Cyber attacks are now one of the greatest threats to businesses worldwide. A study conducted by management consulting firm McKinsey, confirms this as the single greatest risk, as per most corporate board members. Board members want greater structural organization to their teams. They bemoan the lack of clarity. Another of their complaints is the challenge in data warehousing, thanks to the lack of real- time data available. Thus, a holistic strategy needs to be devised across the industry. This must involve the people, assets, applications, infrastructure, governance, processes, organization, controls and all third parties involved. To weed out such cyber risks from their roots, one needs to start by identifying the risks, and also by gauging the risk appetite. Its consistent analysis and monitoring is then needed. Silos too need to be cut down so that the relevant information may be shared between teams. Blind activism has to be avoided, as it helps no one.

Source:https://www.mckinsey.com/business-functions/risk/our-insights/cyber-risk-measurement-and-the-holistic-cybersecurity-approach

Uploaded Date:08 June 2019