IT security firms rake moolah out of web attacks
By siliconindia   |   Monday, 11 May 2009, 15:58 IST   |    6 Comments
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IT security firms rake moolah out of web attacks
New Delhi: The surge of spams and phising attacks has proved to be a boon for the IT security firms like Symantec, Quick Heal and Trend Micro, as companies are increasingly turning to these firms for security solutions. "Currently, more than 50 percent of our business comes from large corporations and it is the small and medium businesses that needs a push," said Amit Nath, Country Manager (India), Trend Micro. The sophistication in the web attacks and the loss incurred has triggered the surge in companies opting for the security firms. "Hackers study all measures of prevention available in the market and make prepared measures non-effective. Awareness of the latest trends in Web threats and active implementation of security policies are the only effective measure," Sanjay Katkar, Chief Technology Officer, Quick Heal said. A study conducted by the Ponemon Institute, a privacy and data-protection research group reveals that the total average cost per company was more than $6.6 million per breach, up from $6.3 million in 2007. "Along with financial gain from sale of valuable information, profits from one exploit are often re-invested and used for hiring developers for other scams, or to purchase new malicious code or phishing toolkits," said Shantanu Ghosh, Vice-President, Symantec India. As per a report of the IT firm Symantec, the potential worth of goods advertised in the underground Web economy is a whopping $276 million.

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