Threat Vectors
Be prepared
Sample and by no means exhaustive list of ways to find ourselves in trouble
Environment
Fire, floods, drought, pandemics are all high risk incidents that can occur at any time, a pre planned response is essential.
People
From saving your company to stealing and selling trade secrets, people are unpredictable and bring their own set of risks.
Resources
If the local water or power supply is suddenly cut off, your business continuity plan should kick in straight away.
Our friendly neighborhood hackers
Hackers will take everything and ask for money to give it back, then you get a nice big fine from the regulators. Lovely!
Hacktivists
Hacktivists tend not to cause disruption for money but rather for social justice as they see it. If your latest business deal catches their attention, watch out!
Nation States
State sponsored hacking, IP theft and even attacks on national infrastructure are becoming common place. If attention is on your industry, better to be prepared.
When Things go wrong
It is the board, directors and senior managers who will be held accountable
Pandemic
Organisations often find themselves reacting to the situation, rather than being prepared.
Covid19 is an example of this, had a pandemic disaster recovery simulations & exercises conducted as part of organisation’s BCP, business response, alternate worksite and PPE would have been prepared in advance.
However many countries and organisations were caught short, as they did not want to invest in something that was predicted but had not yet happened.
Consequentially, the cost, pain point and impact to be much higher than it needed to be for many.
General Data Protection Regulation
Board members, directors and senior management can face serious personal consequences, if the organisations they manage breach regulatory requirements.
Often involving fines, court cases and even imprisonment.
Under GDPR, a salesman has been jailed for accessing customer data, in their previous employer’s database to make sales calls.
In these situations, senior managers are often held accountable.
IT / Cybersecurity leads to Due Diligence
Good cyber-hygiene and serious security practices are crucial in protecting sensitive data, minimising asset exposure & reduction in security risks to our business partners.
Delay responding to and reporting security incident caused Equifax, One of America’s top 3 credit reporting bureaus, to pay USD $700 million to settle state and federal investigations into a 2017 data breach incident after putting more than half of all U.S. individuals, at risk for identity theft and fraud.
By not investing in risk mitigation efforts, Equifax corporate leaders have been held accountable & required to implement a new security program and submit to 20 years of regular, third-party audits. This incident has led to loss of customers, business partners trust and reputation.
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