Security Market Segment LS
Wednesday, 24 June 2020 11:41

KPMG, CyberHat team up to launch 24/7 cyber security solution for SMEs

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Advisory firm KPMG Australia and global cyber security company CyberHat have launched a 24/7 monitoring solution - Cybero - designed to scan, detect and react to cyber threats and aimed at helping Australian SMEs control their cyber security.

According to Linda Chai, Partner, KPMG Enterprise, the CyberHat alliance “levels the playing field for Australian SMEs when it came to cyber security”.

"With cyber attacks on the rise, many Australian SMEs are faced with increasing risk at a time when they may not have the IT capability or budget to invest in sophisticated cyber protections. Through no fault of their own, they’re simply not as protected as large organisations,” Chai said.

“That is why we are delighted to join forces with CyberHat and launch the global-leading Cyrebro system in Australia. Together, we will offer SMEs access to expertise and technology previously beyond the reach of all but the largest and most sophisticated technology operations.”

KPMG says that with the annual cost of cyber crime to Australian businesses reaching $29 billion, and COVID-19 widening the gap between SMEs and large organisations when it comes to cyber protection, it has formed the alliance with CyberHat to bring “best-in-class cyber security to mid-market companies and SMEs” and to counter the security threats and data breaches.

KPMG cites a 2019 survey by the Australian Cyber Security Centre that found that 62% of SMEs had been the victim of a cyber security incident, with the global average cost of a data breach to a business now estimated to be US$3.86 million.

Linda Chai, Partner, KPMG Enterprise says the CyberHat alliance “levels the playing field” for Australian SMEs when it came to cyber security.

"With cyber attacks on the rise, many Australian SMEs are faced with increasing risk at a time when they may not have the IT capability or budget to invest in sophisticated cyber protections. Through no fault of their own, they’re simply not as protected as large organisations,” she said.

“That is why we are delighted to join forces with CyberHat and launch the global-leading Cyrebro system in Australia. Together, we will offer SMEs access to expertise and technology previously beyond the reach of all but the largest and most sophisticated technology operations.”

The Cyrebro solution monitors a company’s network environment "24 hours a day, 7 days a week" to provide what KPMG says is an “affordable, integrated cyberattack detection, response and threat intelligence services from a security operations”.

“If a breach, threat or attack is detected, specialists from CyberHat and KPMG will work with the SME to manage and rectify the situation,” KPMG says.

“The set-up process also helps SMEs to understand their cyber risk, with KPMG Enterprise and CyberHat evaluating the current state of an organisation’s technology. An organisations systems will then be ‘plugged in’ to the Cyrebro system which uses proprietary algorithms and ‘always-on’ data monitoring to ensure that the client’s technology is safe.

According to KPMG, Cyrebro is particularly suitable for businesses active in areas where sensitive data is held, such as financial services, healthcare and not-for-profits.

CyberHat CEO Nadav Arbel says: "Many smaller organisations struggle to keep up with technology and digital disruption, even though the threat from cyber-crime is growing”.

“We’re delighted to enter this alliance with KPMG Australia and bring our flagship product to Australian SMEs. Companies’ growing dependence on digital information and digital interconnections leaves them facing a rising risk of cyberattacks that can cause significant financial, operational and reputational damage.”

"For private and public companies alike, effective cybersecurity is essential – but building in-house cybersecurity capabilities for a world of ever-evolving threats can be complex, time-consuming and costly.

“Cyrebro is an affordable solution that gives top tier security to SMEs. It provides a unique, monitoring optimisation process, designed from an attacker’s point of view.

“It has advanced forensic capabilities, with analysts and experts drawn from state-level cyber agencies, providing 24/7 professional level incident response."


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