FireEye Archives - Cyber Secure Forum | Forum Events Ltd
Posts Tagged :

FireEye

Fines of up to £17m if UK infrastructure firms neglect cyber security

 960 640 Stuart O'Brien
By:
0
0

The Government has announced plans to fine Infrastructure firms up to £17m if they don’t have adequate cyber security measures in place.

Under a new directive, UK regulators will be able to inspect cyber security at premises operated by transport, energy water and health companies, checking for any threat to public safety and possibility of significant adverse or economic impact resulting from a disruptive incident.

The announcement follows plans last year from the Department for Digital, Culture, Media and Sport to bring the UK in line with the EU Network and Information Systems (NIS) Directive, which comes into effect in May.

The directive will also cover threats affecting IT services, hardware failures and environmental attacks.

Margot James, Minister for Digital and the Creative Industries, said: “Today we are setting out new and robust cybersecurity measures to help ensure the UK is the safest place in the world to live and be online.

“We want our essential services and infrastructure to be primed and ready to tackle cyber attacks and be resilient against major disruption to services.”

Discussing the directive, Jens Monrad, analyst at cyber security company FireEye, said: “With so many nations, including the UK, now relying on digitalisation, hackers may look to cause mass disruption by targeting critical national infrastructure,” said Jens Monrad, at cyber-security company FireEye.

“This could be systems, which the UK government and citizens rely on, like healthcare systems, water supply and electricity.”

US cyber security start-ups failing to actually start up

 960 640 Stuart O'Brien
By:
0
0

Cyber security start-ups in the US are failing to make an impact in a crowded market, according to experts.

Venture capitalists have also seen a rise in security products that have been overtaken by advances in hacking, making them obsolete, along with larger companies “locking down” clients with more sophisticated security products and services.

Speaking with it news, David Cowan, partner at venture capital firm Bessemer Venture Partners, said: “I have never seen such a fast-growing market with so many companies on the losing side.”

Commentators have highlighted how many of the start-ups are now processions of corporates, operating as “zombies”, with little chance of becoming acquisition targets or fetching a good price in an initial public offering (IPO).

Corporate companies have also consolidated their security work, using a select few recognised companies in a bid to save money and time.

“Suddenly, we are in this situation where there are just too many vendors and too few can be sustained,” said Dave DeWalt, the former CEO of cyber security company FireEye.

“You’re starting to see companies go, ‘oh my gosh, what do I do? Can I get more capital, do I have to merge?”

It’s thought about 300 cyber security start-ups launch every year in the US alone.

However, not all venture capital firms are leaving the sector, with some investing in smaller companies.

“Start-ups that are likely to reach between US$100 million and US$300 million in value are still offering excellent opportunities for an exit,” said Yoav Leitersdorf, founder of YL Ventures and investor of Hexadite that was sold to Microsoft last year.