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Firms hit by global cyber attack

by LLB Reporter
28th Jun 17 10:08 am

Here’s what experts say

Another major global cyber-attack yesterday hit organisations such as WPP, Maersk and Mondelez as well as the Ukrainian government.

Tom Fitzgerald, associate fund manager, EdenTree Investment Management, said: 

“Despite the development of a large and expanding market for cybersecurity technologies and services, the frequency and magnitude of cyberattacks against enterprise and government organisations continues to grow in volume and sophistication.

“These cyberattacks continue to impact organisations, despite the fact cybersecurity technology and services has been one of the fastest growing areas within technology over the last few years, increasing (in terms of revenues) at an average rate of 9.5 per cent  annually since 2010, according to Gartner. The overall IT infrastructure market has grown by just one per cent over the same period. This suggests the current security paradigm – encompassing security technology and services, as well as government and management-level oversight – is still yielding ineffective results.”


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