John Shegerian, co-founder of electronic waste recycling company ERI, recalled how the data breach of a major casino traced to a so-called “smart” fish tank.
“That’s about as non-traditional as it gets,” he said.
Data from so-called smart devices, from watches to refrigerators to cars — “which are basically now computers on wheels” — can trigger cybersecurity risks if mishandled, Shegerian said during the Preserving NY conference at the Museum of Jewish Heritage in Lower Manhattan on Wednesday, sponsored by City & State New York.
Cybersecurity risks can come from non-traditional sources as well.
Benjamin Howell
“It’s very, very serious what’s going on right now,” Shegerian said.
Such obscure threats complicate the difficulty cities, states, other municipal borrowers and even the federal government face in managing cyber risk.
The capital markets have also begun to weigh in.
“When it comes to cybersecurity, despite the availability [and use] of cyber insurance, cure, as opposed to prevention, should really no longer be an option,” Van Eck Securities Corp. said in a commentary.
“When it comes to a credit rating, those…
