Businesses are investing heavily in cyber security, yet many leaders still carry that nagging fear their defences will fail. Lindsay Hill, CEO at Mitigo Cybersecurity, explains why that fear is justified – and how to make sure you’re investing in the right areas to protect your firm.
Most business firm leaders I speak to know that cyber risk is the biggest “single event” risk facing their organisations. It’s the one thing that could, overnight, demolish value, destroy client trust, and halt operations.
And yet, despite the awareness, despite the spending, many still have that nagging fear: when the cyber criminals come for us, will we be protected?
Here’s the uncomfortable truth: that fear is justified.
Getting the order wrong
Organisations are being persuaded, or persuading themselves, that buying technical ‘solutions’ such as software or monitoring tools, or even cyber insurance will make them safe.
But they’re buying solutions before properly identifying the problems they need to solve. In other words, they are getting the order wrong.
It’s the equivalent of prescribing medicine before you’ve diagnosed the…
