Lafayette-based company aims to be at forefront of cyber security
The Department of Energy, Twitter and the Wall Street Journal have all been victims of cyber attacks.
Just this week, JP Morgan Chase became the latest major institution hit by a suspected hacker.
Cyber security threats are a serious concern because it can cost billions and lead to stolen industry secrets.
It has the attention of the president, who got a earful Wednesday from top CEOs on internet security.
Also taking notice is one Hoosier company which aims to protect businesses from cyber attacks.
It may not look like it, but Ken Gramley is right in the middle of America's debate on cyber security.
"We sell threat intelligence," he told me as he thumbed through the company website at his home in Carmel.
His company, Emerging Threats, located in Lafayette, is emerging as a player or, to be more precise, a possible answer.
"A greater urgency for companies realizing there are not only hackers but governments trying to get in and steal their information," said Gramley.
A cyber security summit with 13 CEOs in the White House situation room on Wednesday underscores the point. Honeywell CEO David Cote took part.
"This is a scary area. When I think of any particular thing I worry about the most that could cause pain, cyber security is it," Cote told CNBC after the meeting.
Eli Lilly told Eyewitness News in a statement that "it takes cyber security very seriously at all levels of our organization and throughout our worldwide locations as intellectual property is our lifeblood. We continue to monitor this important national and economic security situation with the goal of no disruptions to our business."
Enter Emerging Threats. Gramley explained what his company is able to do.
"At any given time we are monitoring anywhere around a million addresses that are doing bad things. When we see them we add them to the list and when they stop doing bad things we age them off the list. We believe we have the largest list of that information in the world," he said.
Which is why the company is now participating in 25 trials with vendors and interest being expressed by Fortune 100 and 500 companies.
Just trying to do this story gives you a better understanding at how skittish companies and government can be. For the most part, they do not want to go on record in any way for fear they might emerge as a possible target - which underscores the need for a solution.
Emerging Threats cannot trace the espionage to the source but it can put up a roadblock, and for now, that may be as much as we can hope for.
Another way companies are protecting themselves from cyber attacks and data breaches is insurance.
One broker offering it reports the number of US businesses buying cyber attack insurance jumped 33 percent last year.
Companies purchasing the coverage are buying more of it, with the average company getting nearly $17 million in cyber insurance.