Cyber Risk – An Issue Never Completely In Hand

By Sheila Pancholi, Partner - RSM UK
 
Cyber risk is one of those elusive business issues that is always moving, changing and challenging organisations. The pace of change and sophistication of attacks means that business leaders have to be informed and ready to act if something does go wrong, but there is plenty that can be done ahead of time to mitigate and control some of the risks posed in today’s technology-centric working environment.
 
So why is the risk of cybercrime increasing?
There are four significant factors that are directly increasing the likelihood of businesses being impacted by cyber criminals:
1. Increasing reliance on technology and rate of interconnectivity;
2. Uncertainty – criminals will try to capitalise on confusion, vulnerabilities and exposed networks;
3. A lack of technical skill and knowledge at Board or senior management level to determine the level of risk posed to the organisation; and
4. Increasingly remote workforces.
Whilst organisations on ...