The facts on the frequency and cost of cyberwar and data breaches all speak to the reality that the current cybersecurity approach is fundamentally flawed, and the problem appears to be worsening.

Hackers recently gained access to the Metropolitan Transportation Authority‘s computers and targeted the energy sector, with the Colonial Pipeline ransomware attack affecting 45 percent of the East Coast’s gasoline supply. Recent rhetoric from a member of the House Committee on Science, Space, and Technology and representative of the Second District of North Carolina would have people believe that more federal oversight is the solution.

However, the federal government lacks the foresight and innovation that the private sector possesses and is not well-suited to make significant strides in solving this potentially catastrophic issue. Additionally, addressing the problem by limiting the control of businesses cannot be the answer, either.

Ideally, the solution will come from a combination of both government resources such as public funding and widespread cooperation from the best and brightest inside the private sector. All businesses will need to develop innovative cybersecurity policies and procedures to fight this cyberwar. This will require further training in cybersecurity skills, putting the onus on the firms to invest in such professional development and resources.

The current efforts to thwart cyberattacks based on previous actions and known information are simply no longer enough. Cybercriminals are becoming more and more brazen in their approach, and even experts cannot keep up with or anticipate the subsequent attacks. As a result, the solution must be multi-faceted and not exceed the cost of cleaning up an actual breach — a delicate balancing act for business owners, IT professionals, and CEOs.

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