how they can turn the tide on e-criminals through their own counter-deception safeguards. Experts from diverse fields ranging from international economics to oil and gas to governance, took centre stage to reveal how cyber criminals are adapting their methods in sync with the boom in tablet devices, mobile applications, Broadband access and numerous other advancements that have democratised technology through greater access and affordability.
Contrary to what most companies assume, the biggest risks are not posed by external hackers but internal employees, said Stephen Brennan, Global Consulting Lead at CSC and Platinum Sponsor of the GISEC Conference. "All the information in the average person's lifetime is only valued at USD5 by cyber hackers, and they mostly sell these details to digital sweatshops. In sharp contrast, organised crime costs businesses a staggering USD800 billion annually worldwide. Many cyber criminals prefer smaller transactions that do not raise the suspicion of authorities, thus making cyber theft a volume-driven business. Therefore businesses need a proactive response plan in which 80% of the procedures should be pre-done. Waiting for an attack to happen before taking action is akin to an emergency service that waits for a victim to first get injured before building the hospital and training the doctors."
Although 57% of respondents in a CSC survey cite mobile security as their biggest challenge, delegates were urged to not only focus on smartphones as this only constitutes 10% of the iceberg with the remainder being made up of other smart devices like smart grid devices, e-readers and connected consumer electronic devices.
In a study shared with delegates by CSC, an analysis of the top 23 most popular mobile apps across the world's top three platforms uncovered alarming evidence that simply by downloading the apps, employees are unwittingly surrendering the right to securely store their business's credit card details, passwords, texts, contacts and images on their devices, while their calls are being secretly recorded.
In a GISEC conference session, Armando Romeo, Founder of eLearnSecurity - a Gold Sponsor of the GISEC Conference - said this year 55% of security investments will go towards web applications, with 32% for network security and 9% for mobile security. However he emphasised that mobile security is expected to become the leading growth area, adding: "Companies are still falling victim to tactics that have been used by hacktivist groups since 1999, such as SQL injections. This proves that although technology is a fast-changing field, some companies are not changing fast enough and are still using the same protocols. Meanwhile hackers are constantly refining their techniques; for instance they are now developing malware that is customised for specific companies, as opposed to simply sending mass malware."
Conference speaker Anthony Di Bello, Strategic Partnerships Manager, Guidance Software, shared his expertise during a session, "Security Intelligence through Endpoint Analytics: Deriving Insight from Chaos". He said: "Most organisations have invested heavily in perimeter defences and detection technologies, however the target of any attacker, the endpoint (such as laptops, desktop computers and servers), is currently a blind spot for security organisations. What is needed is deep visibility to the endpoint, coupled with big data security analytics to address this critical blind spot in information security."
Conference Chairman, Roger Cressey, Senior Vice President of Booz Allen Hamilton, who served as Chief of Staff of the Critical Infrastructure Protection Board for both President Bill Clinton and President George W. Bush, noted that governments are increasingly setting aside their diplomatic differences and working together against the mutual threat of criminals who sell intellectual property and strategic secrets to the highest bidders as exemplified by the bilateral cyber security initiative undertaken by the US and China. He added that cyber attacks have mutated to unprecedented levels of complexity which involve multiple stages, such as sleeper malware that can be activated months or even years later to launch synchronised attacks.
Trixee Loh, Senior Vice President for Dubai World Trade Centre noted: "The benefits of the GISEC Conference have by no means been confined to the business community, as they also extend to the individual and public sector where e-government initiatives are gaining momentum. The consensus among participants is that any viable solution for cyber attacks cannot be superimposed by a few industry players or governments as solutions need to emerge organically from broad-based knowledge transfer. For this reason we are delighted to note that both the GISEC Conference and the Expo have received enthusiastic support from businesses and governments alike, which augurs well for our forthcoming editions."
GISEC 2013 was a very successful show for us at Qualys. This year's conference was very well attended, both in terms of vendors and the number of visitors. Traffic to our stand exceeded our expectations and security professionals were keen to discuss their security and compliance cloud-based initiates in a friendly and conducive environment," said Amer Deeba, Qualys CMO.
