Our Counsel, My-Hué Tan, who leads our practices of Risk Management and Compliance, and the General Counsel Desk, joined Control Risks’ cyber and digital forensics experts Jay Perera and Luke Fardell. In this article, we share a few insights from her presentation.
An enterprise-wide risk
In the hyper-connected operating environment in which organisations are evolving nowadays, cyber incidents are causing business disruption, financial and reputational damages. Organisations may be exposed to financial risks such as ransomware and the costs of the forensic investigations.
“This hyperconnectivity create interdependencies between critical systems which bring the issue of cyber-threats to a whole new level of complexity and can turn it into an exponential risk as it may accelerate the spread of a malware/attack to different parts of the organisation.”
My-Hué noted that this potential domino effect calls all of us to switch gears and to move to an enterprise-wide risk based thinking. She outlined the importance of the organisational culture and cross-functional collaboration in doing so, and shared the five core principles that can help create a strong cybersecurity culture and governance.