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In Ukraine cyberattacks on the private sector are increasing

In Ukraine cyberattacks on the private sector are increasing

Publication date:

  • 23.12.2022

Publication from:

SocialBoost & USAID

According to the State Service of Special Communication and Information Protection of Ukraine, the number of cyberattacks in the public and private sectors increases by 10-12% every quarter. This increase is partly due to the rise of almost every company’s significant use of digitalisation as a result of COVID-19 pandemic. This growing trend of cyber incidents is also happening across  the world. There were 5,000 incidents per week in February 2020, this number increased to 200,000 per week in April 2021, according to a report by the Financial Stability Board. Therefore, the topic of cybersecurity for any business is  becoming more relevant every day. 

With up to 1m cyber incidents weekly, Ukrainian companies should care about security as never before, otherwise, they risk dealing with substantial financial losses because of cyberattacks and data leaks. In addition, all the Ukrainian businesses will take financial and reputational benefits from the cybersecurity market development and the increase of cybersecurity services and products supply volumes.

Ukrainian products and service and technology companies should be the basis for building Ukraine’s cybersecurity assistance. For this purpose, 9 companies were given the opportunity to expand and transform their cybersecurity business by participating in the first acceleration program in Ukraine from SocialBoost, which is implemented within the USAID Cybersecurity Activity project. In September, participants of the first cohort successfully graduated. Now the acceleration program for the second cohort of participants, is about to start. Based on experts’ evaluation and jury’s final decision, 9 teams were selected to participate:
  1. ZeroTolerance — ZeroTolerance offers an end-to-end AML compliance system starting with legal paperwork, risk-scoring models and ending with customization of all the compliance tools and a team of certified professionals.
  2. Vadyus — A software product for effective management of indicators of compromise (IOC) and instant enrichment of cybersecurity systems with top-priority IOCs aimed for the improvement of cybersecurity incidents response.
  3. nect WORLD — a security-first modem that enables the user to work from any location via a reliable and secure connection.
  4. Global Cyber Cooperative Center (GC3) — database & predictive analytics tool for the  faster response to online fraud.
  5. Calltools — a combination of software and hardware that protects privacy during mobile phone calls.
  6. elKYC — a B2B SaaS solution that helps to gather all the information needed to identify an individual while at the same time helping acquire new customers for the business.
  7. Go Wombat — Outsourcing company providing software development services aimed to develop a cybersecurity service unit.
  8. Iriscan — a biometric security system that works with iris — the most secure biometric modality.
  9. Internet biography — a database of the primary Internet identifiers: IP addresses, numbers of autonomous systems, domain names that builds internal correlations and interconnections among various entries.
Cyberaccelerator will be a trusted partner for the companies that entered the program. The participating teams will receive mentorship from international and Ukrainian experts for three months; the possibility of expanding business in the field of cybersecurity; methodical and technical support; establishing contacts with partner corporations, leading global players and investors; PR and business communication support; access to professional funds and grants; strategic partnerships in the telecommunications, energy and financial technologies sectors in Ukraine and pilots with government agencies; additional technical opportunities provided by SocialBoost and its partners (e.g AWS). The companies that have joined the Cyberaccelerator are trying to bring the result to the Ukrainian and global cybersecurity market. Ukrainian governments, in turn, must use Ukrainian cybersecurity products and services. Demo Day of the second cohort is scheduled for March 2022.
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Address: 04071, Kyiv, str. Yaroslavska, 58 (Astarta
Organic Business Centre)

Phone:+38 099 266 39 03

E-mail:
hello@itukraine.org.ua

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