A new study from the Centre for Economics and Business Research (CEBR) has found that data breaches are costing UK businesses £34 billion a year. The report suggests this is made up of £18 billion in lost revenue and £16 billion in added security measures after breaches have occurred.
It’s the same the world over. According to a 2015 Ponemon Institute study commissioned by IBM, the global average cost of a data breach to an organization has reached $3.8 million – on average, $154 for every single compromised record. It’s significantly higher in the US and Germany, where the costs are $217 and $211 per compromised record, respectively. These are quite staggering figures.
Now, it’s not uncommon for companies who sell cybersecurity services like IBM and Sophos to talk big numbers like this. After all, clearly we think it’s good to see businesses are investing in doing something about this problem. But you do have to wonder if those billions are being spent effectively. As leaders in the security industry, we have a crucial role to play to ensure they are. We need to deal with the growing complexity of threats without introducing more complex solutions, and cost.
Serving over 27,000 students and 2,500 faculty and employees, the University of San Carlos (USC) in Cebu City, Philippines, is the premier university in Cebu and one of the top 10 leading universities in the country.
As USC continued to expand with more users and devices connected to the network, bandwidth consumption became an issue – resulting in decreasing security of its network, as many security features could not be turned on.
With a staff of just nine people, the USC IT team found itself overwhelmed by security incidents, including the hacking of the university’s website from time to time. USC needed a robust yet simple-to-manage and resource-friendly security solution to meet its requirements.
Web filtering used to be rather easy – IT departments could block inappropriate categories of websites like adult, gambling, and perhaps social media, and the job was done.
More recently, however, cybercriminals have begun to infect large numbers of users on the web by compromising legitimate sites that you probably don’t want to block with strict browsing policies.
In fact, SophosLabs detects 20,000 to 40,000 malicious URLs every day – and 80% of those are compromised legitimate websites. Web filtering that only blocks dodgy sites won’t keep users safe from web-borne threats.
If you couldn’t make it to Infosecurity Europe in London last week, you missed quite a bit – great talks by our security experts, plus lots of games, prizes and fun at our very popular event stand.
Well, don’t feel bad. You can catch up on everything you missed in a short video featuring some of our great staff.
Alongside Infosec were a few other events that we want to mention – including the SC Awards, where our SG Series UTM was tapped by the judges as the Best UTM.
We’re delighted to announce that our Sophos SG Series UTM has won Best UTM at the SC Awards Europe 2015 and also received a 5-star A-List rating from PC Pro Magazine.
To win not one but two big honors like these in the same week just goes to show how our UTM is a real leader in the market, and a winner for organizations of any size.
First up at the SC Awards Europe 2015 event held this week to coincide with the Infosecurity Europe Conference, Sophos SG Series won the Best UTM category, beating out other nominees Fortinet, Check Point and Barracuda.
Last week at our annual EMEA Partner Conference in Rome, attended by over 400 of our fantastic partners, I was fortunate to meet a true pioneer – our guest speaker Reinhold Messner, who made the first solo ascent of Mount Everest without supplemental oxygen.
Reinhold is an inspiring figure. He has climbed all 14 of the world’s 8,000-meter peaks. He is also an author, politician and businessman.
His speech got me thinking about ways Sophos is a pioneer too. Which is why I’m so excited that we have achieved an industry first with our new Sophos SG Series SG 125w and SG 135w – the first (and for now the only) UTM appliances on the market with 802.11ac integrated wireless.
Now you might be thinking, “I’ve heard of Everest, but why is 802.11ac such good news?” Put simply, because it’s much faster.
In the last couple of days, a widespread Linux vulnerability known as GHOST has been receiving a lot of attention in the security community. In theory, this vulnerability can allow an attacker to remotely execute code on a Linux computer. There is already proof of concept code that puts this theory into practice, and it is expected that real world attacks are just around the corner.
The Sophos product teams have been thoroughly investigating to determine which of our products are affected and what is necessary to address those that are.