“Cyber-security is now something that we must treat in our businesses just like we watch our balance sheets,” says Tom Kennedy CEO of Raytheon Company, the keynote speaker said to other business leaders in attendance at Northeastern University’s CEO Breakfast Forum.
Customers these days focus on the comfort, ease and, capabilities provided by the cyber-world. They want the value provided by the cyber-world but don’t focus much on the cyber-security side of things. They expect the business houses to provide them protection, with them having to be least vigilant possible. They want the organisation to be fully responsible for cyber-security and also the organisations should be as vigilant as possible, but the responsibility falls on the customers as well.
Keeping a close eye on cyber-security as well as on the bottom line is important for the organisations. The threat may be exterior or interior. A hacker might be responsible for the threat or sometimes the employee of the organisation themselves can be the source.
“The sources of web-based risks include nation- states attacking governments and businesses, cybercriminals searching for and selling individuals’ personal information, “hacktivists” with political or social agendas, and companies’ own employees deliberately or accidentally activating a vulnerability,” says Kennedy.
Today we can see many examples of high profile data leaks. A good enough hacker can hack into and take control of your smart devices, including your vehicle. Every organisation must have a cyber-security procedure and must train all its employees effectively in safety procedures as well as government laws regarding the cyber domain. They should also be aware of what to do in case a breach does occur.
In today’s digital world, businesses’ entire operations are tied together in the cyber-domain. Whatever the cost, the organisations are under an obligation to protect their customers’ data. This threat cannot be taken lightly by any business house.
Anushka Singh