Are Bermuda Businesses Any Safer from Cybercriminals?

The recent cyberattack on JP Morgan (News - Alert) Chase clearly shows even the best-resourced organization is challenged to effectively respond to the growing threat of a security breach. Apparently, to outsmart these hackers, a different solution is needed – one that combines human intelligence and machine learning. Logic Communications along with Masergy may just provide that sort of managed network security to Bermuda businesses.

“Masergy brings a unique combination of technical innovation and human expertise to the increasingly complex array of cyber security threats being faced by organizations around the world,” said Chris MacFarland (News - Alert), chairman and CEO, Masergy.

Masergy believes that an increased spend on security will not necessarily ensure better security posture. To counter today’s cyberattacks in a rapidly evolving threat landscape, businesses would need to be equipped with a fully-integrated, managed security solution such as the one built on the company’s patented unified enterprise security (UES) platform, which leverages the power of machine learning and human intelligence.

UES is unique in that it uses adaptive behavioral analytics and machine learning to monitor network activity and continuously adapts to changing threat conditions. Such technology when combined with the continuous monitoring of Masergy security experts is expected to help businesses anticipate and detect malicious activities.

Security breaches cost companies billions of dollars each year and can occur as a result of malicious or criminal attacks. According to the 2014 Cost of Data Breach Study, the average cost of a single incident among the companies surveyed is $3.5 million, something that they can ill afford. More and more companies turning to third party experts for protection and Masergy will work with Logic customers to implement security solutions and provide on-going service.

With UES, which can be deployed as a standalone solution or integrated with companies’ existing security point solutions, and Masergy’s full range of professional services, businesses will hopefully be well guarded from external threats.

“Masergy’s managed security solutions provide an integrated approach to the continuous monitoring of all the elements in an enterprise network. We are thrilled to bring this sophisticated service, combined with Masergy’s expertise and customer service, to our clients,” noted Vicki Coelho, CEO at Logic.

The financial, insurance and reinsurance industries are stated to be among the top sectors with the costliest data breaches; can the Logic-Masergy partnership turn the tide for them?