In our last article on Corporate Growth, Capital Style, we featured part one of a two-part interview with Natasha Barnes, a Technology Risk Services Manager at Aronson LLC, and Andres Franzetti, Chief Strategy Officer and Founding Member at Risk Cooperative. During our discussion, we talked about a new 360° Cyber Risk Survey being conducted by Aronson, Risk Cooperative and Ridge Global. We also discussed why security is no longer just an issue for the CISO, but rather an issue that every member of the C-Suite should consider.
In part two of our two-part interview, we ask Natasha and Andres about the evolving risk landscape facing enterprises, the new types of attacks that they need to prepare for, what they expect to discover in their survey results, and when those results will be released to the public.
Here is what they had to say:
Corporate Growth, Capital Style (CGCS):
Would you say that the risk landscape facing these organizations has shifted or evolved? Would you say that it’s more dangerous today than in the past? What new threats are there that enterprises need to be concerned with?
Andres Franzetti: In terms of the landscape, this is an ever-evolving threat. What cybersecurity meant yesterday is not what it means today and is not what it will mean tomorrow. The Internet of Things and the interconnectivity that we’re are seeing nowadays is opening up businesses to all sorts of new threats, constantly evolving threats. The velocity at which we are developing and storing data as well as new regulatory requirements are also compounding the need to adapt. And the bad guys don’t have to be confined to – or abide by – regulations. So the rules they play by are outside the ones that companies are playing by.
Ransomware is something that organizations certainly need to be concerned with. If you’re operating in an unsecure environment and your files are held for ransom, it can be very costly to recover them. If you don’t have the monetary resources, or a good breach response team to pay the ransoms, the right policies or insurance programs in place to mitigate that, you can be at the mercy of a hacker.