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14th July 2021

Partner Blog: Managing Cyber Security

Since the start of the pandemic, companies have faced significant challenges and have been forced to innovate, to adapt to the new context. Digital transformation suddenly went up a gear as online working, learning, shopping and socializing became the norm, to protect our health & safety.

It’s clear that our way of living and working has permanently changed, but as companies and institutions adapt and re-invent the way they operate they face an increase in cyber exposure. Cyber-attacks are on the rise. The World Economic Forum has identified failure of cyber security measures as one of the global risks of 2021.

What makes an organisation cyber-resilient? And throughout lockdown, has cyber security been a help, or a hindrance to digital transformation?

In a recent Capital Ideas podcast from Capital Law, Sue Wardle talks to IT director Rhys Davies, commercial lawyer Chris Coughlan, and insurance lawyer, Charlotte Gregory about some of the main topics surrounding cyber security within the digital transformation context.

Rhys Davies commented “As with most businesses our biggest challenge was around the move to 100% remote working leading to an increase of risk. Previously 90% of our work was conducted inside of our network, securing 1 entry and exit point, now there are nearly 200 potential routes for hackers to try to infiltrate our network. There was a period of checking and took a series of fairly standard steps to make sure we mitigated the cyber risk we faced.”

“Staff are the biggest risk with regards to cyber security. The number of cyber-attacks has increased exponentially during the pandemic and COVID is a perfect vehicle for hackers who prey on users fears and insecurities. We saw really well designed emails asking users to reset credentials”

“In our opinion the most effective protection is a combination of strong security measures and constant vigilance by end users who have been well trained and are well versed in spotting phishing emails and so on.”

“Cyber security breaches are one of the biggest risks to your business and should be treated as such. They should be at the top of every corporate risk register and a board level topic that should be debated and discussed in the same manner as your businesses financial performance.”

Listen to the full podcast here: https://www.capital-law.co.uk/news/2021/03/19/capital-ideas-managing-cyber-security/

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