Cybercrime, well beyond an IT issue

27-cybercrimeAs 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.

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