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Matt Cherian, Vice President of Strategic Partnerships, discusses why it's becoming increasingly urgent to find better tools for assessing third party vendor risk when underwriting for a policy.
Information security is vital for operating in a secure environment, and as one of the largest energy companies in the world, Energias de Portugal (EDP) recognises this. It used a Bitsight solution to improve its security performance and build confidence among its stakeholders. Paulo Moniz, CISO, EDP, explains how the solution has future-proofed operations.
TechRepublic's Karen Roby talked with Stephen Boyer of Bitsight about Business Email Compromise (BEC) and what to do if a person falls victim. The following is an edited transcript of their interview.
Bitsight's VP, Jake Olcott, shares some important steps retailers can take now to mitigate supply chain cyber risk this holiday season and beyond.
Bitsight's VP, Jake Olcott, shares his predictions for where cyber risk will enter the mainstream in 2020.
“You hear a lot about ransomware, but BEC is causing more damage,” said Stephen Boyer, CTO of security ratings company Bitsight, who referred to BEC as a “silent killer.”
Ratings agencies are a fact of life for the financial community and as cyber security rises in importance, so too must the security of an organization be rated. Security rating platforms is a rapidly growing area of the security technology market.
Hackers would like to break into your company. This is no different in Belgium. The main threats largely follow global trends, but are different here and there. Miguel De Bruycker of the CCB explains where the danger lies.
Sharing data helps makes life easier, more convenient and connected, but the data is still your personal property. The price of it getting into the wrong hands can be very high in physical, financial and psychological terms. This includes limitation of an individual’s rights, discrimination, identity theft or fraud, financial loss, damage to reputation and significant economic or social disadvantage.
A recent report found that the average tenure of a chief information security officer (CISO) is only 18 to 24 months, citing constant stress and urgency of the job as the core reasons. For comparison, the average tenure of a chief financial officer is 6.2 years and the average tenure of a chief executive officer is 8.4 years.
“Our national security is at risk and it's well past time to address this challenge with leadership and resources,” argued Jake Olcott, VP of government affairs at Bitsight. “The entire defense supply chain has been under attack for years, and it's not just the small companies that are vulnerable. Defense agencies must gain visibility immediately. We can't afford to wait.”
“Financial success, brand perception, business continuity and company reputation now all hinge on security performance,” said Tom Turner, CEO, Bitsight, which commissioned the report. “But in order to effectively manage performance, you have to measure it. We think this study should serve as a...call for security leaders and their executives and boards to take a close look at their strategies for security performance measurement and reporting, after all, their businesses are now on the line.”
Cybersecurity performance is critical to achieving commercial success, according to a Bitsight study.
Do executives understand and effectively measure risk, and adequately communicate it to their board, customers and critical stakeholders? A study conducted by Forrester Consulting on behalf of Bitsight, suggested they may not be, with 40% of enterprises losing business due to their cybersecurity performance.
In a survey of 207 business people responsible for managing cyber risk at their company, 38% admitted that they have lost business because of a poor security performance. And it’s not just a company’s actual security hygiene that loses them cash – even the perception of sub-par cybersecurity is enough to put off customers. Conducted by cybersecurity ratings firm Bitsight and market research company Forrester, the study also found that 80% of surveyed customers experienced a cybersecurity incident in the past year alone.