Government organizations and private companies sharing cybersecurity tech

Anti-hacking technology developed by the U.S. will be offered to banks and other businesses under an initiative to promote cutting-edge research, even as some security specialists question its value in the private sector.

For the first time, cybersecurity technology developed at Los Alamos National Laboratory in New Mexico will be made available to private companies by the New York consulting firm Ernst & Young LLP, the two organizations announced Tuesday.

“Government organizations and private companies are all experiencing the same cyber threats,” said Siobhan MacDermott, a principal for cybersecurity at EY. “But they’re still seeking ways to work together to improve collective cybersecurity.”

The partnership comes as government and companies face increasingly sophisticated hacking attacks. The head of the National Security Agency, Navy Admiral Michael Rogers, has estimated that the U.S. loses as much as $400 billion a year through hacks that steal trade secrets.

Some security analysts, however, question how successful the model will be because technology developed over the course of years at government facilities may not be relevant or useful to current company needs. Government researchers also operate in controlled environments, whereas the networks of corporations can be messy and sprawling.

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Source: Bloomberg

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