Knights of Old, a 150-year-old UK company, is gone – due to a cyberattack! This terribly unfortunate event is a good example of how cybersecurity matters to every company that depends on digital technology - even if it is to run your books or manage your logistics. Failures in cybersecurity can cause catastrophic impacts, up to and including the total loss of a business.
The other point is that cybersecurity is not binary. It is not you have cybersecurity or you don't - but rather how good your cybersecurity capability (tools, behaviors, and processes) is in relation to the threats it is working to mitigate.
What is the right balance? Depends. It can vary greatly from one company to the next and shift dramatically over time as attackers change tactics and targets. That is why it is absolutely crucial to have an expert cybersecurity leader to comprehend the risk situation and communicate the business landscape options.
To all the CEOs, CIOs, fellow C-suites, and Boards out there, be smart when it comes to cybersecurity. It is not just a technical problem that can be solved! It is a dynamic adversarial endeavor where risk must be continually managed. Make sure you have experienced leadership to help navigate these treacherous seas!
Read more on this story: https://www.thetimes.com/uk/technology-uk/article/hackers-destroyed-my-company-by-guessing-an-employees-password-62vcbddpx
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