With so much of our lives dominated by technology, cyber security has the potential to affect all Connected Consumers, and all businesses. But our experience is that not all businesses – and certainly not all consumers – are taking the steps needed to be protected.
The first challenge is to talk about cyber security. We find that many organizations don’t want to discuss it at all, perhaps for fear of damaging their reputation. However, with cyber security in the global news on an almost daily basis, and with violations having the potential to impact so many people, we want to bring this issue to the fore.
A whole industry has grown up offering protection against cyber security breaches. Being prepared makes sense but needs to go beyond the expected technical backup and corporate compliance, insurance protocols, legal cover and crisis communications. Having front-line employees prepared to handle customer queries too is essential.
When any consumer-facing business suffers a security breach it is big news, and consumers become more aware of the issue and potential threat to their own personal data and privacy. This can result in a distrust of the online channel, presenting a significant challenge for businesses. It’s important for companies to respond quickly and transparently to any threat to consumers’ data to prevent a loss of faith in the digital medium.
We’ve been working with businesses to scenario test their preparations for and response to cyber security breaches. By evaluating different options for protection, we are helping companies to plan and prepare for one of the biggest – and least spoken about – challenges facing businesses today.