PARIS: The key cyber risks

Far from diminishing in importance, cyber risks continue to rise up the risk manager’s list of priorities, as companies become ever more dependent on potentially vulnerable networks and are faced with new threats arising from new working practices. In the first of our Euro Forum sessions, participants discussed the results of a research study conducted by StrategicRISK in association with ACE, which looked at the key cyber risks faced by organisations across Europe.

Seven topics arising from the research were identified by StrategicRISK as offering fruitful ground for discussion. Among them were: improving IT processes and ensuring regulatory compliance, retaining control over security of information, and protecting against external and internal security threats.

Some of the key points to emerge from the debate were the vital necessity of ensuring good communication between risk managers and IT departments, the difficulties of implementing a security-conscious culture across an organisation, and the fact that vulnerability to data loss or theft can involve not simply financial loss, but maybe a potential death blow to an organisation’s reputation.