Following the news that Reckitt Bencksier saw a 2% decline in sales last quarter- a sign of the destruction caused by the Petya ransomware attack last month. Raj Samani, Chief Scientist and Fellow at McAfee commented below.
Raj Samani, Chief Scientist and Fellow at McAfee:
“Cyber attacks damage far more than a company’s reputation, often hitting the bottom line hard. The impact on revenue is huge – and does extend beyond the immediate detrimental impact of the attack itself. Many organisations suffer the consequences over many months as it takes time to get systems corrected and brought back on track.
“This should serve as a warning to corporations across the globe. Businesses cannot afford to dismiss cyber security as a problem which just belongs to the IT department. The financial future of a corporation – and often that of its customers – can hinge upon the security of its business and user information. As a result, it is crucial for executives, including the CFO and CEO, to take an active role in understanding the level of cyber risk they’re exposed to in order to implement an appropriate, effective cyber security strategy. This process should include assessing the value of the company’s data assets and implementing mitigation strategies appropriately proportioned to the level of risk involved. Organisations need to find the right combination of people, process and technology to effectively protect the organisation’s data, detect any threats and, when targeted, rapidly correct their systems.”