The annual global economic damage wrought by cyber-crimes is estimated in the hundreds of billions of dollars. Hackers, governments, and terror organizations have come to understand that hitting computer infrastructures can cause major damage. These days, it's no longer necessary to walk into a bank with a gun - it's far more profitable to break into the bank's computer system and to use it to steal vast sums - and this is, of course, but one example.
Governments and mega-corporations invest significant resources in cyber-defense, to protect critical information. General Electric (GE) is joining in on this trend, and is holding a cyber-security hackathon tomorrow. The event is being held in conjunction with Tel Aviv University and will include a competition with prizes. There are currently dozens of cyber-security start-ups in Israel with technologies that are very interesting to international companies.
GE is currently in the process of expanding its Israel operations, and is recruiting information security experts at its Herzliya development center. GE Israel Lead Cyber Security Researcher Igor Berdichevski said, "We are examining how to protect and attack the most critical systems that the company manufactures: airplanes, reactors, power stations, and trains. We attack these systems and learn where the product's vulnerabilities are, and then learn how to protect these systems. In this manner, we increase the security of the product."
Published by Globes [online], Israel business news - www.globes-online.com - on May 26, 2015
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