Cyber security – challenges and opportunities for business

Business New Zealand AIG - 11 September 2014

Cyber risks are increasing

Source: NCSC 2013 Incident Summary

Targets

© Colmar Brunton | SLIDE 6 © Colmar Brunton | SLIDE 6

The main barrier to improving cyber security behaviour is confusion

Don't know

I don't think it's important

I find the language and content too complicated

I don't know what steps to take

I don't know what or who to trust

0% 20% 40% 60%

15%

8%

28%

33%

43%

Q Why don’t you take more steps to manage your cyber security?

Connectsmart.govt.nz

SMEs

• Critical to NZ’s economy – account for 97% of all enterprises in NZ

– employ around 30% of the working population– generate more than a quarter (27.8%) of our GDP

• More SMEs taking advantage of the Internet

• Usually don’t have a dedicated IT person or department

• May rely on the internet to do business but may not have the time nor expertise to understand security

• Higher risk tolerance

Technology is no longer simply a budget line or operational issue—it is an enabler of virtually every strategy.………..Technological opportunities abound, but so do threats, including cybersecurity risks, which will become the concern of a broader group of executives as digitization touches every aspect of corporate life.

McKinsey Quarterly – Sept 2014.

The use of technology in business changes our risk landscape…

The problem we’re all facing…

2010 Apple iPad

2008 Apple iPhone

2014 Apple iWatch

2004 Facebook

1990-2000Dot.com boom

1998

The Rise of Technology = a

change in where data is processed

The effectiveness of traditional

security controls – i.e.

trust

H

L

Time

Where should you focus?

People Process Technology

• Our staff handle our data; Our customers receive our data; Our partners process our data

• Have we told them what’s acceptable / what’s not?

• “Top Down” security helps build a strong security posture

• A positive “Security Culture” works better than a “policing” approach

• Implementing the basics covers off 80% of your risks.

• Don’t let complexity trip you up.

• Don’t rely on big brands – always check they are securing your data

So what can you do….SME TOOLKIT

Connectsmart.govt.nz

Paul Ash Director, National Cyber Policy Office, Department of Prime Minister & CabinetConnectsmart@dpmc.govt.nz

Thank You

Matthew LordHead of Technology Governance and Risk, Kiwi Bank Mathew.Lord@kiwibank.co.nz