Internet flaws see annual loss of over US$15b
Print Edition
MORE than 100 billion yuan (US$15 billion) is lost annually in China through the black industry chain of Internet security loopholes, opening huge opportunities to software security firms, industry officials said yesterday.
Major risks on data leakages among enterprises, mobile application loopholes and lack of protection on Internet of Things devices have boosted demand for such firms, they added.
China has more than 1.5 million hackers seeking profit from cyber loopholes, creating a black industry chain valued at over 100 billion yuan annually. More than 97 percent of mobile applications have loopholes, said Chen Shuhua, Alibaba’s mobile security director.
The complexity of devices and systems has brought huge potential risks to users and enterprises, which require high-level data encryption and safety services, Lukas Raska, chief operating officer of ESET, one of the top-five global security firms, said yesterday.
ESET, whose clients include Tsingtao Brewery and Tsinghua University, aims to expand its market share. Its revenue grew 15 percent in China last year.
“Dozens of millions” malicious attacks are found daily to target consumers and firms, causing a huge financial loss and business data leakage. The trend of BYOD, or bring your own devices, to offices also fuels Internet crimes, according to Lukas.
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