With the annual cost of cyber crime to Australian businesses reaching $29 billion, and COVID-19 widening the gap between SMEs and large organisations when it comes to cyber protection, KPMG Australia has formed an alliance with CyberHat to bring best-in-class cyber security to mid-market companies and SMEs.
A 2019 survey by the Australian Cyber Security Centre found that 62 percent of SMEs had been the victim of a cyber security incident. The global average cost of a data breach to a business is now estimated to be US$3.86 million. To counter this threat, KPMG and CyberHat today launched Cyrebro, a 24/7 monitoring solution that helps SMEs to scan, detect and react to cyber threats.
Linda Chai, Partner, KPMG Enterprise says the CyberHat alliance levels the playing field for Australian SMEs when it came to cyber security.
"With cyber attacks on the rise, many Australian SMEs are faced with increasing risk at a time when they may not have the IT capability or budget to invest in sophisticated cyber protections. Through no fault of their own, they’re simply not as protected as large organisations,” she said.
“That is why we are delighted to join forces with CyberHat and launch the global-leading Cyrebro system in Australia. Together, we will offer SMEs access to expertise and technology previously beyond the reach of all but the largest and most sophisticated technology operations.”
Cyrebro monitors a company’s network environment 24 hours a day, 7 days a week to provide affordable, integrated cyberattack detection, response and threat intelligence services from a Security Operations Centre. If a breach, threat or attack is detected, specialists from CyberHat and KPMG will work with the SME to manage and rectify the situation.
The set-up process also helps SMEs to understand their cyber risk, with KPMG Enterprise and CyberHat evaluating the current state of an organisation’s technology. An organisations systems will then be “plugged in” to the Cyrebro system which uses proprietary algorithms and ‘always-on’ data monitoring to ensure that the client’s technology is safe.
Cyrebro is particularly suitable for businesses active in areas where sensitive data is held, such as financial services, healthcare and not-for-profits.
CyberHat CEO Nadav Arbel says: "Many smaller organisations struggle to keep up with technology and digital disruption, even though the threat from cyber-crime is growing. We’re delighted to enter this alliance with KPMG Australia and bring our flagship product to Australian SMEs. Companies’ growing dependence on digital information and digital interconnections leaves them facing a rising risk of cyberattacks that can cause significant financial, operational and reputational damage.”
"For private and public companies alike, effective cybersecurity is essential – but building in-house cybersecurity capabilities for a world of ever-evolving threats can be complex, time-consuming and costly. Cyrebro is an affordable solution that gives top tier security to SMEs. It provides a unique, monitoring optimisation process, designed from an attacker’s point of view. It has advanced forensic capabilities, with analysts and experts drawn from state-level cyber agencies, providing 24/7 professional level incident response," he added.
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With offices in the US and Israel, CyberHat provides professional cybersecurity solutions that enable clients to grow their business and keep their working environment secure. Drawing on extensive hands-on experience conducting forensic and post-mortem cybersecurity investigations, advanced hacking simulations and cyber assessments for public and private companies of all sizes, CyberHat protects organisations in financial services, retail, telecom, energy, infrastructure and other industries worldwide.
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