We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
The year 2016 is turning out to be a record one for data breaches, and cybercrime won’t be slowing down any time soon. According to global digital security firm Gemalto, nearly five billion private records have been exposed globally since 2013. Data breaches were up 15% in the first half of 2016 compared to the prior six months.
Back in May 2016 I posted a blog (Be Prepared – Data Breach Notification Laws are Changing), which covered how data breach notification laws were evolving. At that time the state of Tennessee amended its law, becoming the first state in the nation to require notification of any data breach, whether the information is encrypted or not. I also predicted that state laws would most likely become stricter in the not too distant future…
Does the threat of Ransomware crippling your organization’s network and operations keep you up at night? At this point, it kind of should. However, there’s a lot your CISO and IT staff could be doing to mitigate the threat and help you sleep a bit more soundly.
Troubles continue for Millennium Tower, the luxury high-rise building that has been coined “the leaning tower of San Francisco” for tilting two inches at its base and sinking 16 inches. As we predicted in our August 11th blog, a lawsuit ensued and it’s huge: Condo owners filed a $500 million class-action lawsuit against the developers, Millennium Partners, and the Transbay Joint Powers Authority.
With the Presidential Election only days away, the question remains: Will the election be hacked? In this case, a cyber breach can lead to two major issues. The first is stolen data of registered voters; the second issue and perhaps the more frightening one – manipulation of the election results.
Risks pose threats to a broad range of your organization’s resources, such as assets, company reputation or time. These resources are spread throughout a variety of potential risk owners. In turn, each risk owner may have access to only certain capabilities for addressing risk. For example:
An Enterprise Risk Management (ERM) process can yield a valuable communication for your organization: the Risk Appetite Statement. This statement serves an important assurance role for stakeholders in your company, and is an indicator of critical, board or executive-level oversight of risk management. It serves as a tangible product of an effective effort to assess and control risk across the enterprise. It can be referenced as the basis for any communication or disclosure your company may need to make about its risk management policy and efforts.
The massive October 21st distributed denial of service (DDoS) attack on Dyn, a prominent Domain Name Server (DNS) provider, resulted in many US websites going offline. The attack was very sophisticated and precisely targeted. While no customer data was breached in this event, it was still extremely impactful on the effected organizations. When the DNS provider went offline, more than 100 popular websites, such as Reddit, Twitter, Box, Spotify, PayPal, Squarespace and Amazon Web Services (AWS) were unavailable. While most of us could survive without Twitter – though barely – the unavailability of web hosting platforms such as AWS, Box and Squarespace most likely caused interruptions in numerous businesses.
Enterprise Risk Management (ERM) concepts can help retailers create a competitive advantage out of the business of managing risk. ERM’s “portfolio view” collects all risk and mitigation activity into a single Risk Register. This enables management to coordinate mitigation efforts across functions, rather than leaving risk to be managed in a patchwork fashion among various pockets in the organization. These are the critical areas for retail organizations where embracing an ERM approach adds value and opportunities that would likely otherwise be “missed:”
Organizations that are seeking process efficiency and an edge on their competitors look toward technology to support their business plans. Often, new technology advancements will enhance an organization’s performance but unfortunately, the introduction of new software, systems and processes open them up to (unanticipated) cyber-related risk and exposures.
Our areas of expertise include:
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information: [email protected]
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information : [email protected]
New Jersey
175 Main St
Woodbridge, NJ 07095
Tel: +1-732-395-4250
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
