Cyber Defense eMagazine March Edition for 2022
The view from the Publisher’s desk is very encouraging, based on celebrating 10 years of growth and success at Cyber Defense Magazine! When our tiny team began our journey at Cyber Defense Media Group (CDMG) together in January 2012, we were happy to help smaller, lesser-known innovators of infosec, get their message out there and Rise Above the noise. Now, after 10 years, we’re even helping multi-billion-dollar companies and governments around the globe with our offices in DC, London, FL, NY and other locations in play, as we continue to scale, thanks to you – our readers, listeners, viewers and media partners. Beyond the magazine, in response to the demands of our markets, the scope of CDMG’s activities has grown into many media endeavors. They now include Cyber Defense Awards; Cyber Defense Conferences; Cyber Defense Professionals (job postings site being revamped); Cyber Defense TV, Radio, and Webinars; and Cyber Defense Ventures (partnering with investors). Please check them out and see how much more CDMG has to offer! Very respectfully and with much appreciation, Gary Miliefsky, Publisher
The view from the Publisher’s desk is very encouraging, based on celebrating 10 years of growth and success at Cyber Defense Magazine! When our tiny team began our journey at Cyber Defense Media Group (CDMG) together in January 2012, we were happy to help smaller, lesser-known innovators of infosec, get their message out there and Rise Above the noise. Now, after 10 years, we’re even helping multi-billion-dollar companies and governments around the globe with our offices in DC, London, FL, NY and other locations in play, as we continue to scale, thanks to you – our readers, listeners, viewers and media partners. Beyond the magazine, in response to the demands of our markets, the scope of CDMG’s activities has grown into many media endeavors. They now include Cyber Defense Awards; Cyber Defense Conferences; Cyber Defense Professionals (job postings site being revamped); Cyber Defense TV, Radio, and Webinars; and Cyber Defense Ventures (partnering with investors).
Please check them out and see how much more CDMG has to offer!
Very respectfully and with much appreciation,
Gary Miliefsky, Publisher
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Make clear the opportunity cost<br />
There is, of course, a cost to cyber security systems, but the cost to not having them is far larger. The<br />
average cost of an attack has been rising rapidly and now stands at $3.9 million, according to the annual<br />
Cost of a Data Breach Report by IBM and the Ponemon Institute, although this rises to $8.64 million in<br />
the US. This includes costs of OT systems and hardware, disruptions to critical activity resulting in down<br />
time and business lost, and fines. When put in this context, the investment in cyber security will seem<br />
minimal. Businesses that rely on insurance as mitigation may feel that they are covering the financial<br />
cost, but this does not take into account the cost of reputational damage, which can far exceed any<br />
monetary loss. Further, the insurance market is taking a tougher stance due to the rising frequency and<br />
scale of cyber-attacks. This makes it a multi-faceted challenge <strong>for</strong> finance leaders.<br />
Think about long term sustainability<br />
<strong>Cyber</strong>-resilience is about ensuring the continued success of an organization. Business continuity,<br />
reputation and finance are all at stake, but also the potential <strong>for</strong> injury and even loss of life. Imagine how<br />
much money would be lost if you were unable to service clients, and the reputational damage of a splash<br />
across the headlines. To continually win new business you need to be able to show you are diligent and<br />
trustworthy, and cyber security plays a big role in this. Data security is increasingly important, and<br />
customers will not want to do business with you if their own in<strong>for</strong>mation is seen to be at risk. Similarly,<br />
vendors will harbor concerns about stability and ultimately shareholders will become worried about<br />
per<strong>for</strong>mance.<br />
See cybersecurity not as an IT overhead but an OT asset<br />
<strong>Cyber</strong> security is not just a tick box or policy adherence exercise, but brings huge value. It’s about more<br />
than systems and software of IT – it’s essential <strong>for</strong> full and essential OT. The CFO’s remit spans the<br />
entire business, meaning they are perfectly positioned to support cyber security ef<strong>for</strong>ts spanning the<br />
entire estate. They are able to look at the technology and systems and what investment in them can bring<br />
the business from a strategic standpoint.<br />
Improve the risk management framework<br />
The CFO’s job is to finance things that are business critical. If the Chief In<strong>for</strong>mation Officer (CIO), Chief<br />
In<strong>for</strong>mation Security Officer (CISO), Senior Management Team (SMT) make cybersecurity part of<br />
everyone’s role, from team members to those at the top of the organization, it ensures it is ingrained in<br />
policy and procedure. By having this shared visibility and responsibility, it will be clearer as to why it needs<br />
financing, not just as a cost centre, but an enabler. <strong>Cyber</strong> security is about protecting the assets that are<br />
of value to your company, and so should be embedded in everything that you do. Effective governance<br />
is essential to business success.<br />
<strong>Cyber</strong> <strong>Defense</strong> <strong>eMagazine</strong> – <strong>March</strong> <strong>2022</strong> <strong>Edition</strong> 26<br />
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