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Innovation Key to Halt Cyber-Attacks

Innovative security systems are required in light of the number of cyber breaches taking place, according to the UK NCSC

Innovative security systems are required in light of the number of cyber breaches taking place, according to the UK National Cyber Security Centre (NCSC).

Technical Director at the NCSC, Ian Levy, said current cyber defence technologies are unlikely to be able to protect organisations in five years’ time.

At the launch of the second GCHQ cyber accelerator in London, he said: “We need innovation. We need different ways of thinking about this.”

Over 100 cybersecurity and startup entrepreneurs applied to join the second programme in the GCHQ accelerator series, but only nine were chosen for the nine month programme.

Representatives of the participating companies pitched their products and services to potential investors.

James Smith, CEO of cryptocurrency investigation firm, Elliptic, said the company’s aim is to keep cyber criminals out of cryptocurrencies.

He added that the London-based company monitors cryptocurrency transactions and works with cryptocurrency firms and law enforcement in the UK, US and Europe to identify and investigate cybercriminal activity.

Jack Chapman, CTO and co-founder for anti-phishing firm, Cybershield, said more than 90% of cyber-attacks start with an email that was not what it claimed to be.

He said: “Opening a phishing email can allow ransomware or other forms of malware onto a network leading to data breaches that each cost UK businesses more than a million pounds on average.”

To help employees identify risky emails, Cybershields changes the subject line of every email to green, amber, or red to indicate the level of risk.

The system uses an artificial intelligence (AI) algorithm based on an analysis of the key components of phishing emails to combine human and machine recognition.

Chapman said: “By detecting the techniques used behind the phishing emails, our system is able to detect new and targeting phishing attacks on phones, tablets, laptops or any other device with an email client.

“We are looking for partnerships and pilots, and to talk to anyone who understands that phishing is an issue.”

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