Now Morgan Stanley joined a growing list of prominent corporate brands to suffer data breaches, after one of his financial advisors stole the information of as many as 350,000 wealth management clients. Many other large companies including Adobe Systems, Automated Data Processing, Citigroup, E*Trade Financial, Fidelity Investments, Home Depot, HSBC, JPMorgan Chase, Nasdaq OMX, Neiman Marcus, Sony, Target and Wal-mart had suffered high-profile cyber security breaches. Who is next? Edgar Perez, author of Knightmare on Wall Street, will discuss what consumers and investors need to learn from these cybersecurity incidents in the United States at Cyber Security World Conference 2015 New York City, on January 9. More information at http://cybersecurityworldconference.com.
Editor’s note: Steve Herrod is managing director at General Catalyst Partners and the former CTO and SVP of R&D of VMware.
As we bear witness to the aftermath of major attacks this year against the likes of Target, Home Depot, Neiman Marcus and most recently, Sony, it becomes clear that we are entering an entirely new “war” against cyber crime. Those who do not change their approach will lose.
The sophistication and proliferation of advanced malware is greater than it has ever been, and widespread awareness of this problem is being fueled by the near daily headlines touting the latest company to fall victim to a cyber attack. Large enterprises are investing more money into cybersecurity technologies than ever before, and the need for a stronger and more comprehensive security model has become a board-level discussion as the severity of these attacks hits home for businesses and consumers alike.
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