Governance, Risk Management, and Compliance

The impact of potential cyber attacks on the financial sectors has become business critical. Currently, over half of all financial companies had been affected by cyber attacks, and companies in the financial and insurance sector have been hit more often than average at around 60 percent. ISO certification is not enough. Both national organizations such as the Federal Office for Information Security (Bundesamt für Sicherheit in der Informationstechnik or BSI) and international organizations like the International Monetary Fund (IMF) view the increasing number of cyber attacks as a danger to financial stability.

ISO certification has not cured the rampant cyber crimes. Cybercrime has become the new normal and is greatly affecting the resource industry. Every day, crimes are committed against leading companies that were thought to have top security protocols in place. Cybercrime continues to cause a serious financial impact on economies. Issues such as stolen confidential business information, online fraud, financial manipulation and the cost of securing networks after hacking are some of the most devastating effects on companies that refuse to implement the right ISMS.

Healthcare centers are in a tight spot. As administrative technologies like electronic health records (EHRs) and patient and provider portals become standard issue in healthcare organizations, the access to data and information so strongly demanded by patients, providers, payers, and employees is also fast becoming a target of scrutiny and risk. Regulations such as the Health Insurance Portability and Accountability Act (HIPAA) require healthcare organizations to implement administrative, physical and technical safeguards to ensure the integrity and privacy of patient records and other sensitive medical data is not enough to fight against cybercrimes.

Cybersecurity, as it should be, is a concern for all organizations and the energy sector is no different. “Stuxnet, a malicious computer worm that targeted SCADA (supervisory control and data acquisition) systems in 2010, was a watershed moment for the sector,” explains Sloan. “It showed how a cyber attack can have a serious impact on the physical, as well as the digital, world.” However, while data breaches are prevalent, the subject of cyber security in the energy sector should be of perhaps greater concern using a comprehensive ISMS tool.

As government services go digital, criminals are spotting new opportunities for fraudulent claims and theft. Around the world, the digitization of government is gathering pace, with a host of interactions now carried out online. In some countries, you can vote, pay bills and taxes, and get medical prescriptions – often using a single, digital citizen ID that’s stored centrally.

Consumer trust is a vital issue in every organization. Cetbix ISMS empirically analyzes the key factors that influence the adoption of innovation in an organization. For example, the advancement of mobile devices and cloud adoption have increased the uptake of innovation. Technology security threats have increased tremendously and have become a challenge for both users and innovators. Cetbix empirically inspects the components that influence the expectations of both your users and organizations to adopt a secure methodology, such as customer trust and data security.