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04 Dec 2022

Weekly Security Update with your Cybercrafters: Hurry, Somebody Wake-up Senior Management!

Cybercrime is rampant, nearly everyone is aware of this – so why are business leaders trying to ignore it?

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Today we learn of another Cyber Breach: Health insurer says 30,000 customers’ data potentially exposed in hack.

We see headlines similar to this one almost weekly - whether it is an organisation being hacked, or being held to ransom, a pensioner losing his retirement fund, or another person being scammed out of thousands of dollars!

It's high time senior management come out of their slumber and started to act. If you value your customers, and it is one of your values, why would you not ensure your customers data is protected? Don’t wait for the government to pass laws to force you to! Rolling out the well-worn, years passed the expiry date, overused line: “The company reiterated it took its obligations to protect customer privacy "very seriously"” is incredibly poor form!

Business leaders, it's time to lead! Look around at what’s happening in the rest of the world! Data security is a major topic. It is no longer just governments forcing businesses to take Data Security seriously, it’s their customers demanding action. Data Security concerns are driving changes in US consumer behaviour and demands, and you can bet your bottom dollar that our consumers will not be far behind!

As consumers catch on to the dangers, protection will become a major topic If you want to be relevant and compete internationally, you need to drag yourself and your organisations up to the same level as your international competitors.

Let’s not fob this issue off as an IT problem. Your IT staff have already got an incredible workload and shouldn’t have to have this added to it. This is not their problem; it is an organisational cultural issue! Cybercrime is a Risk Management issue, which needs senior leaders to drive the cultural change to start combating the Cyber Crime risks which we all face! Only once the senior leaders take charge and drive the changes, will change happen. And yes, it does mean investing money in things that will not immediately improve your bottom line.

Having a cyber resilient culture shows that you follow your business values and are committed to looking after your customers data. It’s not just a one-liner on your website, as it is in many organisations. Be ahead of your competitors, show that your organisation is committed to bringing in change. Be the change that you want, for other organisations that look after your data.

Not sure where to get started, a risk assessment would be a good starting point to understand where your organisations risks are. Get an independent assessment done and find out where your gaps are. The senior management team needs to work out what the risk appetite is based on your values and then build your resilience from there. Don’t leave it to your IT provider but talk to an independent organisation like Cybercraft to get the ball rolling.

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