GISEC Conference delegate Abdul Aziz A. Razzaq A. Kader, Superintendent - Information Security, Information Security Directorate, Central Bank of Bahrain, said: "There is nothing more important than security information when we are looking for the latest in technology. GISEC brought companies to one place to meet and network, and activate great products, within the security information market. The conference proved to be very stimulating especially with the presence of Kevin Mitnik who showcased insider hacker tricks by explaining access control, data hacking and social security. This experience added great value to the exhibition."
Joseph DePlati, IT Manager, Middle East Region of National Air Cargo Middle East FZE, said: "GISEC aided MENA organisations to control the weakest links in the information security sector. With the high quality of vendors and speakers, refreshing insights and solutions, and an exceptional venue, GISEC proved to be a memorable experience."
GISEC has attracted 87 participating companies from 18 countries including Australia, Bahrain, Canada, Cyprus, Egypt, France, India, Italy, Lebanon, Netherlands, Pakistan, KSA, Singapore, Tunisia, Turkey, UAE, UK and USA. Exhibitors, experts and participating companies encompassed all aspects of information security - ranging from education and training, telecommunications, business hardware, software, internet and intranet services, cloud infrastructures, data management, mobile devices, advisory services and many more.
Participating companies include AirWatch, Akamai Technologies, Arbor Networks, Cassidian CyberSecurity, Comendo, Deep Secure, Lancope Inc., Dell Sonicwall Inc., Spire Solutions, Splunk Inc. and Watchguard amongst others. Sponsors of the GISEC conference include GBM; CSC; eLearnSecurity, Help AG Juniper Networks; Aujas Networks, BlackBerry, Guidance Software, Qualys and Zeroday.
Powered by GITEX TECHNOLOGY WEEK, the region's leading Information and Communications Technology (ICT) event, GISEC is strictly a trade-only event and is open to business and trade visitors from within the industry only. GISEC is open 10am-6pm until 5 June. Visitor attendance is free of charge. For more information, please visit www.gisec.ae
-Ends-
About Gulf Information Security Expo and Conference (GISEC)
Gulf Information Security Expo and Conference (GISEC) is the Middle East's most anticipated IT security knowledge platform for 2013. The event features a three-day exhibition from 3 - 5 June and a two-day conference from 4 - 5 June at the Dubai World Trade Centre.
Organised by Dubai World Trade Centre and powered by GITEX TECHNOLOGY WEEK, the region's largest annual ICT event, GISEC attracts top industry professionals including CIOs, CTOs, CSOs and senior management from key industries including finance, energy, telecoms, government sectors and IT. GISEC connects visionaries, thought-leaders, practitioners and innovators who are transforming the information security landscape. A premier lineup of speakers and experts are planned to drive the conversation in new and strategic direction.
About Dubai World Trade Centre (DWTC)
As the organiser of Gitex Technology Week, Gulfood, Dubai International Motor Show and many others, Dubai World Trade Centre offers more than 33 years' experience delivering world-class events in the Middle East, providing local, regional and international exhibitors with unmatched expertise and in-depth market knowledge. Our team organises 18 of the largest and most successful international and regional shows in Middle East, providing an ideal platform for business development in the region.
Our commitment to on-going innovation within the exhibition industry has supported the rapid growth and development of a wide range of business-to-business and business-to-consumer shows, and delivered consistent satisfaction to exhibitors and visitors. DWTC works with the leading trade bodies and industry associations to ensure that all exhibitions deliver full value and are built upon the real needs of their specific sector.
For more information, please contact:
Rafaa Sleiman
PR Manager
Alsayegh Media
+971 50 924 543
rafaa.sleiman@alsayeghmedia.com
Amelia Naidoo
Jehad Kamal
Manager - PR & Media Relations
Manager - PR & Media Relations
+971 55 747 9086
+971 50 429 9150
Amelia.Naidoo@dwtc.com
Jehad.Kamal@dwtc.com
Jumana El Tarabulsi
Media Relations Manager
Alsayegh Media
+971 55 854953
Jumana.tarabulsi@alsayeghmedia.com
© Press Release 2013
