PKI LIVE UPDATE: EA Community loses $1.5 billion due to network security breaches

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  • 8 years ago
  • Posted: November 25, 2013 at 2:50 pm

PKI Live update:

During the ongoing conference on Information Security & Public Key Infrastructure(PKI) Cisco made a presentation touching on¬†Information Security Capacity for law enforcement. In the presentation, Cisco outlined how security threats have negative impacts on nation’s economies (GDP), organizational work output, and the impacts on individuals.

It was mentioned in tthat East Africa community loses up to $1.5 billion annually on network security breaches that lead to network downtime. A significant portion of this loss is suffered by Kenya as Kenya has the largest network infrastructure in the region yet the country has not invested in protective measures to fight against cyber security risks.

Institutions and nations with poor cyber security measures also stand a risk of losing trust with other institutions and nations that would otherwise do business with them. For example a number of countries and institutions have implemented measures that block traffic originating from IPs that have been identified as originators of malware or whose networks do not have properly installed security systems.

Installations of simple security measures such as antiviruses were identified as inadequate as antiviruses only target the individual malware. However, malware originators are capable of sending up to 12 mutating malware per second yet antiviruses are only able to generate one signature per second; meaning the antivures can only be trusted to offer protection at the rate of 8%-10% of the time.

Security systems that aim at attacking the gun and not the bullets was mentioned as capable of guaranteeing protection against malware 99% of the time. The system that Cisco rides on depends on understanding the source of the malware and other potential sources as found to be related to an identified source of malware.

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Important to the system that targets the sources of malware is the Intelligence behind the security systems which are able to pre-detect threats and prevent them from happening. It is paramount for Institutions and Nations particularly Kenya to invest in these advanced security measures to mitigate against the GDP losses that currently run to the tune of $1.5 billion a year.

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