2019 Healthcare conference Navigating the changing & - - PowerPoint PPT Presentation

Technology and Cyber 2019 Healthcare conference

Navigating the changing & challenging risk landscape

David Legassick AVP Head of Tech, Cyber and Life Science

Technology risk perception shifting

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The use of everyday technology increases cyber exposures.

Common Exposures:

Online accounting/ Banking Website or a blog Social media account Email marketing Cloud Based Providers Electronically stored employee & customer data Online facilities: book, order or pay online Internet of Things: electronically connecting to devices, machinery and control systems Mobile & Apps Example: WannaCry: The NHS was breached because it’s Windows software hadn’t been kept up to date.

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Cyber: An undervalued risk?

Phishing attacks

80%

Impersonation fraud

28%

Ransomware

27%

Cyber is an undervalued risk all sized businesses, and it’s easy to see why:

• Cyber attacks on global brands like Marriott & Cathay Pacific dominate the media headlines.
• 32% of UK businesses have suffered a cyber security breach in the last 12 months.
• 60% Medium businesses
• 61% Large businesses
• When was the last time you read about that in the news?

* Data from UK Government

How Tech Amplifies Cyber Risks

Cyber criminals will often target smaller companies because of their relationships to

• ther higher value companies in the same

supply chain.

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Tech Amplifies Interconnected Risks

Damage the reputation of brand & leadership Put revenues of multiple businesses at risk Incur Legal & Regulatory Penalties Paralyse a manufacturing plant Shut down a supply chain Loss of shareholder value, equity , cash flow

Pharma manufacturer Merck hit by NotPetya with Malware crippling their IT systems. ICO fined the UK SME, Boomerang Video Ltd £60,000 due to SQL infection breach exposed personal details of 26,000 customers. Tesco Bank fined £30million by FCA. 26,000 Debenhams customer records were compromised from a cyber attack that targeted Ecomnova, a third-party e- commerce supplier.

The adoption of more Technology means an increased cyber threat and interconnected risks:

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3 Major Impacts of a Cyber Attack

Financial Damage

Disruption to trading and loss of

• business. Costs of repairing

affected systems and networks

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Legal Impact

Fines and regulatory sanctions including GDPR if personal data is accidently or deliberately compromised.

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Reputational Damage

Damage to the brand, customer and supplier relationships leading to loss

• f sales & profit

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Navigating a changing world..…

Radical Innovation in Security Cyber Global Threats Cyber claims trends Risk awareness & Improvement