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Cyber attack damage could cost as much as Hurricane Katrina

The Telegraph

This Telegraph article examines the latest Global Risks Report from the World Economic Forum, stating that the likelihood of cyber-attack is a top 3 risk to society, with the annual cost of these attacks reaching $1 trillion in damage last year. But what can be done to reduce the risk of attack?

As there is no ability to be 100% secure, organisations must focus on gaining transparency into the actual state their Enterprise Cyber Hygiene.  They need insight as to where to place effort and resources, i.e. place their best bets, on where they can have the most impact to ensure they are as secure as possible – a clear understanding of Acceptable Risk vs working blind and hoping it’s enough.

A cyber attack against a major cloud computing firm could cause as much financial damage as Hurricane Sandy or Hurricane Katrina, the World Economic Forum and risk manager Marsh have warned.

Panaseer CEO, Nik Whitfield comments that currently, “Company’s don’t have the level of cyber hygiene they need to adequately protect themselves.”

Read this article to find out more, and watch the video to hear Nik’s commentary.

For more information on how to protect your business and the role of Enterprise Cyber Hygiene you can watch our webinar here.

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