As we try to learn from the events of 2017 and make our business plans for 2018, it is apparent that managing “cyber risk” — the risk that your enterprise will be impacted by a data breach — has become an imperative for many.
There is good reason for that. Many have noted that 2017 marked a turning point in social attitudes around cyber breaches. Rather than seeing data breach as the unavoidable consequence of modern life, petty crimes perpetrated by petty criminals (a fat kid on a laptop in his bedroom), we now focus on the conduct of the entity whose data was hacked, and as consumers we react and punish those businesses that failed to prevent, mitigate or timely report their breaches.
Equifax, Uber, Yahoo are just three, among many examples of companies criticized in these areas in the last year. Many more small, medium and large enterprises were negatively impacted by data breaches.
Indeed, there are few enterprise risks more harmful than unmanaged cyber risk. While the financial impacts of data breaches can be substantial, the greatest, potentially existential, threat from cyber risk is the impact of an unmitigated data breach on your company’s…
