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Cybersecurity

What Happened? - Cybersecurity

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Please see below selected recent external intelligence about cybersecurity. This is a synthesis of major recent developments at corporates, business schools, thinktanks, media, commentators, and other key influencers.

     

    October 2016

    Source: World Economic Forum

     

    July-August-September 2016

     

    • Cybersecurity is the number one technology issue in the C-suite and boardroom.
      Many senior executives are asking what they can be doing to stem the tide of cyber-attacks on their firms. The Economist Intelligence Unit, sponsored by Oracle, surveyed a global panel of senior executives with responsibility for cyber-security in their organisations. While virtually all of the companies reported net increases in cyber breaches, the research identified a subset that had succeeded in reducing their rate of growth by more than half over a two-year period.
    • Deloitte's ‘Changing the game on cyber risk’ claimed to offer specific strategies to address cyber risk more comprehensively.
      As the digital landscape continues to grow more complex, and cyber criminals become more sophisticated, business leaders (not just IT), across industries, are growing more anxious. They wonder how their organisation would respond in the face of a cyberattack. They question whether they’re sufficiently anticipating and preparing for a future attack. They want to know how well their organisation could absorb and recover from an attack, how well their most important digital assets are protected.
    • Deloitte also released Beneath the surface of a cyberattack: A deeper look at business impacts, a risk-based report outlining the depth and duration of cyber incidents in financial terms. Although cybersecurity is one of the most urgent issues of our time, the resulting impact of a cyber incident is still largely unproven. Recognising the need of business leaders to have clarity around the enterprise-wide effect of such events.
    • EY's Investigation and Dispute Services launched a defence and remediation tool named Radar 360 in order to defend financial loss disruption and breach of confidential data due to malware attack from cyber criminals.
    • The cybersecurity industry is in the midst of a deals boom as private equity buyers hunt for cash-generating companies and smaller start-ups get snapped up for their technology or in-demand security engineers. The total number of exits in the cyber security industry - the vast majority of which are deals - rose by a third from 2014 to 2015, according to PrivCo, the private company research firm. In the first quarter of 2016, notable deals in the industry increased by 50 per cent from eight to 12, the firm said.
    • PwC’s Game of Threats™ – an interactive cyber breach simulation for senior executives – has launched in the UK. The head-to-head digital card game pits teams of attackers against defenders and is designed to simulate the experience that leadership teams could realistically face in the midst of a cyber-attack. With nearly three quarters of CEOs regarding cybersecurity as one of the top three risks to their organisations, along with over-regulation and geopolitical uncertainty, it’s clear that increasing cyber threats and the number of recent public breaches is moving cyber security up the list of top business priorities. But if systems were breached and time was ticking, would boards and leadership teams be ready to respond?

     

    Selected further recent developments:
     

     

     

    June 2016

     

    • Although cybersecurity is one of the most urgent issues of our time, the resulting impact of a cyber incident is still largely unproven. Recognising the need of business leaders to have clarity around the enterprise-wide effect of such events, Deloitte Advisory released 'Beneath the surface of a cyberattack: A deeper look at business impacts,' a risk-based report outlining the depth and duration of cyber incidents in financial terms.

     

    • EY's Investigation and Dispute Services launched a defence and remediation tool named Radar 360 in order to defend financial loss disruption and breach of confidential data due to malware attack from cyber criminals.

     

     

    • Cybersecurity is the number one technology issue in the C-suite and boardroom. No wonder that many senior executives are asking what they can be doing to stem the tide of cyber-attacks on their firms. The Economist Intelligence Unit, sponsored by Oracle, surveyed a global panel of senior executives with responsibility for cyber-security in their organisations.  While virtually all of the companies reported net increases in cyber-breaches, the research identified a subset that had succeeded in reducing their rate of growth by more than half (from 21.1% to 9.8%, or a 53% reduction) over a two year period. 

     

     

     

     

     

     

     

     

    Cybersecurity Insights Halcyon 2 June 2016

    Please see below selected recent external intelligence about cybersecurity. This is a synthesis of major recent developments at corporates, business schools, thinktanks, media, commentators, and other key influencers in our external and internal environment.  

     

    See also: Cybersecurity: The role of the board of directors‘Cyberphobia’, by Edward Lucas - FT.com

     

     

     

    June 2016

     

     

    On Innovation in Business

    Please see below selected recent intelligence about innovation. Please contact Dominic Kelleher with any questions.  

     

    June 2015