In a world where digital technology and information play an increasingly important role, the management of cyber threats has become a fundamental component of doing business.
Companies are shifting from bricks to clicks and the criminals are following. Anyone who takes advantage of the opportunities these new technologies bring, and does so in the most secure way possible, has an undeniable competitive advantage.
As cybercrime is increasing in frequency, size and sophistication, it is clear that technological defences alone are no longer sufficient to protect a business from attacks. Cybercrime has evolved from being a vertically integrated, individualistic activity, to an extremely sophisticated and well-organised, distributed operation, where stolen data is traded and matched on exchanges, and highly specialised individuals are getting in on the action.
Previously copycats, or ‘script kiddies’, provided malware by way of exchanges. Today cybercrime is a big business conducted by highly skilled people with the ability and qualifications to cause significant damage.
One of the best-known incidents regarding privacy and cyber security in Belgium is the data leak at public transport company NMBS in 2012. The addresses, e-mails and phone numbers of 700,000 customers were available and unprotected on the internet for months. The incident prompted a shockwave of reactions in Belgium. In the three months after the incident, the Privacy Commission received more than 2,600 inquiries and complaints, about the same amount as the entire year of 2012. The railways immediately took action. ”Today we are a lot further,” says Chief Information Security Officer Tim Groenwals. ”There is a strategy and an awareness right up to the highest level that cyber security has to be a priority.”
Strategy and awareness right up to the highest level
“Cyber-threat is becoming increasingly complex. The attacks are getting more sophisticated and more technical.”
Client perspective on cyber
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