WORLD ECONOMIC FORUM - COUNTRIES SHOULD INVEST MORE ON CYBERSECURITY

During the world economic forum in Davos this year, Cybersecurity was one of the "AGENDA". François Hollande emphasized on countries to invest more on cybersecurity. Eugene Kaspersky, chairman and CEO of Kaspersky Lab, also addressed the most pressing issues facing cybersecurity during a panel session.

In the panel discussion – Thomas Hendrik Ilves, President of Estonia; Jean-Paul Laborde, Executive Director of the United Nations Security Council Counter-Terrorism Committee Executive Directorate; and Bradford L. Smith, Executive Vice-President of Microsoft Corporation considered how it is possible to balance security and privacy in the Internet age, how to build resilient cyberdefenses on a national level, and how international cooperation can bolster global cybersecurity generally.

Ahead of the meeting, Eugene Kaspersky said: “The importance of cybersecurity is growing in line with the growth of our reliance on computer networks and connected devices. WEF in Davos is an excellent opportunity for world leaders to address the most burning issues we face in cyberspace. I’ve been observing how year by year Cyberthreats and the ways to address them are gaining in importance on the agendas of the Davos Forums.”

“I can see how the protection of critical infrastructure from cyberattacks has become an important priority for world leaders. My company has investigated and tackled some of the most sophisticated cyberattacks in history, and this expertise is very much in demand today.” Eugene added.

In other hand, "Cyber value-at-risk" framework was proposed in a new report entitled 'Partnering for Cyber Resilience: Towards the Quantification of Cyber Threats' and was created in collaboration with Deloitte. The idea behind the framework is to help organizations answer questions about their susceptibility to cyber-attacks, how valuable their key assets are and who might be after them.

"The goal of cyber value-at-risk is to standardize and unify different factors into a single normal distribution that can quantify the value at risk in case of a cyberattack," according to the report. "The effort should both be specific to the organization and reflect industry-wide trends. Once there is a statistical model to measure cyber risks, it can be incorporated into a broader risk strategy of a company."

The framework includes three principle components: the assets under threat, profile of the attacker based on who the attacker is and their motivation and information about vulnerabilities and defenses in the enterprise.