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Making best-in-class security ubiquitous - Why security is no longer just an IT issue.
The document discusses the increasing prominence of cyber security as a critical business risk, with rising costs associated with data breaches. It emphasizes the need for organizations to embed security practices at the leadership level, fostering a culture of collaboration for effective risk management. Key statistics highlight consumer concerns over security and the financial implications of breaches on businesses.
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Making best-in-class security ubiquitous - Why security is no longer just an IT issue.
- 1. DigitalDialogue Making best-in-class securityubiquitous Why security is not an IT Issue @Graemewpark Global Head of Security Operations at a major Ecommerce Retailer
- 2. BioSecurity IoT Massive GrowthComing Enterprises embracing Big Data and Cloud Computing rapidly Smart Industries: Industrial 4.0 Transformation Impending AI, ML and Robotics for customer interactions Top Industry 4.0 Trends impacting Cyber Security
- 3. Graeme Cantu-Park Author | Speaker| Advisor| @Graemewpark · Global Head of Security Operations · Trusted security advisor FS & Public Sector · Former UK Special Forces and Cyber Operations · Head of IT Security for FinTech Startup · 10+ years of industry experience & ClubCISO Member
- 4. The Rise ofCyber As A Business Risk
- 5. The likelihood ofcyber attacks has been growing and is now a top concern for senior executives Source: World Economic Forum 2009–2019, Global Risks Report
- 6. Data breaches caused byweak security and cover-ups have costed companies over $1.45 billion and counting
- 7. Source: The PonemonInstitute Research, 2019 The average cost of a data breach Global Averages Average total cost of a data breach Average size of a data breach Cost per lost record Time to identify and contain a breach Highest country average cost of $8.19 million United States Highest industry average cost of $6.45 million Healthcare 3.92M 25,575 records 279 days United Kingdom Averages Average total cost of a data breach Average size of a data breach Cost per lost record Time to identify and contain a breach Country rank for total cost 6 Highest industry average for cost per record Services 3.88M 23,636 records 243 days$150 $155
- 8. Breach costs canbe felt for years to come Source: The Ponemon Institute Research, 2019
- 9. 85%of consumers willnot do business with a company if they have concerns about their security practices Source: PwC US Protect.me survey 2017 The Business Value of Trust 60%are willing to pay a premium for better secured personal data
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- 11. Source: (ISC)², Inc Reportto the CEO Report to the CIO 43% 35% 14% 7% Report to others including the COO and CFO Report to the Board of Directors 86% Have CISO 14% No CISO CISO Reporting Structure Successful organizations overwhelmingly report that they employ a CISO, and in many cases that person reports directly to either the ceo or the Board of Directors Source: ISC - https://blog.isc2.org/isc2_blog/2018/10/why-the-ciso-matters.html
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- 13. Make it thenew normal deeply ingrained in the thinking
- 14. Leadership “4.0” needsa bold mindset shift as security is now an organizational challenge! PEOPLE REPUTATION FINANCIAL GROWTH
- 15. 1 Develop a securityculture driving change from the top
- 16. 2 Adopt cyber security asa board level responsibility
- 17. 3 Codify the languagein non technical terms
- 18. 4 Engage with keystakeholders beforehand and encourage discussion
- 19. 5 Focus on yourbusiness-critical activities, the risks to them and to systems supporting those activities
- 20. “Approaching cyber securityas a business risk cannot be done alone, it is a collaborative effort that requires input of the entire organisation” GRAEME CANTU-PARK
- 21. Graeme Cantu-Park Global Headof Security Operations at a major Ecommerce Retailer Thank you