Reacting to news that Europol’s European Cybercrime Centre study suggests cyber attacks will escalate over the next decade KPMG’s head of cyber security says that, to succeed, the fight against cyber crime can no longer be regarded as a problem for IT.
Malcolm Marshall says: “Given recent experience, it would be naive to think that cyber attacks will not continue to grow in scale and sophistication. With the UK’s digital economy accounting for over 8 percent of our GDP the potential impact of successful cyber attacks means that Boards must treat cyber security as a priority. The internet brings massive potential for business, but of course where there is business – crime will follow.
“Government recognises this and only two months ago the Department of Business, Innovation & Skills (BIS) wrote to the chairman of all FTSE 350 companies inviting them to undertake a cyber governance health check. What’s increasingly clear is that cyber-security should be a Board level responsibility and concern; it may be tempting to delegate cyber strategy to IT, but to do so is to delegate responsibility for the business’s whole security, as well as that of every customer and supplier.”
Malcolm’s comments follow publication of KPMG’s Data Loss Barometer which revealed an almost 50% increase in hacking incidents recorded by organisations between 2010 and 2012.
He adds: “New technologies such as mobile devices, cloud computing, big data and social media bring real opportunities, but they also bring new risks and potential attack techniques. Companies need to strike a balance between technology opportunity and cyber threats. Good practice such as anti-virus systems and firewalls are common place, but what’s required is a more nuanced intelligence-led approach which helps an organisation to tailor its security posture to the changing threat, as well as making sure the organisation is well placed to handle the consequences of a cyber incident. This approach can only be instituted at Board-level.”
Mike Petrook, KPMG Press Office
020 7311 5271 (t), 07917 384 576 (m) or email@example.com
Notes to Editors:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.