EY to invest $20 million in cyber security fight

Cyber securityEY, a business services provider, has launched a service that it says can predict future cyber threats.

EY’s Managed Security Operations Centre (SOC) uses advanced analytics to identify cyber threats for clients, after its own research found over half of organisations are unlikely to detect sophisticated cyber crimes or be able to do anything about them.

EY is set to invest over $20 million (€17.7 million) over the next five years in strengthening the centre, increasing its Managed SOC cybersecurity professionals’ six-fold to upwards of 1,200 by 2020.

In May, Funds Europe reported on the evolving risk of cyber crime.

Paul van Kessel, EY global risk leader, says: “The question is not if your company will be breached, or even when. More than likely it has already happened. The real question is: How well are you protected for the future? More often than not, our clients do not actually have the necessary skills or capacity to investigate the cyber attack further in an efficient manner.”

The service uses remote monitoring from India coupled with onsite guidance to investigate incidents.

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