Changes in the world’s geopolitical and security environment over the past two years present a clear sign that global businesses cannot afford to ignore physical security threats – despite much of recent risk management focus being centred on cyber vulnerabilities, according to Nick Doyle, managing director at risk and financial advisory Kroll.
Doyle, who is also Kroll’s head of Europe, Middle East and Africa and Asia Pacific enterprise security risk management practice, was addressing delegates at the Federation of European Risk Management Associations’ (Ferma) Forum 2024 event, held in Madrid between 20 and 22 October 2024.
He said: “Businesses and their financial success have a significant effect in their local communities and, in many cases, their national economies.
“We have seen with the issue around access to the Suez Canal due [to] ongoing attacks in shipping and the restrictions placed on the Panama Canal due to a lack of water that the supply chain can be dramatically and significantly affected, which can cause issues for businesses of all sizes.”
Doyle added that companies needed to focus on greater resilience – and this does not solely mean…
