Technology and internet industry veterans, Peter Kazacos and Peter Coroneos, have joined forces to take aim at the cyber security market.
The two have formed a new cyber security venture called Icon Cyber, with Kazacos taking on a chairman position and Coroneos leading the charge as CEO.
The executives have grand plans for the cyber security space, with more details to be released about their joint venture in the coming weeks.
“It’s been a 20 year journey to get to this point," Coroneos said. "Along the way, it has become apparent that the problem is not really being resolved by the traditional methods around raising awareness and education.
"For along time now, I’ve been going about the fundamental objective being the behaviour of change. What we’re not seeing is an effective deployment of measures, other than simulation attacks."
Currently, there are three core programs the company is focusing on including Behavioural Training, Cyber Risk Insurance and @Stake, which provides an immersive simulation experience of a cyber attack.
“People tend to think they’re insured, but then realise, that a lot of things aren’t insurable within average insurance policies such as email phishing attacks,” Kazacos explained.
Specifically, @Stake uses ethical hackers to display how hackers enter and attack systems, and also devises how to make successful decisions to respond to attackers.
“It is essentially a very immersive simulation designed for leaders to try to immerse them into the immediacy of the situation where they may not have the full picture to begin with,” Coroneos added. “We’re applying a concept called Decision Rehearsal, where at each decision point, we’re showing the impact on their attack status.
"They can see through the evolution of successive decisions and consequences, they start to appreciate the need for certain factors to be available to them, and can fine tune their responses with an understanding of how that impacts the attack."
At a community level, the company is also focused on educating vulnerable senior citizens about cyber security and fraud risks.
“We both find it unsettling that those least able to sustain financial loss are, because of their naivety and the ever-increasing sophistication of scammers, most susceptible to it," Kazacos said. "We are committed to applying our approach to protecting those most in need."