CTM360 Web Series - Definition of Cybersecurity

Summary

Mahar B, CEO of CTM 360, discusses the urgent need to redefine security management in light of increasing cyber threats. He highlights the reality that all companies are either already hacked or unknowingly compromised, emphasizing the exponential growth in security breaches and their financial impact. B calls for a shift in approach, suggesting a reevaluation of the definitions of cybersecurity, information security, and IT security to create a more effective enterprise security strategy.

Takeaways

• 🛡️ The speaker, Mahar B, CEO and founder of CTM 360, emphasizes the need for a change in the current approach to managing security due to prevalent issues.
• 🔄 The FBI director's statement has evolved, suggesting that all companies are either already hacked or will be, highlighting the inevitability of cyber attacks.
• 🏦 Swift's advice post the Bangladeshi Bank hack was for banks to assume they have been breached, which led to the discovery of undetected breaches in many banks.
• 🕵️‍♂️ Data dumps, such as the Ashley Madison and LinkedIn breaches, reveal the extent of security breaches and the potential for password reuse across accounts.
• 💡 The importance of understanding the difference between cyber security and information security is highlighted, with a call to redefine these terms for clarity.
• 📈 The estimated global losses due to cyber attacks are projected to increase exponentially, from $445 billion to 2 trillion by 2019.
• 💻 The IC3 reports a significant increase in recorded losses from security breaches, indicating the growing severity of the issue.
• 🏥 Despite substantial investments in security, 75% of top US commercial banks still have malware, and 95% have grades of C or less, suggesting a failure in current security practices.
• 🔍 The speaker proposes a redefinition of security roles, distinguishing between IT security, information security, and cyber security, each with its unique mission.
• 🛑 The mission of IT security is service delivery, focusing on secure user experience, akin to the role of police in the physical world.
• 🛡️ Information security's mission is to protect information assets, similar to the military's role in safeguarding critical assets in the physical world.
• 💣 Cyber security's mission is to identify and neutralize cyber attacks, equating to the role of intelligence agencies conducting covert operations against threats.

Q & A

Who is the speaker in the video and what is their role?

The speaker is Mahar B, the CEO and founder of CTM 360.

What is the main reason the speaker has started this series of talks?

The speaker believes that there is a need to change the way security is managed today due to several highlighted issues.

What did the FBI director and the Cisco CEO say about company hacks?

The FBI director said there are two types of companies: those that have been hacked and those that will be hacked. The Cisco CEO updated this by saying there are companies that have been hacked and those that don't know they have been hacked.

What example does the speaker use to illustrate that many organizations have been breached without knowing?

The speaker mentions the Swift statement after the Bangladeshi Bank hack, where banks were advised to assume they have been breached, and many found breaches upon investigation.

What are data dumps and why are they significant?

Data dumps occur when large social media or internet service providers are breached and user email IDs and passwords are published online. These can lead to further breaches as attackers use these credentials to access other accounts.

What impact did the Yahoo data breach have?

The Yahoo data breach significantly impacted the company, causing a loss of value, and highlighted the widespread issue of data breaches.

How has the financial impact of security breaches changed over time?

The financial losses from security breaches have grown exponentially, with estimated losses increasing from $445 billion last year to a projected $2 trillion by 2019.

What is the state of security in the US banking sector according to the speaker?

Despite heavy investments in security, 75% of the top US commercial banks have malware in their environments, and 95% of the top 20 US banks have a security grade of C or less.

What two areas does the speaker suggest need to be addressed to improve security?

The speaker suggests redefining security and adopting offensive defense as two critical areas that need to be addressed.

How does the speaker differentiate between IT security, information security, and cyber security?

IT security focuses on service delivery for end users, information security focuses on protecting information assets, and cyber security focuses on identifying and neutralizing cyber attacks.