BIoT Canada

C-suite must be part of any cyber security action plan: GTEC

October 4, 2016  

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GTEC,, is joining forces with IBM Corp. and Telus Communications Inc. to deliver its annual Cyber Security Program Nov. 1 at the Shaw Centre in Ottawa.

According to the conference organizer, the “challenge of cyber security has escalated from an IT problem into a strategic corporate issue that demands C-suite ownership and action, adding that “when it comes to cybercrime risk and impact, there is no shortage of data to support cyber security threats as a nation-wide priority and global concern that is approaching crisis levels.”

GTEC said in a release that cyber incidents increased by 38% from 2014 to 2015, with the average cost of a cyber breach exceeding $3.79 million. The estimated cost of global cyberattacks is $400 billion annually, and this figure is expected to catapult to $2 trillion by 2019.

“Cyber security is not a defensive game,” it said. “In a rapidly evolving digital world, C-level executives must arm their organization with an offensive strategy that mitigates and addresses cyber risk.  It is a challenge that GTEC aims to help leaders address head-on.”

With the theme, All Hands on Deck: Cyber Security is Everyone’s Business, the conference will include cyber security authorities from the public and private sector who will discuss topics such as how best to understand the source of cyber threats and the impact of a cyberattack and ways to help mitigate internal and external cyber threats.

“Today, executives aim to better anticipate and even predict threats before they happen,” said Patrick Vandenberg, worldwide program director of IBM Security. “Companies have massive volumes of data to process to determine threats and next course of action, but with very little time to do it, plus deal with new attacks that are constantly emerging.

“Cyber threats demand new thinking and approaches, such as those enabled by the latest cognitive capabilities. Cognitive computing can provide unprecedented insight into cyber threats, enable a more targeted, timely and impactful response, and ultimately help address the security skills gap.”

Marc Kneppers, chief security architect at Telus, added that in this digital age, cyber security influences every facet of a business from its corporate strategy and technology roadmap to the network and infrastructure that supports it.

“It is critical for all organizations to prioritize cyber security; develop a strategy; and make the investments required to execute successfully. An action plan underpinned by the right technology and expertise helps to mitigate the many financial, business and social implications of a cyberattack.”

“Insider threats can emerge from individuals who exploit legitimate access to the cyber assets of an organization for unauthorized and malicious purposes, or who unwittingly create cyber vulnerabilities,” said Adam Hatfield, senior director, Canadian Cyber Incident Response Centre, Public Safety Canada.

“Today, insider cyber security mitigation demands the same commitment as corporate reputation and safety management. Every employee, from the front line to the C-suite, must be engaged.”

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