The Chief of MI6 talked about the seismic changes he sees in the world, specifically in the espionage environment. He discussed China, Russia and Iran, three of the ‘Big Four’ priorities for the intelligence world. He also explained what the UK is doing to address the fourth priority – the amorphous, shape shifting character of international terrorism.

The UK must be better at anticipating, preparing for and responding to a range of challenging risk scenarios, including those which it has never experienced before. The report emphasises that the Government’s current strategy of centralised and opaque risk assessment and risk management, which fails to make adequate preparations, has left the UK vulnerable.

Companies are moving to a risk-based cybersecurity stance. The approach recognises that not all assets are created equal, nor can they be equally protected in today’s all-encompassing digital environment. Some assets are extraordinary—of critical importance to a company and its business. The digital business model is, in fact, entirely dependent on trust. If a company’s customer interface is not secure, the risk can become existential. Safeguarding such assets is the heart of an effective strategy to protect against cyberthreats.

In the last instalment of this series, learn about business interruption losses during a cyber event, and how to mitigate them.