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Cyber Risk – What can you do…?

Cyber Risk – What can you do…?. Chris Clark Managing Director, Prosperity 24.7. What is Cyber Risk…?. The internet provides a largely anonymous and cost-effective method for those involved in organized crime , economic espionage, and other adversaries, to damage or embarrass companies.

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Cyber Risk – What can you do…?

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  1. Cyber Risk – What can you do…? Chris Clark Managing Director, Prosperity 24.7

  2. What is Cyber Risk…? The internet provides a largely anonymous and cost-effective method for those involved in organized crime, economic espionage, and other adversaries, to damage or embarrass companies. Those engaged in cyber attacks aim to secure economic advantage by stealing financial assets, intellectual property or critical information. This can be from a single serious event or a sustained attack over a period of time, sometimes years. The impact on a company as a result of being targeted in a cyber attack, including the impact on its reputation, can be catastrophic. Prosperity 24.7 – Commercial in confidence

  3. What is Cyber Risk…? Managing cyber risk is a business-critical activity, and cannot be regarded as simply an IT issue. Cyber risk is different from other types of risk because of the rapid evolution of technology and the resulting fundamental changes in the way business is conducted. Boards will need to think differently and consider taking wider advice, to ensure they fully understand the issues faced by their company in order to manage the risks appropriately. Source: ICSA - https://www.icsa.org.uk/assets/files/Guidance%20notes/gn06-2013cyberrisk.pdf Prosperity 24.7 – Commercial in confidence

  4. Key cyber adversaries include: • organisedcrime by cyber criminals engaged in fraud or obtaining money or valuable information; • employeeswho can cause damage by accident, or by deliberate and malicious misuse; • competitorsor foreign intelligence services that are interested in gaining economic advantage for their own companies or countries; • computer hackers who enjoy the challenge of this activity; and • hacker activists (‘hacktivists’) who wish to attack companies for political or ideological motives. E.g. ‘Anonymous’ and their recent letter to the JFSC Prosperity 24.7 – Commercial in confidence

  5. The world of work is changing.

  6. Technology Megatrends Businesses want to leverage technology to innovate / gain advantage Big data Mobility Social Cloud • 70% of Global organisations are either using or investigating cloud computing solutions • World’s information is doubling every two years; • 48 hours of youtube every minute 44% of complaints are through social media 90%companies using social technologies that report business benefit from them Always on -- Consumers use an average of 4 devicesevery day

  7. Great! In light of Cyber Security threats how do we balance the opportunity for innovation (reward) versus the reality (risk)

  8. Local Economic environment Let’s be realistic for a moment, the last few years have not been easy… Europe saddled with debt UK recession predicted Ripples from the downturn in Global economy could impact us If only we had a crystal ball Prosperity 24.7 – Commercial in confidence

  9. Local Economic environment 2013 was only better in Q4… Europe saddled with debt UK Triple Dip recession concerns Ripples from the downturn in Global economy did impact us Prosperity 24.7 – Commercial in confidence

  10. A year of opportunity and continued growth…? Prosperity 24.7 – Commercial in confidence

  11. Why am I talking about the economy at a Cyber presentation?

  12. Exhibit 1… ACTION – When you leave here, go and check who is responsible for your network perimeter and ask them if everything is patched up to date. If not, contact Mark and ask about JT managing your devices. Prosperity 24.7 – Commercial in confidence

  13. Exhibit 2… ACTION – When you leave here, ask your IT suppliers how they have ‘hardened’ your network perimeter. Do they use remote access to provide support? What controls are in place to ensure rigour and YOUR security over THEIR ease of access to YOUR DATA. Prosperity 24.7 – Commercial in confidence

  14. What can you do?

  15. Paul Dutot Call : +44 (0)7797 741 1392Email : enquiries@cyberkryption.com And finally… Prosperity 24.7 – Commercial in confidence

  16. Thank you Chris Clark chris.clark@prosperity247.com www.prosperity247.com @nomanualreqd +44 (0) 7797 736076 / +44 (0) 1534 877247

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