Businesses enforce sign-in procedures and door passes. They install security cameras. They turn on security lighting at night. They may even have patrols to secure their grounds and buildings. But the three experts I spoke with this month agreed: Your business will be a victim of attempted cybercrime – it’s a matter of WHEN, not if. Is your business ready?
As I make my way through May – Cybersecurity Month – I’m coming to grips with the fact that we need to be thinking far more often and far more carefully about our online & digital security.
We need to be vigilant about protecting our identities and our assets in cyberspace. That means documenting your digital assets as part of your estate (read more about that here) and cooperating with your financial institution’s efforts to safeguard your assets against cybercrime (read more about that here).
This month’s episodes of my podcast I'm a Millionaire! So Now What? explore cybercrime and cybersecurity in its many forms (listen & subscribe here).
In the May 7th episode Under CyberAttack: Cybersecurity, What Self-Made Millionaires & Wealthy Canadians Need to Know, I share some statistics, reasons you might be an easy target, as well as some of the more common methods used by hackers.
Then, in last week’s episode (May 14th) Cybersecurity: Is your business at risk? I talk with Catherine Evans, Senior Vice President, National Cyber Practice Leader at Marsh Canada, about cybersecurity for businesses of all sizes. One of the fascinating trends Catherine revealed is the stunning shift in market value from brick & mortar assets to intangible assets!
Components of S&P 500 market value:
1975 17% intangible, 83% tangible
1983 32% intangible, 68% tangible
2015 84% intangible, 16% tangible
(Source: Ocean Tomo, LLC)
In yesterday’s podcast episode Cybersecurity Theft, Threat or Breach: it’s not IF, it’s WHEN, Patricia McLeod gives us the important perspective of a corporate director:
“What is at risk? Personal information and your obligations as a company to manage personal information. Clearly at risk in a hacking scenario. But it’s also knowledge assets. It’s the intellectual property. It’s the confidential commercial information. It’s the trade secrets. It’s the secret sauce of your company that becomes exposed by or capitalized through somebody hacking into your system.”
And be sure to catch the episode airing May 28th featuring a discussion with Byron Holland, CEO of Canadian Internet Registry Authority (CIRA), who has already warned me that “40 percent of Canadian businesses have suffered through a cyber-attack in the last 12 months alone.”
Byron Holland is also my guest next week for an Elevated Conversation.
A few times a year I host intimate, face-to-face dinner parties. I call them Elevated Conversations with Colleen O’Connell-Campbell. These are inspiring evenings of delightful food and drink paired with stimulating conversation. Their purpose is to bring together smart investors, entrepreneurs, business owners and professionals in an era of significant disruption to share ideas about the way we live and do business.
It will be a pleasure to continue my conversation with Byron Holland, CIRA CEO.
Cybersecurity -- the new frontier of online threats; protecting Canada’s domain
We’ll all enjoy a robust discussion about:
- What CIRA is all about
- Why, as a business owner, entrepreneur, or online consumer you should care about how CIRA is advancing the internet in Canada and around the world
- How CIRA is creating a secure, accessible and resilient internet for Canadians while also shaping internet governance across the globe
Wednesday, May 29, 2019
5:00 p.m. - 7:00 p.m.
Location: A fine Preston Street establishment (address to be provided with reservation)
Attendance is complimentary & by application here.