What a difference a decade makes: ten years ago, the FBI put the cost of cybercrime in the United States at $264 million, a mere fraction of the $1.4 billion reported in 2017. In many ways, what we see in that shift is a change in the very nature of cyber risk. Consider that ten years ago, data breaches—a category of cybercrime that can cost an organization millions or even billions of dollars today, and put its very existence at risk—didn’t even make the FBI’s list of top cybercrimes. In 2017, it was number two. Its primacy as a threat is reflected in conversations I have with RSA customers, where I hear again and again how fear of a data breach is keeping business and IT executives alike awake at night.
What’s at risk for businesses today is dramatically different from what was at risk not all that long ago. The forces that shape and define risk have changed completely over the last few years. And the strategies and actions to manage that risk have to change, too.
Risk Today: Bigger Problems, Higher Stakes
Digital transformation is one of the most influential forces—perhaps the most influential force—redefining business risk today. Informed by a combination of modernization (in the form of digital transformation), malice (the growing risk of cyber attack) and mandates (intensifying regulatory requirements), digital transformation sends organizations scrambling for ways to address new security and risk challenges that are difficult, large in scale and continually evolving.
Cloud, (Read more...)
*** This is a Security Bloggers Network syndicated blog from RSA Blog authored by Doug Howard, VP, Global Services. Read the original post at: http://www.rsa.com/en-us/blog/2018-08/digital-transformation-opportunity-and-risk-how-will-you-manage.html