A simple fact of modern business is that
data is everywhere and of all information
created today, 98 per cent is stored electronically.
This increase in electronically
stored information has brought business advantages
and ease-of-access, but with it comes a growing
threat of data breaches and cybersecurity violations
through attacks on information technology systems.
According to a PwC survey, the global cost of these
breaches was an estimated USD$23 billion in 2014.
Apart from the challenges this poses from a public
relations perspective, the legal fallout is often
much more important and potentially devastating
to the companies involved. The disclosure of
legal words
confidential information about the company and
that of its employees and clients, breaches of privacy
and infringement of intellectual property rights can
have dire consequences. It is clear that cybersecurity
has become a growing concern for both public and
private sector organizations.
LEARN FROM THE MISTAKES OF OTHERS
In one of the most eye-catching cases of breaches
of cybersecurity of 2014, Sony Corporation became
the victim of a crippling cyber-attack, making
supposedly secure and confidential information
publicly available. Private employee information,
such as pay slips and social security numbers, and
J. Simunek/Shutterstock
Identifying Cyber Risks
CYBERSECURITY IS A GROWING CONCERN FOR ALL ORGANIZATIONS
By Justine Laurier
WHILE IT’S THE HACKING OF LARGE
COMPANIES THAT MAKE THE
HEADLINES, IN REALITY IT’S SMALL
AND MEDIUM ENTERPRISES THAT ARE
MOST VULNERABLE AND MOST OFTEN
FALL VICTIM TO CYBER-ATTACKS.
HRPATODAY.CA ❚ MAY/JUNE 2015 ❚ 13