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Cybersecurity risk management is an expensive business no matter which way you look at it. The costs of the United Health cyber attack will run in to the $billions, th recent attack on Synnovis the third party supplier to the NHS stopped operations and required blood sample to be run up to ward and the CDK cyber attack that started in June forced several listed auto distributors to file 8Ks with the SEC.
There have been several reports this week by the effect on auto distributors of the CDK cyber attack on quarter end earnings. Sounding warnings that the cyber attack effected sales.
The enclosed report demonstrates the possible impact of the CDK hack on the U.S auto industry at large. Placing the attack up there with the best in terms of financial impact. Highlighting the effect of third party cyber attacks on supply chains and in this case the effects of single point of failure and aggregation risks between OEMs, dealers and end customers.
There’s only one economic solution to cybersecurity risk management. That’s to move ‘Left of Bang’ and take a proactive approach to the management of cyber risk. It’s the same approach that is driven by cyber regulation.
Cybersecurity risk management is a ‘when’, not an ‘if’. It’s a risk that cannot be ignored by any board, the hackers will hunt down the next supply chain opportunity. As ‘sure eggs is eggs’ (if your Gen Z, go get a dictionary), the next supply chain hack is already in play.
@Thaddeus Dziekanowski Brian D. McCarthy
Veritas GRC CDK Global
#cybersecurity #cyberriskmanagement #cyberattack
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