Geopolitics can lead to hacks
The number of factors that can boost a company's need for IT security are significant. In recent geopolitical incidents, firms have found themselves targeted despite a tenuous connection to the larger events at stake. According to the New York Times, websites for large banks including Bank of America and JPMorgan Chase were recently hacked. The group claiming responsibility said its actions were a reaction to the controversial anti-Islam video "Innocence of Muslims," a production that none of the banks were involved with.
The Times reported that the actions against banks adhered to the distributed denial of service (DDoS) model, meant to overload servers and shut down websites. Fortunately for the banks and their customers, such methods generally do not harm or expose private information. The motivation claimed for the attack was a concerted effort to force authorities to take the extended "Innocence of Muslims" trailer down from YouTube, with the banks selected as high-value targets.
According to the news provider, cyber attacks designed to advance a larger political agenda have grown in recent years. The banks largely weathered the storm, which may have originated from Iran, though the attackers claim no allegiance to the Iranian government. The Times noted that experts in the security field have seen a rising number online events coming from Iran as that country fortifies its computing infrastructure.
Companies have not been hesitant when purchasing security products in recent years, with Gartner researchers explaining that not even the threat of future economic worries has shaken IT leaders' faith in advanced security solutions and increased spending. While half of respondents to Gartner's recent survey predicted the security budget would remain steady, very few saw the potential for a decrease. Five percent predicted less spending on security products next year, the remaining 45 percent predicting a boost.