Kildare based tech firm vCloud.ie has launched ’secure7’, a new cutting edge cyber security product, the first of its kind currently available globally. €300,000 has been invested by the Irish company in the development of the new seven layered protection system.

The announcement comes as online attacks make up almost half of the economic crimes reported by Irish businesses, far outstripping Asset Misappropriation and Accountancy Fraud.

Designed to protect operating systems and online facing services, the new product can withstand hundreds of thousands attacks per minute, far surpassing other online security systems. With one in 131 emails now containing malware, the highest level ever, all communications in-bound and out-bound are scrutinised and certified for authenticity.

With bases in Kildare, Cork, London and Poland, vCloud.ie are urging businesses to ensure secure systems are in place to protect and save operational online functions.

CEO of vCloud.ie, Richard Meehan says, “We expect the frequency and severity of cyber-breaches against companies to dramatically grow as hackers continue to become more sophisticated. Secure7 provides essential and unrivalled security against hackers.”

New analysis reveals that up to 75 per cent of all websites have unpatched vulnerabilities leaving companies open to online threats such as payment card fraud and data breaches.

Worryingly, just one third of businesses do not have any kind of response plan in place to deal with security breaches. Many Irish companies will ultimately end up fire-fighting the consequences of such attacks, the costs of which can reach €100,000 along with massive employee and customer down-time.

“Businesses of all sizes with an online presence need to start treating the threat of security breaches in the same manner as retailers treat the threat of shoplifters. We envisage secure7 as the ultimate preventative measure for companies.” Mr Meehan concludes.