Thanks for sharing Bryan Foss. Cyber is a dog-eat-dog world and while it remains one of the most profitable businesses, threat actors will be…

← Back to Blog

Thanks for sharing Bryan Foss. Cyber is a dog-eat-dog world and while it remains one of the most profitable businesses, threat actors will be looking to eat each others lunch.

It was reported this week that the Chairman of Marks and Spencer highlighted the poor state of UK cybersecurity and the head of the UKs National Cyber Security Centre stated that the UK has no defensive cyber strategy. So it should come as no surprise that as long as the UK fails to implement strategy and guidance for the management of cybersecurity, hackers will continue to……………..hack.

Cyber is a highly profitable business; companies poor cyber posture make cyber attacks easy; boards management of risk and risk transfer is poor; only about 45% of UK companies have cyber insurance and the coverage gap is increasing (the gap between a cyber insurance policies coverage and capital needed to restore an organisation back to its original operational state).

Until UK industry realises it holds few cards, ‘Right of Bang’, Chairs and CEOs will continue to face the reality they have little or no leverage with cyber attackers. Profit margins in the cyber industry can be as high as 90% and that is increasing as we see more Ransomware as a Service (RaaS) offering spin up.

@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan

Veritas GRC

#cybersecurity #cyberriskmanagement #cyberregulation.

View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7348974918555873280