11:00 a.m. Pacific standard time

Beating cybercrime: a boardroom issue

  • Share

Session recap

Beating cybercrime: a boardroom issue

Cybercrime: just another business risk

It’s time for all companies, no matter their size or industry, to treat spending on cybersecurity as just another cost of doing business. That was the key takeaway from the panel, “Beating cybercrime: a boardroom issue.”

Panelists urged all companies to invest in cybersecurity, even if they think they are not at risk. The point was driven home when an anonymous on-site poll revealed that more than 50% of session attendees had been the victims of a cyber attack.

Cynthia Cohen of Strategic Mindshare explained, “You think you’ve plugged all the holes and you’ve protected yourself, but the world keeps changing, and there’s a new risk every day.”

“I always ask CEOs, ‘If you were to get that call first thing tomorrow morning saying that you’ve been breached, do you know the course of action?’” added Phyllis Newhouse of Xtreme Solutions. “Alarmingly, a lot of them say, ‘I’m not sure what we would do.’”

Panelists agreed that the C-suite — rather than learn the complexities of the technology — should focus on two things: being prepared and having a crisis plan. And they must treat it like any other business risk and keep it high on the agenda. At Caterpillar Inc., said Mike Zachman, “It’s acknowledged that it’s not the CIO’s problem; it’s a business problem.”

Shawn Henry of CrowdStrike Services added, “This is a risk we will be facing indefinitely. I see it like a lot of [chronic] diseases. It’s something that we have to learn to manage.”

Moderator

 

Bob Sydow speaks at EY Strategic Growth Forum

Bob Sydow
Principal, Ernst & Young LLP
EY Americas Cybersecurity Leader

 

 

Speakers

 

Cynthia Cohen speaks at EY Strategic Growth Forum

Cynthia Cohen
Founder & President
Strategic Mindshare

 

Shawn Henry speaks at EY Strategic Growth Forum

Shawn Henry
President & CSO
CrowdStrike Services

 

Phyllis Newhousen speaks at EY Strategic Growth Forum

Phyllis Newhouse
Co-Founder and CEO
Xtreme Solutions, Inc.

 

Mike Zachman speaks at EY Strategic Growth Forum

Mike Zachman
Chief Information Security Officer
Caterpillar Inc.