Companies should be paying more attention to Supply Chain Risk Management in their Information Communications Technology, argues Operational Risk Management. With cybersecurity risks, important research and development projects or M&A activity details may be at risk of hacking. But operational risk management fundamentals can also be applied to cyber issues: identify, assess, decide, implement, audit and supervise.
The post also argues for effective federal legislation to combat the situation, mentioning the Cybersecurity Act of 2012, which died in the Senate last week. According to Dave Aitael, CEO of security company Immunity Inc., “what this bill does—it recognizes ‘critical' industries like energy, transportation, emergency services and financial networks, as the new targets in the cyberwar battlefield and requires them to upgrade to military-style defense.”
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For more on cybersecurity legislation, see Businesses Push Back on Cybersecurity.