Chills, confusion, panic-these are the feelings you get when you realize that something has gone wrong. If until a short time before you thought it could only happen to others, in a moment you realize that it didn’t-someone managed to hack the security system.
Uber has t In recent years also altrrovidedthis situation when the company fell victim to a major cyber attack in November 2016. On that occasion, hackers stole data from 57 million driver and user accounts.And large facilities, such as Yahoo and England’s National Health Service (NHS), have found themselves in this kind of situation. Just a few weeks ago, NHS Norway’s counterpart, the regional health authority, had half of its private medical records stolen. The same thing happened when the official website of the Winter Olympics was taken offline following a cyber attack. It seems clear that the question is not whether or not an organization will be attacked, but when it will be attacked.
Nevertheless, there are still many who believe that this may not happen. This way of thinking, a foolish inclination to optimism, can lead to the ruin of any company that does not take the necessary measures to protect itself.
HOW CAN OPTIMISM CAUSE LOSSES?
Optimism inclination means believing that only good things can happen. In an article published by “The Guardian,” neuroscientist Tali Sharot explains how human beings are instinctively predisposed to overestimate the possible outcomes of their actions. Human beings are optimistic and hopeful by nature, even when this is irrational. According to Sharot, the 2008 financial crisis was the result of this optimistic inclination. When all signs showed that something was wrong, most people continued to believe that the market would maintain an upward trend. For what reason? According to one study, 80 percent of the population would actually be too optimistic in the face of adversity.
CYBER SECURITY: A GLASS HALF EMPTY RATHER THAN HALF FULL
A recent report by Deloitte states that 72 percent of cyber attacks go unnoticed for several weeks. Nevertheless, only 7 percent of enterprises consider cyber security to be a priority for their digital transformation. The inclination toward optimism is perhaps the cause.
The threat of cyber attacks is increasing rapidly. It is time to change strategic priorities and make cyber security the new agenda. The risks of cyber attacks are not just an IT problem; they also affect governance. The first step for good management of these risks is board awareness. Managing effective security protocols is part of the company’s responsibility. Controls should not be skimped on; they should not be seen as a hindrance, but rather as something to be integrated into the company’s routine.
The best advice in terms of cyber security management is to see the glass as half empty, that is, to be concrete and pragmatic. One should not make the mistake of:
- believing that you are invulnerable
- Underestimating the serious consequences in the event of an attack
- overestimating one’s ability to handle potential threats. No matter what the size of the company, being able to have trustworthy security software is more important than ever.
A REALISTIC ATTITUDE IN A WORLD CHARACTERIZED BY CYBER INSECURITY
In late 2017, when news of Uber’s security breach spread, it was also learned that the company had attempted to cover up the incident by paying hackers to destroy data and sign confidentiality agreements. Was this decision the result of a penchant for optimism? Only the company can answer that question.
Yet it was not the end of the world. This incident did not bring Uber to ruin, but its credibility was called into question. In terms of real costs, millions of dollars were lost in the process.
While most boards now understand the importance of data protection, some still prefer to believe that data theft is a remote possibility. Yet if there is one thing Uber’s misadventure should have taught, it is that prevention is better than cure.
“Security for us is a permanent and continuous effort.”
– Nadim Baklouti, CTO of DiliTrust
With DiliTrust software, you can ensure the security of confidential data. For example, our DiliTrust Governance and DiliTrust Exec solutions offer security comparable to that of a banking institution. Data is stored locally on servers not subject to the Freedom Act and certified by international standards (ISO 27001). You can request a free demonstration to strengthen your data security strategy. Our team has a broad portfolio of knowledge and can answer all questions related to management and IT. For more information about our products, you can contact us to receive a free demonstration of the solution that best suits your needs.
