Zak Garner-Purkis says….security breaches DO have a major effect
On Monday, a Federal Court in the US ruled that companies who fail to provide customers with reasonable protections against the theft of online data could be sued by federal consumer protection enforcers. It means for US businesses the effect of a hack won’t be restricted to bad publicity, it could affect them on a legal and financial level. This type of ruling will only become more frequent with every new security breach.
Authorities around the world are all upping the ante when it comes to cyber security. Outside America the EU puts cyber security at the heart of its Digital Agenda. Whilst Britain now has a minister for cyber security former Google, Facebook and Aol employee; Baroness Shields.
With every new attack the pressure on businesses to improve their security increases. Not just from their customers and the general public, but also from regulators who are now refusing to accept answers that aren’t up to scratch from these businesses
You can guarantee that security will have been a topic for discussion at company board rooms in recent weeks. Any senior executive with access to the news would have been all too aware of the way in which the infidelity based dating website Ashley Maddison has been almost completely obliterated by the information it had. Admittedly, this was a pretty unique case as the website occupied very controversial moral territory. But the impact of security breaches was clear to see.
The extent to which social media compounds a negative media reaction would also have been clear to decision makers following Carphone Warehouse’s payment data breach. Irate victims took to social media to lambast the company giving the retailer few places to hide.
Companies already spend huge sums on protecting their data and many of them will have been checking to see whether this will ensure that they are comprehensively protected. Those who haven’t invested in this area will surely be examining whether they need to.
WHAT DO YOU THINK?
Kezia Joseph says….security breaches DO NOT have a major effect
The problem with cyber security is that companies don’t seem to care enough about it. The Ashley Madison and Carphone Warehouse hacks were shocking to a lot of people, but was it enough to kick start a wave of change? Unlikely. Historically breaches haven’t had any major impacts, so there’s no reason to suggest things will be any different.
The ironic thing about security is that many companies know the risks, they are aware of the attacks and, according to Azzurri Comms, know how to secure against breaches. However, many are guilty of the ‘it won’t happen to me’ approach, and because of this many security breaches appear to have an initial impact before it is forgotten about. It seems that history seems constantly set to repeat itself.
The issue may come down to responsibility, who does security start with? Some believe it starts with the company in question, while others think it falls onto the user. However, unless you’re the CEO of a company, you may think that a security breach is someone else’s problem and the lines become blurred.
If cyber-attacks were affecting the industry, it would be a much tougher industry to attack because education and investment would be an automatic by-product of any breach. Businesses would learn and adapt alongside the hackers themselves, with awareness stretching from the shop floor to the boardroom.
The good news is that type of change is currently executed across many companies, but as Azzurri Comms have said ‘some companies are brilliant at enforcing mobile security, but others just don’t want to do the work’.