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Thank you for posting @Thaddeus Dziekanowski, another retail falls victim to a cyber attack. Victoria’s Secret & Co. announced it is undergoing a cyber attack and has for the past 3 days. Taking down its website and one suspects its affected other logistical services.
Alongside the company’s bricks and mortar outlets, online accounted for $2billion in annual revenue in 2024, or 33% of global sales. Causing a fall in share price of around 7%. Investors are now starting to come to terms with cyber as a risk to shareholder value, with retail and logistics being a soft underbelly of stock markets.
Boards need to place emphasis on the management of cybersecurity risks. Demonstrating governance, oversight and assurance of their organisations cybersecurity. As companies and cyber insurers come to terms with the fact that cyber is not an economically insurable risk. They will realise that cyber requires a balanced approach to risk management. Balancing risk transfer between corporate cyber risk management, corporate self insurance and cyber insurance.
Brian D. McCarthy Faisal Khan
Veritas GRC
https://lnkd.in/eNMDf53q
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