Large organizations have always focused on managing risk, but the technological breakthroughs that have enhanced our world in countless ways have also transformed how leading executives engage in enterprise risk management (ERM). The pervasive and ever-expanding threat of cyber crime means that comprehensive strategies for cyber security are now absolutely essential for all organizations.
After all, a report by Cybersecurity Ventures estimates that cyber crime across the globe will cost more than $6 trillion annually by 2021.
The sheer magnitude and pervasiveness of the crisis represents a cyber security call to arms, and seemingly no one is immune. By now, the list of data breach victims reads like a who’s who of major corporations, governmental agencies, retailers, restaurant chains, universities, social media sites and more:
- The Department of Homeland Security, IRS, FBI, NSA, DoD
- Macy’s, Saks Fifth Avenue, Lord Taylor, Bloomingdale’s
- Facebook, Reddit, Yahoo, eBay, LinkedIn