Cyber Crime Protection is a proactive process of saving your reputation and your organisation.
It is a recognition that you always have to be aware of potential issues and problems. It’s not a case of IF you get hacked- but WHEN you get hacked.
Retailers, telecoms groups and internet companies, including Target, TalkTalk and Yahoo, have already had to pay the price for weak defences.
But in some ways, they got off easy.
Most of the stolen passwords were old and the account details rarely included immediately usable information. At most, the hacks involved theft of credit card numbers, which come with fraud defences. So customers have rarely felt much need to hold hacked companies accountable. Yahoo, for example, seems to have suffered very little drop off in customer loyalty after announcing the first of two giant hacks, although the jury is still out after the second one.
However professional services firms will not be so lucky.
Banks and companies pay extremely high prices for outside advice. They expect professionalism and confidentiality in return. Getting hacked is hardly a strong recommendation of either.
Faced with a choice of several firms who invested in cyber defences that were strong enough to withstand a pointed attack, and some who did not, which would you choose?
You may not lose a lot of money directly by being hacked- but the loss of your reputation may be more valuable. Ask yourself- how many new customers do you think that Mossack Fonseca- the Panama Papers consultants have signed up recently?