Why Companies Must Share Cyber-Threat Intelligence

By Samuel Greengard  |  Posted 2016-05-25 Email

If it seems as if the cyber-security landscape just keeps getting more threatening, you're not imagining things. For example, in February, Hollywood Presbyterian Medical Center in Los Angeles paid 40 bitcoins—about $17,000—to unlock its computer systems after a ransomware attack shut down its IT systems for nearly two weeks. How can organizations prepare for and respond to cyber-attacks? One promising method involves sharing information and intelligence. A study of 500 cyber-security professionals conducted by Intel Security, the 2016 "McAfee Labs Threats Report," found that ransomware is rampant, and mobile malware is growing. Yet, the use of defense tools such as information sharing and cyber-threat intelligence (CTI) can pay big dividends. Unfortunately, "High-value CTI must overcome the barriers of organizational policies, regulatory restrictions, risks associated with attribution, trust and a lack of implementation knowledge before its potential can be fully realized," said Vincent Weafer, vice president of Intel Security's McAfee Labs group. "Given the determination demonstrated by cyber-criminals, CTI sharing will become an important tool in tilting the cyber-security balance of power in favor of defenders."

Samuel Greengard writes about business and technology for Baseline, CIO Insight and other publications. His most recent book is The Internet of Things (MIT Press, 2015).

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