Are you Aware your Contractors Could be a Hackers way in?

//Are you Aware your Contractors Could be a Hackers way in?

Are you Aware your Contractors Could be a Hackers way in?

In July, the UK government called upon all FTSE 350 firms to take part in a full cyber governance health check after an investigation revealed that cyber leaks at FTSE 350 firm are putting the UK’s economic growth and national security at risk. The health checks are designed to ensure cyber awareness starts from the Board and flows down through the organisation.

The health check has been broken down into two phases: the first phase focused on assessing the level of Cyber Security awareness and preparedness across the FTSE 350 and this completed with results out this week. The second phase is the ‘Diagnostic’, which uses an audit-based tool that builds on the results from the first phase.

The outcome of the first phase shows significant weakness in the organisational risk management measures to address Cyber Security threats.

For an effective Cyber Security campaign to work, organisations need to take a holistic approach so that they can ensure everyone within the organisation is singing from the same hymn sheet. This clearly isn’t the case with 75% of the UK FTSE 350 Board members lacking any Cyber Security or Information Security training. Less than half of the FTSE 350 chairs understand the impact of information/data loss to their businesses and over half rarely review the key information held by the business. This is particularly worrying given the loss of business critical information can affect a business’ ability to maintain their competitive edge.A quarter of boards have a poor understanding of how their company shares information with third parties. A vast amount of information is lost or stolen as a result of poor information sharing practices. It is essential that all board members understand and communicate the information sharing processes throughout the business to ensure the integrity of information shared with third parties.

A quarter of boards have a poor understanding of how their company shares information with third parties. A vast amount of information is lost or stolen as a result of poor information sharing practices. It is essential that all board members understand and communicate the information sharing processes throughout the business to ensure the integrity of information shared with third parties.

Only 19% of Boards receive intelligence on Cyber Threats. The Threat is rapidly evolving and growing; in order to mitigate Cyber risk, Boards need to ensure they are receiving regular updates and disseminate these down to the office floor.

Nearly half (46%) of Board respondents regarded Cyber Risk as having limited importance. Not monitoring cyber risks effectively could lead to huge losses of information and an organisation’s IP, harming both the business reputation and ultimately the balance sheet.

Templar Executives offer bespoke Cyber Security training sessions for Board members. Check out our Cyber Academy page for more information: http://www.templarexecs.com/academy.html

2017-02-02T18:11:01+00:00 By |0 Comments