PwC’s Report – Delusions of safety? The Cyber Savvy CEO: Getting to grips with today’s growing cyber-threats

A report from accountant PwC’s  calling for increased awareness of technology issues among senior executives.

In June 2011, Nintendo joined fellow online games company Sony and US-based defence contractor Lockheed Martin in confirming that it was among the latest targets of cyber-attacks. The announcement came just days after the UK’s Chancellor of the Exchequer, George Osborne, told an international conference that British government computers are now on the receiving end of over 20,000 malicious email attacks every month1. The message is clear: no organisation in any sector is safe – and the threat is growing.

Nobody can say the world had not been warned. In January 2011 the World
Economic Forum named cyber attacks as one of the top five threats facing the
world—alongside planetary risks posed by demographics, scarcity of resources, concerns over globalisation, and weapons of mass destruction. Far from suggesting that fears over cyber threats may be over-hyped, the WEF highlighted the danger that they were actually being underestimated.

A few days later, UK Foreign Secretary William Hague proposed that Britain host an international summit on cyber security. Addressing the Munich Security Conference, he said: “The Internet, with its incredible connective power, has created opportunity on a vast and growing scale…but there is a darker side to cyberspace that arises from our dependence on it.”

As Mr Hague spoke, police across the world were continuing their efforts to track down the members of the hacktivist collective who unleashed disruptive attacks against a number of companies that had withdrawn services from WikiLeaks, including Mastercard, PayPal and Visa.

Against this backdrop, this paper examines why entering the cyber environment represents a seismic shift in the security landscape for all organisations. We will also highlight some of the structures, actions and capabilities that organisations can apply to achieve sustainable success in the cyber age.

The Cyber Savvy CEO _final

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