Corporate Defence Plan Against Cyberattacks

Siemens AG is joining with companies including Airbus and IBM to try to counter large-scale hacking attacks that threaten to cost $8 trillion in damage over the next five years.

The group signed a charter recently at a security conference in Munich urging stronger safeguards against assaults on digital systems that control homes, hospitals, factories and nearly all infrastructure. 

The charter aims to set a standard for companies to find trustworthy business partners, or avoid those outside that circle, Siemens Chief Executive Officer Joe Kaeser (pictured) said.

“If companies along the value chain share their experiences, then we can prevent a lot of things,” said Kaeser, who helped initiate the charter. Conversely, “if you haven’t established a certain set of elements, then you’re not part of the it. There has to be a unified approach.”

The initiative comes amid an ongoing investigation in the US into allegations of Russian interference in the 2016 election, and after computer malware has already shown its ability to spread through systems worldwide. 

Last year’s WannaCry ransomware crippled parts of Britain’s National Health Service and infected more than 300,000 computers across 150 countries. The cost of cyber-crime to firms over the next five years could reach $8 trillion, the World Economic Forum said in a report in January.

Signatories of the Munich charter, which also include Allianz AG, Daimler AG, NXP Semiconductors NV, SGS SA and Deutsche Telekom AG, are calling for governments and companies to take responsibility for digital security at the highest levels. They suggest governments set up dedicated ministries devoted to the issue.
Societal Breakdown

Airbus CEO Tom Enders said his company now employs about 1,000 people dealing with a response to cyber-attacks, a number he estimates will rise tenfold or more in the next decade, highlighting how the issue is becoming an increasingly central part of large companies’ organisation. 

New-generation aircraft contain tens of thousands of sensors and are increasingly connected via mobile networks, making the storage and securing of data increasingly complex, he said. Still, most of the security breaches that are disclosed via government agencies to companies typically come from the either the US or the UK, evidence that other European political institutions must do more to collaborate with companies, Enders said.

“We must not be afraid to share information freely between governments, government agencies and industries,”

Canadian Foreign Minister Chrystia Freeland said the issue “‘will certainly be a focus” of the country’s Group of Seven presidency this year.

The WEF report made reference to thousands of attacks every month on critical infrastructure, from European aviation systems to US nuclear power stations, and said state-sponsored hackers are attempting to “trigger a breakdown in the systems that keep societies functioning.”

Information Managment

You Might Also Read:

Darktrace Forms Cybersecurity Partnership With Siemens:

Alphabet Launches A Cybersecurity Company - Chronicle:

Hacking Aviation Technology:

« UN Chief Urges Global Rules For Cyber Warfare
North Korea's Cyber Army Has A New Battalion »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

LockLizard

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

North Infosec Testing (North IT)

North Infosec Testing (North IT)

North IT (North Infosec Testing) are an award-winning provider of web, software, and application penetration testing.

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

XYPRO Technology

XYPRO Technology

XYPRO is the market leader in HPE Non-Stop Security, Risk Management and Compliance.

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

Veracode

Veracode

Veracode delivers the most widely used cloud-based platform for securing web, mobile, legacy and third-party enterprise applications.

Oppida

Oppida

Oppida provides tailored IT security services to help you identify security gaps and assist in finding the most effective remediation.

Exabeam

Exabeam

Exabeam provides security intelligence and management solutions to help organizations of any size protect their most valuable information.

CSI

CSI

CSI is a Managed Service Provider (MSP) delivering Hybrid Multi-Cloud, Data Protection, and Cyber Security solutions to highly regulated industries.

Clone Systems

Clone Systems

Clone Systems is an award winning global cloud based managed security as a service provider.

Soffid

Soffid

Soffid provides full Single-Sign-On experience and full Identity and Access Management features by policy-based centralised orchestration of user identities.

KETS Quantum Security

KETS Quantum Security

KETS harnesses the properties of quantum mechanics to solve challenging problems in randomness generation and secure key distribution and enable ultra secure communications.

VLATACOM Institute

VLATACOM Institute

Vlatacom Institute is privately owned accredited research and development institute, system integrator and turn-key solution provider. Areas of expertise include encryption and authentication.

Hybrid Identity Protection Conference (HIP)

Hybrid Identity Protection Conference (HIP)

Hybrid Identity Protection (HIP) is the premier educational forum for identity-centric cybersecurity practitioners charged with defending hybrid cloud environments.

Psybersafe

Psybersafe

Psybersafe is a hands-on, behaviour-changing training system that keeps your people and your business cyber safe.

Single Point of Contact

Single Point of Contact

Single Point of Contact is a Managed IT Services provider that helps businesses to achieve a seamless and secure IT environment.

G-71

G-71

G-71 LeaksID is a cutting-edge ITM technology aimed at safeguarding sensitive documents from insider threats.

Veza Technologies

Veza Technologies

Veza is the authorization platform for data. Built for hybrid, multi-cloud environments, Veza enables organizations to manage and control who can and should take what action on what data.

SkillsDA

SkillsDA

SkillsDA is pureplay company in cyber security involved in capacity building towards National Security.

Evervault

Evervault

Evervault provides engineers easy solutions to complex data security and compliance problems.

Insane Cyber

Insane Cyber

Insane Cyber make cybersecurity easier to manage through automated, easy-to-use software and expert support and partnership.