An agreement to counter cybercrime has been signed by the major international technology firms. Named the Cybersecurity Tech Accord, the agreement, signed in San Francisco during a security conference, aims to improve online security worldwide. Its signatories include Facebook, Telefonica and Microsoft, as well as many companies that specialize in computer security. The 34 companies are ABB, Arm, Avast!, Bitdefender, BT, CA Technologies, Cisco, Cloudflare, DataStax, Dell, DocuSign, Facebook, Fastly, FireEye, F-Secure, GitHub, Guardtime, HP Inc, HPE, Intuit, Juniper Networks, LinkedIn, Microsoft, Nielsen, Nokia, Oracle, RSA, SAP, Stripe, Symantec, Telefonica, Tenable, Trend Micro and VMware.
The state of international cybercrime
“The devastating attacks from the past year demonstrate that cyber security is not just about what any single company can do, but also about what we can all do together,” commented Microsoft President Brad Smith. “This tech sector accord will help us take a principled path toward more effective steps to work together and defend customers around the world.” According to the latest report by Clusit, the Italian cyber security association, cyberattacks caused 500 billion dollars of damage worldwide in 2017. Cyberattacks have risen by 240% compared to 2011, the year in which the report was presented for the first time. Compared to 2016, they have risen by 7%. According to the report, simple malware is responsible for most attacks. It is now industrially produced at ever decreasing costs: in 2017, malware attacks rose by 95% compared to 2016, when they rose by 116% over 2015. It is estimated that cyberattacks could cause, by 2022, economic losses close to the huge figure of 8 trillion dollars, hitting businesses and companies of all sizes.
The principles of the Cybersecurity Tech Accord
The Cybersecurity Tech Accord outlines four fundamental principles. Firstly, members are committed to protecting all users and customers wherever they are – be they individuals, organizations or governments – and regardless of their technical skills, culture, geographical location or the attackers’ reasons (criminal or geopolitical). Secondly, companies commit themselves to not supporting governments launching cyberattacks against innocent people, safeguarding citizens wherever they are. The signatories also intend to allow users, customers and developers to strengthen their protection against cyber threats. This goal will be achieved by providing more information and better tools for understanding current and future threats and developing adequate defences. Civil society, governments and international organizations will thus be supported in order to improve the security of the digital world and to develop cybersecurity systems in advanced and emerging economies. Finally, the group is willing to collaborate with other bodies and organizations that share the same intentions to strengthen global cybersecurity.