Small business cyber is not a U.S problem, its a global problem.

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Small business cyber is not a U.S problem, its a global problem. A problem that requires a rethink of how cybersecurity oversight, assurance and remediation take place. A problem that requires a solution from governments to fix.

From our involvement in the U.S CMMC program we recognised that the DoD needs to address the small business cyber challenge and we wrote the enclosed paper outlining the problem and road map to find a solution. (https://lnkd.in/dYjWv8-5)

The DoDs cyber requirements represent a microcosm of the small business cyber problem:
1. 95% of organisations globally are SMEs and cannot afford the tools to manage cyber risk.
2. Cyber attack complexity, frequency and severity is on the rise. For example moving from IT to OT.
3. SMEs rely more on cyber insurance to transfer cyber risk, but are least likely to buy it.
4. Cyber regulations are being proposed in the U.S and EU, forcing cybersecurity across supply chains. – U.S DoD, SEC, EU NIST 2.0, DORA, EU CRA. Impacting small business.
5. SMEs don’t have the available experienced resources to focus on cyber.

Finally Gerry Kennedy the cyber insurance industry is struggling to manage the risk, rising policies, falling coverage and policy exclusions.

Ted Dziekanowski

#cybersecurity #smallbusinesscyber #cyberriskmanagement #theaugustagroup

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