Next-gen cybersecurity leader Palo Alto Networks Inc. (PANW) signed a Memorandum of Collaboration on Tuesday with the Cyber Security Agency of Singapore (CPA) at the inaugural Singapore International Cyber Week 2016 (SICW), reports PRNewswire. The main events of the SICW circle around the cyber conference and exhibition taking place this week.
The announced partnership between a big name cybersecurity player and a national government shouldn’t come as a surprise given recent headlines indicating a rise in cybercrime, particularly aimed at and waged by governments. (See also: On Guard: Cybersecurity Roundup.)
New Collaboration for Cybersecurity Education
The new alliance between Palo Alto and the Singapore government is intended to allow for the exchange of ideas, insights and expertise on cybersecurity. This collaboration will include the sharing of threat intelligence, industry education and national capability building.
Singapore hopes Palo Alto’s commitment will help develop education resources in order to spread awareness on cybersecurity and beef up Singapore’s national cyberdefense.
Threats Continue to Expand
In late September, Palo Alto also shook hands with Singapore Telecommunications Ltd. (Singtel), aimed to help organization prevent cyber breaches in Asia Pacific with a new managed security service.
The Singapore-Palo Alto collaboration closely follows a release by cybersecurity pioneer Symantec Corp. (SYMC), which provided information on a hacker organization said to be targeting global financial clients through the banking messaging platform SWIFT. The U.S. government has officially blamed Russian hackers for a series of high-profile cyber attacks, while North Korea was apparently behind the massive Sony cyber attack in 2014.
As worldwide cyber threat heats up, market players such as Symantec, Palo Alto Networks, Fortinet Inc. (FTNT) and other security providers are in prime position to score a wave of new deals with clients from government bodies, to Fortune 500s, small businesses, financial institutions and healthcare organizations. (See also: Symantec Finds New Attacks on SWIFT Users.)