Stand-out Priority for Action by Leading Executives: The Increasing Threat of Cybercrime

At KnowledgeBrief Innovation Days, clients – leading executives from every industry and all disciplines – produce a collective expert view on the most pressing ideas for action right now. This month, KnowledgeBrief clients focused on cybercrime.

There have been a number of high profile cases of hacking over the last few months – from TalkTalk’s cyber-attack in October 2014 to the recent denial-of-service attack on HSBC internet banking – and so once again cyber security has been identified as a major risk to every organisation today.

We are building our lives around our wired and wireless networks and cybercrime is developing as a big threat to business and society as a whole. What is unique to this area is that nearly everyone has access to the cyber world, but although we are globally connected, no single entity can claim control¹. Unfortunately, governments and businesses tend to underestimate how much risk they face from cybercrime and how quickly this risk can develop. How many businesses suffer from cyber-crime are unknown – most hacking goes undetected, and also businesses sometimes try to cover up breaches of data security, to avoid embarrassment².

The following management techniques on KnowledgeBrief’s Advanced Management Platform consider the complexity behind security, big data, and risk management:

• Managing Cyber Security Threats
• Big Data Analytics
• Security and Ethical Challenges of IT
• Crisis Management
• Enabling Private Cloud
• Business Continuity Management

These techniques join a library of MBA-level and Chartered Management Institute approved content providing practical case evidence, success factors and implementation advice in a unique format designed for leading executives.

At next month’s Innovation Day – Build Resilience against Cybercrime – KnowledgeBrief clients will cover with expert Dr Peter Trim, Birkbeck University of London, the key organisational and leadership issues of managing cyber risk. This will include the essentials of building a security culture, and for managers to adopt a collectivist approach to security.

A main outcome will include guidance as to what can be done, at Leader and Manager level, to counteract the growing threat posed by computer hackers, organized criminal gangs and state sponsored organizations.

Sources: ¹ARTIS Research website (2016), Cyber Crime Research, Feb 12; ²The Economist (2015), Think of a number and double it - Businesses would benefit from reliable information on cyber-crime’s costs, Jan 17th 2015.