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Financial effect of a Cyber Breach - What Target tells us

Learning to cope with Cyber Risk Learning from Targets experience 

In the run up to Christmas the US retailer Target (TGT) found itself victim of a data theft with some 70 million customers credit details involved and once the news was out the effect on the business was immediate. 

High profile negative media coverage on Target filled news pages just as it needed customers to open wallets and spend. 

NIST Cyber Risk Framework published

NIST launches new national Cyber Framework The Commerce Department's National Institute of Standards and Technology (NIST) have released their Framework for Improving Critical Infrastructure Cybersecurity to help organizations charged with providing the nation's financial, energy, health care and other critical systems better protect their information and physical assets from cyber attack. 

Cyber is just another RISK, but it needs better management - IRM Report

IRM - leading the risk profession - Cyber Risk ReportIRM calls for more integration of Cyber Risk Management into Business Planning 
 
The Institute of Risk Management have published guidance on Cyber Risk Management to provide more information and discuses the implications and action needed across the profession. It is complemented by a resource manual that goes into more detail and offers various tools for practitioners.  
 

Cyber Street Wise campaign targets Cyber Security

Cyber Street Wise is open for Business According to a government report released last year, 87 per cent of small firms surveyed suffered an online security breach in the previous 12 months, including data corruption and loss as well as hacking and fraud.

The financial losses associated with cyber crime are just as significant for small businesses as they are for larger ones and small businesses need to do more to protect themselves and their customers online.  
 

Are we losing the battle against cyber crime?

Cybercrime and information security

Nobody likes to lose a fight. It’s a fundamental facet of human nature that, when it comes to trading blows, we like to be top dog. Not surprising, really, if you consider that evolution has armed us with the tools to survive and winning fights would have been pretty much a prerequisite for staying alive 20,000 years ago. So when an influential group of MPs announced recently that the UK is losing the fight against cyber crime, it’s natural for hackles to rise. 

CRIF submission to BIS on Cyber Risk

Cyber Risk Call for evidenceIn March 2013, the UK Department for Business, Innovation and Skills issued a “Call for Views and Evidence”  that built on the commitments made in the 2011 Cyber Security Strategy published by government.

The Call for Evidence focused on the intention of government to encourage the adoption of industry led standards that can be used by organisations to  improve the management of cyber risk.

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