The world is on the brink of facing mega cyber attacks and the enterprises need to be prepared more than ever before, a top executive of Israel-based cybersecurity solution provider Check Point Software Technologies said in Bangkok on Tuesday.

"Large-scale and fast-moving across mobile, Cloud and on premise networks, 5th Generation cyber attacks have increased over the past year, impacting more companies than ever before," Gil Shwed, Check Point Founder and CEO, said in his keynote address during the company's annual event in Bangkok.

Cyber attacks and data fraud or theft were listed in the top five of the World Economic Forum's 14th edition of "Global Risks Report 2019".

"This is indicative of the fact that how much cyber risks have intensified, particularly in 2017 -- both in their prevalence and disruptive potential," noted Shwed.

According to him, most companies focus particularly on detecting the fraud. By the time a cyber attack is detected, which, according to the industry standard, is 5-6 months, the damage is already done.

"A good malware can breach critical data in a matter of minutes and shut down the networks in seconds. The need is to be future-ready and protect before the advent of such an event," Shwed emphasised.

Most enterprises today are generally protected for only Gen 2 and Gen 3 viruses.

"They need to close the security 'generation gap' by deploying infrastructures which combine real-time threat prevention, shared intelligence and the most-advanced security across all enterprise environments.

Shwed also unveiled "Maestro", an industry-first hyperscale network security solution.

"Maestro" is a new architecture that enables businesses of any size enjoy the power of flexible Cloud-level security platforms and seamlessly expand their existing security gateways to hyperscale capacity.

Shwed also introduced "Nano Security" -- Gen VI of cyber security which can be embedded on every device, web or Cloud service, applications and network, to protect the hyper-connected, hyperscale world.

The three-day "CPX360" event is aimed at addressing most-pressing cyber security challenges and helping organisations of all sizes develop strategies to prevent cyber threats and sophisticated hackers impacting their business.

(Rachel V. Thomas is in Bangkok at the invitation of Check Point Software Technologies. She can be contacted at Rachel.t@ians.in)