Irish Examiner view: Cyber threat must not be underestimated

Attack during pandemic sinister in the extreme

The HSE has said it will not pay any ransom, despite a cyber attack on Ireland's health system

In recent days, Kerry fintech company Taxamoc was acquired in a €165.5m deal by Vertex, a company based in Pennsylvania. Founded and led 10 years ago by John McCarthy, a son of Fexco founder Brian McCarthy, Taxamoc’s technology facilitates e-commerce entities that need to automate compliance and commerce across cross-border transactions from merchant to seller to payer and revenue authority.

In the very simplest terms, Taxamoc technology delivers payments securely. That monetising of reassurance is also the foundation stone, or at least one of them, for the empire being built by Patrick and John Collison from the Tipperary side of the Shannon. Stripe is valued at €95bn. Again and in very sweeping terms, Taxamoc and Stripe ride shotgun on payments that, unless protected, would be susceptible to today’s relentless cyber piracy.