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Cyber security meet kicks off in Israel today

As the world’s fastest growing economies have been adapting to new digital technologies, the threat of cyber attacks have grown…

Cyber security meet kicks off in Israel today

(PHOTO: Getty Images)

As the world’s fastest growing economies have been adapting to new digital technologies, the threat of cyber attacks have grown exponentially. In a bid to counter these attacks, Israel’s prestigious annual 7th Cyber Week 2017 conference kicks off on Monday. It will witness participation of around 50 countries and more than 7,000 delegates from all over the world.

The Cyber Week meet brings together industry leaders, startups, investors, academics, diplomats and other government officials. This year's event will be  inaugurated by Israeli Prime Minister Benjamin Netanyahu along with other dignitaries like Thomas Bossert, US President Donald Trump's Homeland Security adviser.

Terming it as the ‘Dark Side of Cyber Technology’, Prof. Isaac Ben Israel, the key man for cyber defence in Israel, said it is impossible to have a five-year plan for upgrading technological challenges since ‘5 years is equivalent to 2-3 generations’. Ben advocated a three-tier eco system – the government, the industry and the education system — that would eventually minimise and mitigate the risks of the digital age.

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“Every day, nowadays, there are millions of attacks. Basically a computer generation is one and a half years. With cyber it’s even less. Every year to a year and a half, comes a new generation of cyber techniques. It’s a crazy pace. I cannot tell you what the cyber threats will be in five years — even though that’s my profession,” Ben added.

Cyber security is the key issue for organisations in 2017, because cyber threats create incredible financial risk across the board.  Banks are at risk of massive financial losses through cyber theft, enterprises face fraud threats from customers, vendors and even rogue employees, and critical infrastructure must be protected against costly attacks from enemy nation-states and political activists.

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