We live in an increasingly interconnected world where reliance on technology has become routine. The digitalisation of business has created huge opportunities and led to increased efficiency and growth, but with that rise has come an urgent need for more diligent focus on cyber-security.
Cyber risk is not ‘just’ a technical issue but a business risk that threatens all parts of the organisation and therefore needs to be dealt with at a boardroom level. In order to protect the company appropriately, boards must ensure clear responsibility and ongoing vigilance as senior managers are increasingly required to engage in ‘legal’ conversations around this topic.
The effects of the use of artificial intelligence (AI) are controversial and the EU is introducing a regulatory framework that sets legal standards for the technology’s application. This will have wider implications beyond the EU’s borders.
Over the last 18 months, businesses have seen an unexpected surge in fraud cases as individuals are presented with new opportunities to commit crimes. According to recent research from CIFAS (the UK’s leading fraud prevention service), 80% of fraud prevention professionals believe that businesses are ill-prepared for this rise in cases.
It’s a great question but frustratingly, there is no easy answer. Professional service firms grapple yearly with the perennial question of how much professional indemnity insurance is appropriate for their businesses, constantly reassessing the fine balance between premium and risk transfer.
In March 2020, hackers believed to be operating on behalf of a foreign government infiltrated software provider SolarWinds and then deployed a malware-infected update for its Orion software to infect numerous government and company networks
Even someone with a passing acquaintance with cyber security will be aware of the dramatic surge in ransomware over the past couple of years.
Trust. It’s a little word with big implications. For professional service organisations, trust is the backbone of any decent business model.
Accountants are well-placed to advise businesses on the steps they should take to protect themselves - cyber security is no exception
FGI exists to safeguard your firm or organisation against theft of the firm’s own money, securities or property by an employee, partner, contractor or volunteer. FGI can also be known as first party fraud, theft or employee dishonesty cover...
Ransomware attacks are increasingly targeting companies and their executives may be tempted to pay the requested ransom quickly to bring operations back to normal. This is not a decision any company should take lightly.
The UK’s Court of Appeal has allowed a representative action against Google, clarifying that individuals can suffer damage by losing control of data while potentially opening the floodgates for privacy class actions in the country. The court fired a warning shot to big businesses, reiterating that individuals’ data cannot be used for commercial gain without consent.
It’s almost too much to bear: hundreds of thousands are losing their lives, millions are losing their jobs and unknown numbers of us are dealing with innumerable other stresses triggered by Covid-19. To make matters worse, there are opportunistic cyber-criminals taking advantage of our insecurities as well as the goodwill that is inherent within the majority of us.
