Cybercrime and the cost to business to increase significantly by 2021
With cybercrime predicted to cost $6 trillion annually by 2021, companies, both large and small, need to budget for cyber security as they would marketing, staff wages, or any of the costs associated with running a successful business. Not doing so runs the risk of being hit by a data breach, malware attack and the loss of revenue, bad publicity and potential legal liability that these bring - all of which could force a business to close virtually overnight.
There are a number of cyber security solutions available, from network intrusion detection, antivirus, firewalls and vulnerability scanners. However, many of these products are out of reach for many companies, due to the complexity in deployment and monitoring. Many businesses don't have an IT department on hand to install and manage these things. And while many companies would like to open their product up to the bug bounty community, a lack of resources and experience of managing a bug bounty program can be off-putting to those wanting to get involved.
And let's not forget one of the most important determining factors in any business - money! Many businesses simply don't have the budget to pay for the annual licenses that many cyber security licences require, let alone the wages to pay an IT manager or award to a bug bounty program.
Uncloak - future proofing cyber security
Uncloak manages to solve many of the problems faced by companies looking to fend off the threats posed by cybercrime. While traditional solutions rely on a signature based model, downloading the latest updates from a server, usually days after a threat has been identified, Uncloak works in real time to protect systems by utilising the strength of the wider community in contributing discovered vulnerabilities to a common threat database, through a blockchain based mechanism.
Uncloak goes one step further and incorporates a team of human 'hunters', or ethical hackers that will work to evaluate any potential threats on the company network. This innovation provides companies with the huge benefits that a bug bounty program can offer, for a fraction of the budget. By having expert, white hat hackers examine a company's unique security posture, a number of potential vulnerabilities that can be missed with automated solutions can be caught.
The combination of skilled, human testing, combined with AI threat analysis of both the internet and ‘Dark Web’ makes Uncloak a truly innovative solution, geared towards protecting endpoints, no matter what the scenario. The result being that when a vulnerability is discovered, Uncloak will immediately notify the end user so that action can be taken to protect the business the endpoint or network is compromised - and as Lena Bhogaita Operations Lead at Uncloak
states : "If an end user client can understand their security risk position in real-time, they can place themselves in a strong position to eliminate cyber threats before they occur".
Further information can be found at the Uncloak website - https://uncloak.io/
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