Would you agree with me that in a post-pandemic era, digital platforms are the best avenues to communicate with and deliver services to customers? Businesses now use digital platforms as their main and sometimes only channel, yet a number of us do not have comprehensive digital risk management policies in place.
- There has been a 500% increase in attacks on digital platforms and financial infrastructure in the last 18 months.
- The world lost $945bn to Cybercrime on digital platforms in 2020.
- The world spent $145bn trying to protect digital platforms from attacks in 2020.
- It is estimated that 10.5bn would be lost to cybercrime in the next 3.5 years.
How do you prevent your Credit Union & members from becoming part of this statistic?
The scariest part is that your organization may already be compromised or under attack, and no one actually knows that this is happening.
Whenever the subject of risk management within cyberspace is discussed, a number of us assume that this is the job and problem of the IT department. However, the board of directors of any organization plays the most important role in any risk management approach adopted.
“99% of all successful cyberattacks on digital platforms emanated from non-IT staff.”
In fact, the non-IT staffs are the most “at-risk assets” in your organization’s risk assessment matrix, therefore safeguarding your human capital should be a key part of your overall digital risk management approach.
Adopting an organization-wide risk awareness culture will ensure that your employees, members, customers, partners, and vendors;
- Understand the current & emerging global cyber threats
- Understand the need for your risk management & IT security policies
- Understand how to comply with and implement risk management policies and procedures
- Reduce the likelihood of a successful cyber attack by 80 – 90%
Would you like to learn more about Digital Risk Management?