Cyber Security, IP Theft, and Data Breaches
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This document summarizes a webcast on protecting corporate assets from cyber threats. It discusses common cyber threats like IP theft, data breaches, and how threat actors like nation states, malicious insiders, and competitors can exploit vulnerabilities. It then provides a 5-step framework organizations can use to assess trade secrets, identify threats, measure the impact of a loss, improve security practices, and measure effectiveness of improvements. The webcast aims to help organizations understand security risks and guide investments to best protect their most valuable information assets.
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Cyber Security, IP Theft, and Data Breaches
- 1. GOOD. SMART. BUSINESS. PROFIT. TM
- 2. Cyber-Security, IP Theft and Data Breaches: Practical Steps to Protect Corporate Assets October 30, 2014
- 3. Chelsie Chmela Events Manager chelsie.chmela@ethisphere.com 847.293.8806 We encourage you to engage during the Q&A portion of today’s webcast by using the chat function located within your viewing experience. HOST QUESTIONS RECORDING The event recording and PowerPoint presentation will be provided post event. 3
- 4. 4 SPEAKING TODAY Pamela Passman President & CEO, CREATe.org Marissa O. Michel Strategic Threat Management, PwC Forensics
- 5. Marissa O. Michel Strategic Threat Management, PwC Forensics Pamela Passman President & CEO, CREATe.org
- 6. Pamela Passman President & CEO Center for Responsible Enterprise and Trade CREATe.org Marissa Michel Director, Forensic Services Group, Strategic Threat Management Services PriceWaterhouseCoopers (PwC)
- 7. U.S. hacking victims fell prey to mundane ruses -May 20, 2014 U.S. announces first charges against foreign country in connection with cyberspying - May 19, 2014 U.S. announces first charges against foreign country in connection with cyberspying - May 19, 2014 Trade secrets bill clears a hurdle -September 17, 2014
- 8. • • •
- 9. On the rise: • Malicious code and sustained probes have increased the most: average of 17 malicious codes/month, 12 probes/month, 10 unauthorized access incidents Uncertainty about steps to take: • 50% low/no confidence they are making the right investments in people, process and technologies to address threats Greatest threat: • The human factor (negligence) and system glitches (IT and business process failures) still account for almost two-thirds of data breaches
- 12. Threat Actor Objectives Methods Vulnerabilities Risks / Outcomes Nation States Military technology, help national companies Blunt force hacking Social Engineering Trojan Horse Spear phishing Watering Hole Exploits Malware Co-opted Credentials Physical/Non- technical Processes People Technology IP Theft Data Breaches Disrupted Business Reputational issues Lost revenues Lawsuits Fines Malicious Insiders Competitive advantage, financial gain, national goals Competitors Competitive advantage Transnati’l Organized Crime Financial gain Hacktivists Political/social goals Source: CREATe.org – PwC Report: Economic Impact of Trade Secret Theft: A framework for companies to safeguard trade secrets and mitigate potential thefts, February 2014
- 14. Impact Motivation Access Connections Red Flags Most common source of IP theft; Differs from unintentional or uninformed insiders Typically disgruntlement or ego, ideology, competition, or personal financial gain Insider authorization to systems, records, source code, and even facilities = opportunity to exploit access for malicious purposes Can be leveraged or planted by Advanced Persistent Threats to exploit access to critical assets Activity changes w/business change: mergers, divestitures and legal entity separations, and within 2 weeks before and after employment separation (voluntarily or involuntarily)
- 15. • The economic impact • An analysis of key threat actors • Three future scenarios • A five-step framework
- 16. Consensus across business units over definitions and criteria for determining IP that is a trade secret Prioritized, ranked list of trade secrets with location maps around the world A clear repeatable process for incorporating new innovations and trade secrets into the existing trade secrets list Proven formula for assessing the cost of trade secret theft at the individual level Means to determine how to maximize the value of protective measures to ensure the greatest return on security investment
- 17. Category of Trade Secrets • Product Information • Research & Development • Critical & Unique Business Processes • Sensitive Business Information • IT Systems & Applications
- 18. Threat Actors: • Nation States • Malicious Insiders • Competitors • Transnational Organized Crime • Hacktivists
- 19. How would the trade secret loss impact… •Reputation? •Business operations? •Corporate culture? •Competitive advantage? •Current or future revenue?
- 20. Impact of trade secret theft in dollar terms: • Financial performance • Customer trust/loyalty • Innovation • Stakeholder perception
- 28. WHY SHOULD YOU APPLY? • Learn your scores – your Ethics QuotientTM • Compare your practices to those of the Worl’s Most Ethical Companies • Understand the gaps in your program, activities and practices vs. leading companies • Use this knowledge to guide and shape investments in program and resources • Engage the entire organization and ecosystem
- 29. This webcast and all future Ethisphere webcasts are available complimentary and on demand for BELA members. BELA members are also offered complimentary registration to Ethisphere’s Global Ethics Summit and other Summits around the world. For more information on BELA contact: Laara van Loben Sels Senior Director, Engagement Services laara.vanlobensels@ethisphere.com 480.397.2663 Business Ethics Leadership Alliance (BELA)
- 30. THANK YOU