VANCOUVER (NEWS 1130) – Whether we’re talking big corporations or even government, it seems no website is safe from hackers these days.
But UBC experts are hoping to fully take advantage of a big donation from a major bank and make things a little safer for everybody online.
When you tally up all the data theft suffered by major corporations worldwide, the costs of breaches end up costing billions of dollars.
In a bid to combat this on some level, Scotiabank is giving UBC $2-million to look into cyber security solutions for financial risk research.
“I think it’s an arms race,” says associate professor Hasan Cavusoglu with the school’s management information systems division. “We will get better at it, in terms of defense, hackers will get better in terms of finding exploitations and vulnerabilities.”
In part, the donation will support the Creative Destruction Lab West (CDL West) at the UBC Sauder School of Business over the next half decade.
“We have a very strong group in computer science, we have a very strong MIS faculty here at Sauder School of Business,” says Cavusoglu. “Combining the different talents and expertise to tackle this multifaceted problem make UBC a good place to solve this problem.”