Cyber Security Governance: Latest Trends, Threats and Risks: MARCH 2018

Hackers, scammers, fraudsters and ‘insiders’ have one thing in common: they’re all a danger to your business. Some are cyber criminals; others are old fashioned financial criminals. But they all want to disrupt your business and defraud you of your money. When it comes to dealing with data breaches, there is no one-size-fits-all guide. So preparing for the inevitable breach is worth the priority, time, effort, and expense, given the potential financial impact of lost data, litigation, damage to brand and reputation.

Surprising no one, 2017 marked another ‘worst year ever’ for data breaches and cyber-incidents, with the threat this year of cyberattacks accelerating in frequency and complexity. It is therefore essential that market firms (irrespective of size) have the capacity to protect themselves from security breaches and their catastrophic consequences. “In 2018 we’re going to realise that every business role will have cyber security responsibilities, and every employee will be expected to protect and defend their company’s data”. Says Lawrence Pingree, Research Director at Gartner, “because most data breaches are based on exploiting common user knowledge gaps to social engineer them to install malware or give away their credentials.”