1K Businesses Adopt IBM Cloud-Based Threat Intell Exchange Network; Brendan Hannigan Comments

At least 1,000 enterprises in many sectors have started to access IBM’s threat intelligence database through a cloud-based network to facilitate information sharing and industry collaboration in an effort to address cyber attacks.

The company said Thursday the IBM X-Force Exchange platform, launched in April, is designed to provide users access to a 700-terabyte repository that contains information on vulnerabilities, phishing attacks, spam, malware and questionable IP addresses and allow them to validate data with analysts and peers through the network’s social interface tool.

“Cybercrime has become the equivalent of a pandemic — no company or country can battle it alone,” said Brendan Hannigan, general manager of IBM’s security unit.

“With X-Force Exchange, IBM has opened access to our extensive threat data to advance collaboration and help public and private enterprises safeguard themselves.”

Five of the top 10 financial institutions and six of the top 10 retail firms in the world have begun sending data inquiries to the cloud-based platform, the company reported.

“Sharing threat information via IBM’s X-Force Exchange initiative is a big step toward better understanding potential attacks and anticipating measures to mitigate them,” said Rob Bening, chief information security officer at ING Bank.