BT invests in technology to fight cyber risk management

July 21, 2021 // By Jean-Pierre Joosting
BT invests in technology to fight cyber risk
Global cost of cyber crime now US$1 trillion annually with BT protecting its operations and customers against 6,500 cyber attacks a day on average.

As the number and impact of cyber crime attacks continues to increase rapidly, BT has announced a multi-million pound investment in Safe Security, an industry-leading cyber risk management firm. Based in Silicon Valley, their SAFE ('Security Assessment Framework for Enterprises') platform allows organisations to take a health check of their existing defences and understand their likelihood of suffering a major cyber attack.

Industry analysis estimates that the cost of global cyber crime reached over US$1 trillion in 2020, as criminals exploited seismic changes in everyday life to target both individuals and organisations of all sizes. With high-profile recent incidents impacting critical areas such as energy infrastructure and medical care, businesses and governments are under huge pressure to objectively assess how protected they are against the latest forms of cyber attack.

The investment will allow BT to combine the SAFE platform with its world-leading managed security services to provide customers with a real time view of how safe they are against an incredibly fast-moving cyber crime threat landscape. SAFE is unique in calculating a financial cost to customers' risks and giving actionable insight on the steps that can be taken to address them. The platform ultimately enables organisations to surgically target gaps in their defences, and already protects multiple Fortune 500 companies and governments around the world.

Philip Jansen, Chief Executive of BT, said: "Cyber security is now at the top of the agenda for businesses and governments, who need to be able to trust that they're protected against increasing levels of attack. Adding SAFE to BT's proactive, predictive security services will give customers an enhanced view of their threat level, and rapidly pinpoint specific actions needed to strengthen their defences. Already one of the world's leading providers in a highly fragmented security market, this investment is a clear sign of BT's ambition to grow further."


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