Cyber technology is here to stay as we now live in an increasingly connected and open world. The realities of our connected world reached an unprecedented and alarming proportion in recent times with its arrival on the political and national security stage purported able to change the course of history in the sovereignty of nation states and national elections. Large number of global businesses and institutions suffered unprecedented threats and losses than ever before recorded in history of humanity. Therefore, protecting these spaces is no longer optional but of significant and major decision.
The continued rapid development of information and communication technologies, the new definition of globalization, the drastic increase in data volumes and the growing numbers of different types of equipment connected to data networks are having major impact on our daily lives, the functioning of the state, corporations and communities.
In addition, the Internet is becoming increasingly accessible. The numbers of users continue to grow. With new technological solutions and services – such as the “Internet of things”, and cloud computing – the number of potential vectors for attacks, along with the complexities of the attacks, is growing by the day.
As a result, cyber risk is now firmly at the top of the international agenda as high-profile breaches raise fears as they endanger all facets of our world. Cybercrime costs the global economy over US$400 billion per year, according to estimates by the Center for Strategic and International Studies. The estimated annual cost of cybercrime in Nigeria, is claimed to be approximately 0.08% of the country’s GDP (N127 billion).
Technical innovation throws up new online dangers. Hence, one of the challenges is that cybercrime is only likely to increase, despite the best efforts of government agencies and cyber security experts. Its growth is being driven by the expanding number of services available online and the increasing sophistication of cyber criminals who are engaged in a cat-and-mouse game with security experts.
As examples, the migration of data to third-party cloud providers has created a centralization of data and therefore more opportunities for criminals to misappropriate critical information
Similarly, the emphasis on mobile services has opened up corporate systems to more users – multiplying the opportunities to penetrate security systems and measures. Applications that involve the collection and analysis of data in large quantities – the so-called “Big Data” – put additional pressure on security practitioners and experts, as mountains of sensitive data about buyer decisions, their habits and other personal information need to be kept safe. The widespread use of machine-to-machine (M2M) communication is only likely to boost the possibility of information misuse whilst posing risks and enterprise threats. Much of the world’s critical infrastructure, such as power generation, transport and utilities, already depends on M2M. Protecting these networks thus become acutely vital.
At Halogen Security Group, our strategic focus on the entire vulnerabilities and enterprise security risk management of our clients has necessitated our focus on cyber security, as it is now one of the most urgent issues of our current existence, hence we are committed to providing risk-based approaches that an individual, organizations and governments can utilize to minimize losses and exposures in an open and continuously volatile world.
Hence, a publication such as this is required in our practice and intellectual space to assist in fashioning out strategies that increase Cyber security capabilities as well as raise the population’s awareness of cyber threats. In our view, this will assist to assure continued confidence about the security myths and realities that permeate cyberspace. With the right level of knowledge and insights, which this book provides, it will be possible for individuals, organizations and governments at all levels to control the real and anticipated risks and recover from cyber breaches and their consequences.
CEO – Halogen Security Group
Mr. Wale Olaoye is a high riding Risk Management Professional and business strategist committed to the transformation of private security’s value and impact on business and national security. His professional experience spans twenty five years across four continents with extensive capacity and influence to resource globally. He was formerly the Country/Group General Manager of TNT International (global leaders in Express, Mail, Logistics & Aviation)/IAS Express Nigeria where he also had responsibility for the overall business management for Nigeria and West Africa including network and line haul security. He was also a former Chief Operating Officer of Impex Worldwide Limited, Nigeria and United Kingdom.
A member of the American Society for Industrial Security (ASIS), Member, Association of Licensed Professional Security Practitioners of Nigeria (ALPSPN), Fellow Nigerian Institute of industrial security; FNIIS; Fellow International Institute of Professional Security, FIIPS; Police Community Relations Committee (PCRC) and Member Institute of Directors, IOD; Alumnus University of Ife, Lagos Business School, LBS; IESE of University of Navarra, Barcelona, Spain. A speaker at several local and intentional conferences and seminars.
Website: Halogen Security Group