As the advent of the Internet of Things (IoT) continues to increase data exponentially, cyber-attacks and data breaches persist at alarming rates and effectiveness.
These circumstances create a need that has fostered a booming business for contractors whose business services and products are designed to assist corporations with defending against hackers and nefarious intruders.
The recent data breach against Target stores resulted in customers’ credit and debit card information being stolen. According to reports, hackers who attacked the credit card payment system of Neiman Marcus belong to a sophisticated Russia-based organization that has been attacking more than 100 retailers over the course seven plus years. Attempts to shut down this criminal network have failed thus far.
Many defense companies who have been defending government computers from security threats are now expanding their business model to the private sector and tailoring their offerings to assist companies that need to protect confidential, proprietary digital data.
In fact, defense firms market themselves as being better equipped than other cybersecurity companies. The logic is that if you can help the U.S. government hack-in, you are equally qualified to prevent similar hacks from infiltrating your business.
The types of services offered to defend against hacking varies. Some companies sell software aimed at detecting malicious computer code and implementing antivirus programs. Others offer consulting services on preventing cyber-attacks in specific industries or markets.
Security analysts for traditional tech companies argue that it is unclear or otherwise unproven whether defense firms offer better protection than they do, but it is evident that defense firms are more expensive to retain. As a result, these defense firms are often only within reach of larger companies such as multi-national banks and conglomerates , while the commercial tech companies are used by more mainstream businesses.
One consideration for multinational companies is that the contractors’ cybersecurity programs may be so strong that the programs cannot be legally exported to certain countries.
Still, you can expect to see defense firms increasing their cybersecurity offerings and the overall industry of defending against hacking to steadily expand. And like most “new” things and offerings, price points are likely to be scaled over time and with increased competition to be more affordable.
Does Your Homeowners Insurance Provide Adequate Coverage?
Your home is likely your greatest asset, which is why it is so important to adequately protect it. Homeowners insurance protects you from the financial costs of unforeseen losses, such as theft, fire, and natural disasters, by helping you rebuild and replace possessions that were lost While the definition of “adequate” coverage depends upon a […]
Understanding the Importance of a Non-Contingent Offer
Making a non-contingent offer can dramatically increase your chances of securing a real estate transaction, particularly in competitive markets like New York City. However, buyers should understand that waiving contingencies, including those related to financing, or appraisals, also comes with significant risks. Determining your best strategy requires careful analysis of the property, the market, and […]
Fred D. Zemel Appointed Chair of Strategic Planning at Scarinci & Hollenbeck, LLC
Business Transactional Attorney Zemel to Spearhead Strategic Initiatives for Continued Growth and Innovation Little Falls, NJ – February 21, 2025 – Scarinci & Hollenbeck, LLC is pleased to announce that Partner Fred D. Zemel has been named Chair of the firm’s Strategic Planning Committee. In this role, Mr. Zemel will lead the committee in identifying, […]
Novation Agreement Process: Step-by-Step Guide for Businesses
Big changes sometimes occur during the life cycle of a contract. Cancelling a contract outright can be bad for your reputation and your bottom line. Businesses need to know how to best address a change in circumstances, while also protecting their legal rights. One option is to transfer the “benefits and the burdens” of a […]
What Is a Trade Secret? Key Elements and Legal Protections Explained
What is a trade secret and why you you protect them? Technology has made trade secret theft even easier and more prevalent. In fact, businesses lose billions of dollars every year due to trade secret theft committed by employees, competitors, and even foreign governments. But what is a trade secret? And how do you protect […]
What Is Title Insurance? Safeguarding Against Title Defects
If you are considering the purchase of a property, you may wonder — what is title insurance, do I need it, and why do I need it? Even seasoned property owners may question if the added expense and extra paperwork is really necessary, especially considering that people and entities insured by title insurance make fewer […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Defense Against Hacking: Is A New Industry Emerging?
Author: Scarinci Hollenbeck, LLC
As the advent of the Internet of Things (IoT) continues to increase data exponentially, cyber-attacks and data breaches persist at alarming rates and effectiveness.
These circumstances create a need that has fostered a booming business for contractors whose business services and products are designed to assist corporations with defending against hackers and nefarious intruders.
The recent data breach against Target stores resulted in customers’ credit and debit card information being stolen. According to reports, hackers who attacked the credit card payment system of Neiman Marcus belong to a sophisticated Russia-based organization that has been attacking more than 100 retailers over the course seven plus years. Attempts to shut down this criminal network have failed thus far.
Many defense companies who have been defending government computers from security threats are now expanding their business model to the private sector and tailoring their offerings to assist companies that need to protect confidential, proprietary digital data.
In fact, defense firms market themselves as being better equipped than other cybersecurity companies. The logic is that if you can help the U.S. government hack-in, you are equally qualified to prevent similar hacks from infiltrating your business.
The types of services offered to defend against hacking varies. Some companies sell software aimed at detecting malicious computer code and implementing antivirus programs. Others offer consulting services on preventing cyber-attacks in specific industries or markets.
Security analysts for traditional tech companies argue that it is unclear or otherwise unproven whether defense firms offer better protection than they do, but it is evident that defense firms are more expensive to retain. As a result, these defense firms are often only within reach of larger companies such as multi-national banks and conglomerates , while the commercial tech companies are used by more mainstream businesses.
One consideration for multinational companies is that the contractors’ cybersecurity programs may be so strong that the programs cannot be legally exported to certain countries.
Still, you can expect to see defense firms increasing their cybersecurity offerings and the overall industry of defending against hacking to steadily expand. And like most “new” things and offerings, price points are likely to be scaled over time and with increased competition to be more affordable.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
