The Country’s first cyber security public organisation has been launched by China which consists of academic institutes, individuals and internet companies including Tencent and popular internet Security Company Qihu 360.
- The Organisation aimed at better safeguarding national cyber security and guiding internet companies in perform their duties.
- The Cyber Security organisation will focus on promoting self-discipline in the industry, accelerating the establishment of industry standards and cyber security studies and participating in international cooperation.
- The association could emphasize on safeguarding the country’s internet security and building up China as an internet power, while attracting more cutting-edge cyber security enterprises and talent to enhance the industry’s authority.
- China launched its first special fund for cyber security with an initial capital of 300 million Yuan($46 million) to realise the nation’s strategic goal of becoming a strong internet power in February this year.
Why cyber security organisation is important?
- An increasing number of high profile data breaches have taught us that how a company looks after their information and manages any incidents can make or break an organisation.
- Cyber risk is now firmly at the top of the international agenda as high-profile breaches raise fears that hack attacks and other security failures could endanger the global economy.
- 90 % of companies worldwide recognize they are insufficiently prepared to protect themselves against Cyber Attacks.
- Cybercrime costs the global economy over USD 400 billion per year, according to estimates by the Centre for Strategic and International Studies.