Cyber Security: Just How Worried Should We Be?

This was the question raised by Marcus Madelung, Sales Director EMEA, Telstra to fellow panelists at the ABIE-Clifford Chance joint seminar on cyber security on 6th November. It seems that some industries are better prepared than others and that the on-line world is less equipped to protect against attack than the physical world that we live in. Telstra research in Australia showed that on average there is only one security analyst to every 500 employees. Companies are increasingly recognising that this is a question for their management at board level. The need to protect your business data and create customer confidence is key to the development of a business. For most of us it is not a question of ‘if’ but ‘when’.

 

Cyber Security: how safe is your business data?’

Over 100 guests registered for ABIE-Clifford Chance joint seminar on cyber security with experts in this field from Clifford Chance,Google, Thales, Gemalto and Telstra. It seems that some industries are better prepared than others and that the on-line world is less equipped to protect against attack than the physical world that we live in. Traditionally security in companies has been seen as a cost and primarily the responsibility of the IT department. Telstra research in Australia showed that on average there is only one security analyst to every 500 employees.

Companies are increasingly recognising that this is a question for their management at board level. The need to protect sensitive data and create customer confidence is key to business development and this requires a total company strategy to create awareness and prepare for crisis management. Security measures in companies can actually reduce long term costs and be attractive to new customers. At Google, 400 people are working on security full-time to protect the data of users. The team works to identify threats and create new tools that end-users can use to help protect themselves.

Whether a company or individual, we all need to ask ‘What is most valuable to me’ and take measures to mitigate the risk. Sue Humphreys, a London based compliance expert, said ‘’ for most of us it is not a question of ‘if’ but when’’.  She explained how for example your photo from LinkedIn can be used in an internet search which will lead attackers to find personal data that they can then use with criminal intent.

Many of us use the same password for different accounts making it easier for a hacker. Benoit Tabaka, Google France said that there are solutions offered by some providers such as second step authentication, pass keys and biometrics. The phasing out of old technology also bodes well for the future.

If you would like to read more on this subject, please follow the link to an article by Angelique Lu, World Association of Newspapers and News Publishers who attended this event.

http://blog.wan-ifra.org/2014/11/10/digital-security-and-source-protection-how-secure-is-the-cloud