Cybersecurity spells trouble for hackers!

With Mike Turner,
Global Cybersecurity Chief Operating Officer at Capgemini

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Cybersecurity spells trouble for hackers!

Today’s cybercriminals are nothing like the young independent hackers active in the early days of the internet. Now, they often work for extremely well structured organizations and, in some cases, even governments. Cybersecurity has thus emerged as a major issue for companies. That’s why Capgemini has developed a complete line of services based on the most advanced technologies and helping some of the most prominent brand names around the globe. Insurance company Ethias is a case in point.

Increase in the number of cyberattacks between 2015 and 2016

Cybercrime: the biggest threat facing companies

On May 16, 2017, a global cyberattack took more than 200,000 computers hostage in 150 countries. The event confirmed that cybercrime has become one of the main threats that companies face. Costs related to cybercrime are now into the billions of dollars per year: $7.6 billion in 2015 to be exact. More and more companies are looking to protect themselves against cyberattacks, whether they originate outside the company or from within their own ranks.

« Cybersecurity is not just about money. Most of all, it’s a matter of confidence. If a company is hacked, its reputation could be destroyed overnight. » Mike Turner

A perfect example of a company looking to protect itself from cybersecurity threats is Belgian mutual insurance company Ethias, which turned to Capgemini, and Vice President Vincent Laurens, in 2015 to help it protect its confidential data from hackers.

“Like all companies, Ethias knows the stakes are extremely high when it comes to cybersecurity, in terms of both finances and reputation,” says Mike Turner, Global Cybersecurity Officer at Capgemini.

Furthermore, in the insurance sector, companies are even more motivated to protect themselves against attacks, since regulators have set strict rules for transactions to ensure they are secure.

Weekly cybersecurity alerts worldwide in 2016

Total surveillance for maximum security

For Ethias, cybersecurity is clearly a strategic matter. For confidentiality reasons, we cannot reveal in detail the technological protections put in place by Capgemini to protect the company’s IT data. “The priorities were two-fold: to prevent and detect attempts at hostile intrusion into Ethias’ IT systems, while also identifying threats before they happen. In short, our goal was effective surveillance for maximum security,” says Turner.

Equally important is protection against internal cyberattacks, which can come from untrustworthy or malicious employees. These types of attacks are on the rise and remain just as hard to identify as external attacks. The result is that the challenge is growing ever bigger.

Companies are using digital and internet tools to help them grow, which in turn exposes them to more cyberattacks. Cybersecurity is based on that reality.
»Mike Turner

Threat analysis: a secret weapon

Threat analysis, the early detection of risks, and having a well-rehearsed plan to respond in the event of an incident, are the keys to IT security,” continues Turner. This applies to internal threats since employees generate a huge amounts of data all which needs to be categorised and protected proportionately to its sensitivity. Naturally, this extends to external threats. Teams need to be able to identify potentially malicious IP addresses or software hosts.

Reduction in financial losses worldwide due to cybercrime between 2015 and 2016

To most efficiently achieve these objectives, Capgemini, together with its ecosystem of partners, uses the best technologies available. “Put simply, the systems in place correlate raw data to understand threats, identify abnormal behavior and detect any anomalies in the way systems operate. The main idea is to provide real-time visibility of the IT systems and technologies,” Turner concludes.

The partnership between Ethias and Capgemini has been very successful.  Capgemini has delivered 4 flagship programmes as part of Ethias’ cybersecurity strategy. The relationship continues to flourish with Capgemini working with Ethias to develop and deploy more advanced cogitative analytics to improve the early detection of advanced threat and reduce the time to respond to any suspicious activity.

Read more about how Capgemini can help you secure your assets.

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