Thursday, June 29, 2017

Business Espionage: The Slow Burn Costs

"Businesses need to be aware of the full costs of a cyber-attack, in particular, the “slow-burn” costs (i.e. those associated with the long-term impacts of a cyber-attack, such as the loss of competitive advantage and customer churn). When added to immediate costs (i.e. legal
and forensic investigation fees, and extortion pay outs), slow burn costs can dramatically increase the final bill."
Lloyd's Report - in association with KPMG and legal firm DAC Beachcroft more

Lloyd's is promoting their cyber-insurance with this report. Their warning, however, actually applies to all forms of business espionage. Insurance is for the disaster. A good Technical Information Security Survey can prevent disasters. You need both.