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This Ft article is a balanced summary of the challenges organisations face with cyber. Cyber attacks, specifically ransomware attacks have increased following the pandemic; cyber regulation is on its way and recent court cases have put the CISO in court leading both civil claims and criminal charges.
As digitization grows, IoT develops and cloud security remain an issue we add further complex dimensions to our cyber strategy. Our reliance on digital creates cyber challenges for the board room, members who are being held accountable by regulators. ‘New domains of security have sprung up over the past years, so it’s not just an information technology problem any more, it’s really a full company risk issue,†says Kevin Tierney, vice-president of global cyber security at automotive group General Motors. He warns that automated and connected vehicles have thrown up additional threats to be addressed’ Gerry Kennedy, threats that may not be insured?
U.S cyber regulations have defined cyber requirements that are being enforced in contracts, impacting national and international firms bidding for work. Cyber is also being tested in court with the Uber, Aerojet Rocketdyne and CHS healthcare cases setting precedence. Cyber is an expensive, time consuming and resource hungry program, that is likely to get ‘more’ regulation. Requiring a cyber strategy and program, at a time when there are fewer resources to cope, holding boards accountable for managing cyber risk.
Cyber was an issue that could be hidden away as a systems failure. It is rapidly turning into a legal and compliance risk ‘left of bang’ https://lnkd.in/ecukvdWd.
Ted Dziekanowski
#cybersecurity #cyberriskmanagement #cyberinsurance #cyberregulation #theaugustagroup
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