To say the face of cyber and the nature of cyber attacks continues to evolve would be redundant. This is particularly evident with the latest trend in cyber-attacks taking the form of ransomware on a global scale.
It is important for the industry to identify and recognize the evolving financial impact of such attacks. As the types of attacks change, so do the impact and nature of the resulting financial damage.
With intrusion…
From a U.S. perspective, the initial fear of cyber has been the loss or release of personally identifiable information (PII). This is the information that can lead to identity theft — names, addresses, account numbers, social security numbers and the like. The concerns associated with the loss of data have not dissipated, nor have the attacks which are focused on obtaining personal data. The impact on business continuity due to business interruption and the adverse effect on business value and revenue generation are additional concerns.
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