BT Pushes Investments in Cybersecurity
BT announced a multi-million pound investment in Safe Security, a US-based cyber risk management company. The investment is a part of the operator’s plans to protect its operations and customers against increasing threats of attack.
The company stated it had made the investment, the value of which remained undisclosed, in response to the number and impact of cyberattacks increasing rapidly to an average of 6,500 a day. It also cited industry analysis estimates the cost of global cybercrime reached more than $1 trillion in 2020.
In particular, BT is interested in Safe Security’s Security Assessment Framework for Enterprises (SAFE), a platform which allows organisations to take a health check of their existing defences and understand their likelihood of suffering a major cyberattack. BT explained the investment will allow it to combine the SAFE platform with its own managed security services, providing customers a real-time view of how safe they are against a fast-moving cyberthreat landscape.
The platform is currently used by multiple Fortune 500 companies and governments around the world, added BT. As part of the agreement, BT will be granted exclusive rights to use and sell SAFE to businesses and public sector bodies in the UK, and will incorporate the platform within its wider global portfolio. BT added it will also work with Safe Security to develop future products.