As announced, a third key ESG theme in 2015 is – or should be – cyber security. This major threat, with a substantial material impact, is still underestimated by companies, often downplaying it as an IT issue while it should be a strategic issue for them.
The world is increasingly interconnected and it is becoming quite difficult to establish where a company’s key assets lie. The protection of private data and intellectual property is therefore growing into a real challenge. In 2012, the well-known system security company Norton estimated 1.8 people per second fall prey in 24 large countries fall prey to cybercrime. The cost to consumers is estimated to be a whopping USD 110 billion per year.
These fast-growing data volumes are not shared between companies and clients, but are increasingly being exchanged between employees, supply chain and contractors.
To continue to read the article : https://insights.petercam.com/misc/cybercrime-well-beyond-an-it-issue