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Nagan Research Group LLC |
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Cyber Risk – What is it? The dark side of today’s technologies Malicious entities exist that: steal information such as customer names, credit cards, and other intellectual property Harass your web presence as a form of blackmail or payback for perceived wrongs Sensitive and/or valuable information if not rigorously protected can lead to costly and embarrassing disclosures New technologies get used and implemented without full appreciation of their downside Cyber Risk – Why should you care? The following happened in 2010 (Symantec Internet Security Threat Report 2010 ) More than 3 Billion malware attacks 93% increase in web attacks from 2009 262,767 hacking attacks with an additional 68,418 from insiders And these are costly to fix The average cost of a data breach hit $7.2 million last year and cost companies $214 per compromised data record, according to the Ponemon Institute. Sony’s data breach in early 2011 is expected to cost more than $200 million and may be much more as the more than 58 class action suits wend through the courts Cyber Risk- Do you know yours? Some questions you need answers to If you have a presence on the web is it secure and monitored? Are your internal networks, sensitive and confidential data (customer, financial and product), and connected devices secure and monitored? Do you have an organization wide privacy policy that is enforced and monitored? Do you have a organization-wide policy covering records and information management compliance? How secure is your intellectual property (IP)? Are you careful about the use of others IP? Cyber Risk – What should you do? At a minimum you need: · An appreciation of all your potential cyber exposures · A strategy that implements appropriate security and privacy policies and procedures · Train and educate all parties on your security and privacy policies and procedures · Monitor, measure and communicate the status of your cyber risk management program · Review and reassess on a regular basis · A response plan for when a breach or other cyber risk occurs
Personal Cyber Risk The question is are you aware of and comfortable with your personal cyber risk exposure? Would you like to know the possible magnitude of your personal exposure? If you answered yes to either of these questions we have created a free 10 question survey that can give you a rough idea in less than three minutes. Click here to take the free survey. We are doing this because of work we just finished work on a cyber risk program that is currently being marketed through a Philadelphia law firm, Kleinbard Bell & Brecker. In the course of doing this we realized how unaware most people are of their personal cyber exposure. The graph to the left, based on survey results to date, summarizes the distribution of personal cyber risk exposure. To find out where you stand take this free survey. Beyond this we have additional offerings that can assess cyber risk exposure, both personally and in your organization, in greater depth and provide guidance on ways to address your cyber risk. We hope you will take it and gain a better understanding of your own cyber risk. |
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