Some of the largest tech companies around the world have been targets of hackers, terrorists, and other organizations seeking to cause harm to individuals, organisations, and countries. Microsoft, Facebook and 32 other tech companies have signed on to an agreement called Cybersecurity Tech Accord that pledges to protect their customers and will defend their customers from cybercriminal and state-sponsored attacks.
The accord is designed to protect the integrity of the 1 trillion connected devices that could be in use around the world within the next 20 years. The 34 companies that signed the accord pledged that they will improve their cyber security defences and that they “will not help governments launch cyber attacks against innocent citizens and enterprises from anywhere.” The firms also said they will empower their customers to improve their own security and will collaborate with other organisations to bolster cyber security.
Security is a major issue in the tech world. Companies know that trust in their products could evaporate if flaws are revealed so they are investing heavily in security to protect their customers with economic losses expected to reach US$8 trillion by 2022, according to Juniper Research.
The companies that signed the Cyber security Tech Accord plan to hold the first meeting during the security-focused RSA Conference taking place this week in San Francisco. Plans are to discuss future actions such as information sharing and taking on specific cyber threats.
These corporations have agreed to provide a much stronger defence against cyber attacks, not to help any governments launch attacks against innocent citizens while protecting the exploitation of the companies products and services. They want to empower users and developers to strengthen cyber security protection, and partner with industry, civil society and security researchers and other groups to enhance security while minimising potential harm online.
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