Cyber Risk Through Integrated Supply Chains in Today’s Tech Driven World
On 10 November the BSCC had the pleasure of co-hosting an event on cyber security with PA Consulting at their Stockholm offices. The main speakers were PA Consulting’s Carl Nightingale, partner and cyber security specialist, and Anders Herrström, management consultant.
Mr. Herrström began the event by discussing examples of cyber security vulnerability and attacks within the retail and commercial sector and financial services, namely COOP and SolarWinds, highlighting the expensive nature of such attacks, what their impacts were, and the modus operandi of the hackings. It was made clear to everyone in attendance that shoring up one’s company’s cyber security was necessary and expensive, albeit less so than becoming a victim.
Mr. Nightingale then talked about how cyber attacks are industry agnostic, i.e. cyber attacks can and will effect all industries’ platforms, and discussed the impact on brand reputation that such attacks have. One impact of this is that threat intelligence reports are now being used as a part of company valuation, and are therefore used as bargaining chips in acquisitions.
The importance of understanding the ”end-to-end” system in a globally connected world and who one’s partners were was raised, as a third party can have devastating consequences, despite maybe being seen as outside of a company’s own remit. Mr. Nightingale and Mr. Herrström also discussed the threats and trends within cyber security, and the event was concluded with an active Q&A sessions from those in attendance.
The BSCC would like to thank Mr. Nightingale and Mr. Herrström as well as PA Consulting and all those who came for a lovely evening.