Cyber-Protection for Smart Cities

Cybercriminals are increasingly targeting banks, investment companies, and insurers to steal information and money, obliterate critical infrastructure, disrupt operations, and compromise data-rich financial services institutions (FSIs). The increasing types of cyber risks within these financial institutions have made cyber exposures to rank second only to regulatory/compliance concerns. When it comes to smart city initiatives, the rising IoT adoption has presented a number of vulnerabilities, especially in systems that contain legacy components using old software, which have not been regularly patched.

Move from Security as a Cost to Security as a Plus

Security is usually positioned as a business obligation. It is defined as a cost to pay to be compliant, or a cost to pay to reduce risk. In order to utilize security as an enabler, organizations must move to a model of security as risk and trust management. For example, managing public data access leverages the monetary value of the data instead of focusing on the protection of the data itself.

Continually Learn and Evolve

The cycle of continual improvement is essential due to ever-evolving nature of the cybercriminals,…