Hamlins’ cyber partner discusses financial and reputational issues for FDs in the Financial Director10th March 2017
In his article in Financial Director on cyber security, ‘Can you afford to ignore cyber security’, Partner Matthew Pryke looks at the big financial and reputational issues that FDs need to be aware of in 2017 and beyond.
It has become an almost daily occurrence to read about another organisation falling victim to a high-profile cyber-attack. Whilst the concept of the risk may be understood, the real financial and reputational damage suffered by victims of such attacks is something all FDs are tasked to guard against. The potential consequences of falling victim to a cyber-attack are far reaching and go well beyond organisational disruption and financial losses. Diversion of management time, loss of business, regulatory investigations and often most crucially reputational damage are all too often the inevitable outcome of a flawed cyber security strategy.
In a recent survey, more than a third of executives felt a cyber-attack was inevitable. Therefore, having a balanced and proportionate strategy, which reflects the increasing risk, is essential.
Read the full article in Financial Director: ‘Can you afford to ignore cyber security?’