Cyberthreats: Meet to hear real-life examples
Published on: Wednesday, October 09, 2019
By: Bernama
KUALA LUMPUR: The future of cybersecurity will be top of the agenda at a meeting of IT leaders, here, which will reveal recent real-life examples of ransomware attacks.
The event today (Wednesday) will bring together 30 of the region’s top CIOs to discuss how to combat the growing threat. It will be hosted by bluedog Security Monitoring, a new venture from industry veterans Tim Thurlings and Paul Lomax, as part of the NanoSec Asia conference.
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bluedog Security Monitoring, which operates from Manila, aims to bring professional 24-hour cybersecurity monitoring services within reach of small and medium-sized companies for the first time. Previously, use of “managed detection and response” services has been restricted to large corporates.
Tim, a former “ethical hacker” who helped develop the European Union’s Tiber threat intelligence framework, says Malaysia is the ideal place for the company to build its profile. “Malaysia is determined to maintain the strong growth momentum within the digital sector and the wider economy and cybersecurity is key to driving this transformation,” he said.
“As a top three Asean country, it will account for a significant share of the cybersecurity market. With many complex and fast evolving threats, the security service market is set to grow to as much as RM2.5 billion by 2021.
“In addition, the recent strengthening of The Malaysia Personal Data Protection Act means that all organisations, large and small, need to improve their business practices to combat potential data breaches and to avoid possible financial loss and reputation damage.”
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RM398.6mil lost to cyber crimes
bluedog Security Monitoring aims to help Asian businesses to reassure customers, meet international standards and win new business in world markets.
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Co-founder Paul Lomax, a part-time Philippines resident, is also the founder of Freeparking.com, a leading domain registrar which has operated from Manila since 2007. He is planning to set up an academy to train local people in cybersecurity skills.
“bluedog Security Monitoring provides a cost-effective, locally based solution to cybersecurity issues,” he said.
“We are committed to working in partnership across the SEA region and are investing in developing skills and talent through our regional Security Operations Centre (SOC), that is a key part of the services offered.”
bluedog Security Monitoring’s low-cost Sentinel device plugs into a business’s network and uses machine learning to spot unusual activity. It then alerts the security operations centre, where the team can analyse and respond to potential threats. The service not only offers enhanced security and rapid response to incidents, but also helps companies comply with standards and keeps a full audit trail for reporting purposes.
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