Cyber crime is a growth industry where the returns are high and the risks to the perpetrator are low.
It can cause major disruption to a business, harm business reputation and customer relationships and, to stick the knife in, result in financial penalties and other costs for the victim organisation. It is just not fair! Oh, and it is not going to go away so what can you do?
City fund managers like Legal & General are calling on their portfolio companies to act: The corporate governance director at L&G, Sacha Sadan, said the fund management group was concerned that only about half of chairmen in the FTSE 350 thought their board understood the impact of lost data and information on their businesses. “Cybersecurity is a tier one threat to the UK’s national interest alongside acts of terrorism and natural hazards.” Click here for the article.
The UK Government has announced Cyber Essentials. It is free. Hooray! It is also mandatory for central government contracts advertised after 1 October 2014 that involve handling personal information.
So now you know what to do to protect yourself against the bad guys. Oh, better mention that the threat is not only from those external to your organisation but also sloppy practices. Sorry to mess your day but this is important. The headlines from a recent survey show: where personal records had been compromised, 57% were due to organisational error, while 41% involved clear acts of theft by hackers.