Based on the initial post "Who is responsible for Cyber Security?" and the peer’s feedback, the summary as follows.
Everyone agrees that cybersecurity is a global issue. The key discussion point is, what impact a company can have when the cybersecurity not given the importance, and who is accountable for any cybersecurity breach.
The example of a cybersecurity breach of a global company Equifax (an international credit report management company). We identify that there is a legal implication, also financial and reputational impact.
The legal and financial impact was the agency received a fine and has agreed to settle an agreement of up to US$700 million (£561 million) with the Federal Trade Commission, for failing to take reasonable measures to protect its network security, which led to a data breach in 2017.
The reputational impact for the company was that the Equifax CEO stepped down and clarified that the hack was a fundamental reason. The final U.S. House of Representatives subcommittee report showed “Equifax Failed to Prioritise Cybersecurity” (Portman and Carper, 2020).
Also, we identified that the purpose of the cybersecurity program is not to protect the organisation because this is an impossible goal. The purpose of cybersecurity procedures is to balance protection needs and operating business.
A summary of several contributors to this post. Chakraborty (2020) The business objective scoping in collaboration with business stakeholders followed by risk assessment and treatment shares responsibility between technical and business team.
Hruschka (2020) Cybersecurity solely as a mean to safeguard an organisation against malicious actors.
Riedler (2020) Cybersecurity is not only a concern for governments and companies but also individuals, and it is crucial to foster cybersecurity education to get competent individuals in cybersecurity.
Thomas (2020) All the sectors now use some digitalisation on their work culture, making them prone to cyberattacks. Every company faces challenges in protecting their customer data and business information.
Debiccari (2020) Transparency about Cyber Securities from companies is vital for keeping personal data secure. Privacy and transparency support each other, improving each other’s protection.
References:
Portman, R. and Carper, T., 2020. PERMANENT SUBCOMMITTEE ON INVESTIGATIONS. [online] Committee on Homeland Security and Governmental Affairs, p.2. Available at: https://www.hsgac.senate.gov/imo/media/doc/FINAL%20Equifax%20Report.pdf [Accessed 27 September 2020].
Chakraborty, S (2020) Initial Post - Who is responsible for Cyber Security?. Available from: https://www.my-course.co.uk/mod/hsuforum/discuss.php?d=225339 [Accessed 11 October 2020]
Hruschka, M. (2020) Initial Post Who is responsible for CyberSecurity. Available from: https://www.my-course.co.uk/mod/hsuforum/discuss.php?d=225339 [Accessed 12 October 2020]
Riedler, A. (2020) Initial Post Who is responsible for CyberSecurity. Available from: https://www.my-course.co.uk/mod/hsuforum/discuss.php?d=225339 [Accessed 12 October 2020]
Thomas, A. (2020) Initial Post Who is responsible for CyberSecurity. Available from: https://www.my-course.co.uk/mod/hsuforum/discuss.php?d=225339 [Accessed 12 October 2020]
Debiccari, C (2020) Initial Post Who is responsible for CyberSecurity. Available from: https://www.my-course.co.uk/mod/hsuforum/discuss.php?d=225339 [Accessed 12 October 2020]
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