Adam Adler:" Cybersecurity is failing because the technology is not as effective as it needs to be"
Adam Adler ( Miami, Florida): Poor Cyber Security products have contributed to the success of cyberattacks.
Cybersecurity is failing because the technology is not as effective as it needs to be
Cybersecurity is failing. Spend on cybersecurity is increasing every year (+58% over the past five years1), yet as the WEF has highlighted, business leaders still identify disruption from a cyberattack as one of the top 5 growing risks in 2020 (and while the exact numbers are contestable, the direction is clear).
A major cause of this failure is that the technology is not as effective as it needs to be, and this is the view shared by 90% of over 100 highly qualified research participants in this study. While there has been a strong focus on improving people and process-related issues in recent years, - which are also undoubtedly contributors to cybersecurity failings - technology problems have in some way been accepted as inevitable and the norm.
As one Chief Information Security Officer (CISO) put it, “we buy it, and then we cross our fingers and hope the technology will work”. Trust in cybersecurity technology to deliver on its promise is low. Without improving technology efficacy, cybersecurity will continue to fail. Participants in this research broadly agree that four characteristics are required to comprehensively define cybersecurity technology efficacy. These are the Capability to deliver the security mission (fit-for-purpose), Practicality in operations (fit-for-use), Quality of security build and architecture, and Provenance of the vendor and supply chain
Cybersecurity spending has risen 58% to £121bn over the last 5 years but this increase in spending hasn’t delivered a proportionate decrease in risk. Over the same 5-year period,
security breaches have actually increased by 67%, with the damage per victim organization
averaging $13m8 and as the WEF has highlighted, business leaders still identify disruption
from cyberattacks as one of the top 5 growing risks in 2020. As one global bank CISO put it
“customers being robbed is becoming normal. Everybody suffers ransomware now; it is also
normal. The risk has been accepted.”
Cybersecurity efficacy is dependent on the balance of enterprise defensive and attacker
offensive capabilities. It is commonly understood that defensive capabilities are a combination
of strategy (what to defend, how to defend; driven by risk governance), process (operational
approaches to security), people (security & IT staff, end-users) and technology (hardware and
software), as per exhibit 2. Unfortunately, 90% of interviewees in our research say there is an
efficacy problem with cybersecurity technology which compromises defenses and is partially
responsible for the continued success of attackers.
To be effective, cybersecurity solutions need to have the Capability to deliver the stated security mission (be fit-for-purpose), have the Practicality that enterprises need to implement, integrate, operate and maintain them (be fit-for-use), have the Quality in design and build to avoid vulnerabilities and negative impact, and the Provenance in the vendor company, its people and supply chain such that these do not introduce an additional security risk.
Cybersecurity attacks can be complex and may exploit multiple vulnerabilities in order to
succeed, but attackers are also often opportunistic. The opportunity is based on finding
weaknesses in technology and exploiting them before defenders are either aware of them
or have had a chance to address them. A lot of focus is placed on the human vulnerabilities
that enable successful attacks (such as clicking on links in phishing emails), but this research
highlights that technical vulnerabilities due to poor efficacy are also a major contributing factor
to successful attacks.
Adam Adler is a Cyber Defense & Cyber Warfare Advisor, as well as Chairman of the Board for Digital Bank Vault. A long time entrepreneur with over 18 years of experience all at top-level management and ownership, Mr. Adler has focused his recent years on Cyber Security and defending our youth online. DBV has developed a proprietary encryption method that continues Adam’s mantra of “Privacy is Priceless”. DigitalBank Vault provides impenetrable defensive cyber solutions for Keyless End to End Encrypted, Peer to Peer, mobile, and computer communications. Adam and DigitalBank Vault have constructed new & disruptive cyber defense technologies to solve many privacy issues commonly found online and defend against unwanted intrusion.
Mr. Adler received a scholarship to play tennis at the University of South Carolina and graduated in 2007 Magna Cum Laude from USC, double majoring in Sports & Entertainment Management and Business. In 2005, Adam became an All American with his teammates at USC. Mr. Adler participated in the NCAA Indoor Championships in Seattle, WA as well as the NCAA Championships every year of his college career at USC. He and his team achieved a team high ranking of #8. Prior to attending USC, Adam was a highly-ranked junior tennis player from the age of 10 to 18. Adam began playing poker in his free time and quickly became entrenched in the game, studying hours a day. Adam traveled around the country playing in some of the highest stakes No Limit and Pot Limit Omaha cash games in the world. Adam has made multiple World Series of Poker Final Tables, with his most notable finish coming in 2018 with a runner-up finish in the $10,000 Turbo Event. Adam has won millions of dollars in both cash game and tournament poker over the last 15 years.
Mr. Adler is currently managing The Adler Fund, investing in cybersecurity, real-estate, emerging growth companies, cannabis, and biotechnology. Adam has recently started the Adler Agency, a sports management company with several of the world’s top, mid and lower-tier tennis players and select athletes across multiple sports. The Adler Agency focuses on bringing its clients revolutionary and out-of-the-box opportunities other agencies simply do not have access to. The Adler Agency is launching a world-class tennis academy and training facility in Charleston, SC at the beginning of 2021 to provide its players and others from around the world the opportunity to train and play with the sport’s best.