To help organisations combat the increasingly sophisticated and organised cyber-attacks, IBM has launched a new cyber threat intelligence sharing platform: IBM X-Force Exchange. Via the platform, which is powered by IBM Cloud, users can access threat information from IBM and peer organisations as well as share their own findings. According to IBM, this will foster the collaboration needed to counter cybercrime.
Organised cyber-crime, in which data, tools and expertise are shared, is the most profitable type of crime, which is costing the global economy $445 billon every year. More and more hackers are entering the organised segment of cybercrime, with at present day 80% of cyber-attacks being driven by highly organised crime rings.
To combat this upcoming form of cybercrime, organisations are increasingly in need of trusted threat intelligence, which, unlike the attackers, is often not organised. 65% of house cyber security teams use multiple sources of trusted and untrusted external intelligence to fight attackers.
IBM X-Force Exchange
To help organisations tackle this problem, IT giant IBM has decided to make its vast library of security intelligence data available via the IBM X-Force Exchange, which is its new cyber threat intelligence sharing platform. Via the platform, which is powered by IBM Cloud, users will be able to access threat data from IBM and third-parties across the globe, including real-time indicators of live attacks, which can be used to defend against cybercrimes.
While using IBM X-Force Exchange, organisations will be able to directly interact with IBM’s security analysts and researchers, as well as with their industry peers to validate threat findings and expose them to other companies fighting cybercrime.
“The IBM X-Force Exchange platform will foster collaboration on a scale necessary to counter the rapidly rising and sophisticated threats that companies are facing from cybercriminals,” explains Brendan Hannigan, General Manager at IBM Security. “We’re taking the lead by opening up our own deep and global network of cyber threat research, customers, technologies and experts. By inviting the industry to join our efforts and share their own intelligence, we’re aiming to accelerate the formation of the networks and relationships we need to fight hackers.”