One of those unwritten rules of cybersecurity is that you don’t brag about how good your security is. It’s more than just bad karma, it’s the type of chest-thumping that can awaken the sleeping hacker giants looking for a challenge.
But last week, Jack Ma, the founder and former executive chairman of Alibaba (if you don’t know what that is, think Amazon in Asia), showed some public swagger by sharing that the web commerce giant is subject to 300 million attempted cyber attacks every day but has never lost one cent to hackers.
So, why would he do that. What’s in it for Alibaba? Is it just a pride play or is there a benefit to a business that establishes itself as a leader in protecting consumer data. On this week’s episode we discuss that and how AI is deployed to protect data and systems in ways humans just can’t.
Plus, we look at Baltimore’s purchase of two large cyber insurance policies in the wake of the ransomware attack earlier this year that demanded $76,000 and ended up costing the city $18 million. We’ll tell you why there is still cause for concern.
Anthony Booyse, Sophos