"Nobody really knows for sure how long that [breach] was in the network. They (Target) could only estimate how many credit cards they (the hackers) got over a thanksgiving weekend."
Criminals appear to be a step ahead software vendors and organisations that deploy enterprise software. "They know as much about the systems we are designing that we do", he admitted.
Mulhearn called for both a technical response, the training of more cybersecurity experts and a focus on business processes. "I could have the best tech in the world but if I don't have the process to use it correctly there is no point," he said. "It is important to think strategically about your information and its value to hackers as well as yourself, he said. For example, intellectual property like algorithms for credit card fraud within banking is rarely the motive - but the credit information is. Thinking like a criminal can help you secure the right pieces of information. Think of your information as the value to the 'bad guys'."
Who is responsible?
Serena Gonsalves-Fersch, Head of Cyber Academy at KPMG rounded off the presentations at the event by urging organiisations to look at security capaibilitiies and responsibilities, rather than staff certifications. She also warned that there was a lack of clarity at board level over who was responsible for cybersecurity.
"In 2013 CEOs were asked who they thought on their team was responsible for cyber risk, and nearly half said 'CFO'. Cybersecurity as a problem needs to be articulated amongst everyone but tackling it needs to be given to a dedicated person." Organisations need a CISO type person to lead the cybersecurity charge, while the CEO will always have ot take ultimate responsibility if things go wrong.
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