Execs need education on cyber crime

The amount of money that companies can lose through having inadequate security measures in place is immeasurable.

This is according to Michael Fey, author of Security Battleground: An Executive Field Manual.

He believes that the security breach situation is getting worse with organisations beginning to see massive losses as well as annoying glitches and data theft.

“It is estimated that over £1 trillion in damages have already occurred due to their cyber activities,” he explained.

“But over the next five years, that number is expected to rise to £5 trillion. So there is a lot of organisations that will retain an exorbitant cost as a result of these activities."

Mr Fey explained that his Executive Field Manual came about from seeing companies with no strategic security plan when he was working at McAfee several years ago. He said that its aim is to help educate executives on the threat of cyber crime and equip them with the tools they need to fend it off.

Breaking news from ihotdesk, IT security solutions in London.