BDO Recognizes Cybersecurity Awareness Month

October 2018

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As organizations across the globe continue to keep information security top of mind, we are taking the time to recognize National Cybersecurity Awareness Month. At BDO, we view managing risk as one of the most important tenants of cybersecurity, and have dedicated our cyber awareness month programming to this theme.  

Cybersecurity is a growing risk factor in all industries within the U.S. and worldwide. Cyber attacks are increasing in sophistication and magnitude of impact across market sectors globally.  According to a recent report issued by the U.S. Security Exchange Commission (SEC), the average cost of a cyber data breach is $7.5 million, and is continually increasing in value year over year.

With those statistics, it is clear that cybersecurity will continue to be top of mind for senior management, and that organizations need to take steps to avoid falling victim to cyber criminals. Throughout the month on this page, we’ll provide more insights from our cybersecurity professionals on ways organizations can effectively assess and manage risk. 

To learn more about the comprehensive cybersecurity services BDO provides, please click below.  
 
 
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CFOs as Guardians of Cyber

Cybersecurity breaches can impact a corporation’s employees, customers, processes, and technology, with IT and finance executives often working together to get systems back online after a cyber-attack.  Given the interdependencies and complexities of cybersecurity, there has been a growing need for finance professionals in organizations, especially in middle-market companies, to take ownership of their cybersecurity program.
 
  
 
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The New Era of Data Privacy: A GDPR Compliance Guide for U.S. Organizations

At BDO, we understand cybersecurity is a critical part of any organization’s data privacy strategy.  Privacy concerns are much farther reaching than in the past, ranging from bad actors to authorized users. It is critical for organizations to recognize that even authorized users may be in violation when the original intent of collecting, processing, transferring or storing personal data changes. 
 
  

 
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Top 10 Things CFOs Need to Know about Cyber

Based upon discussions conducted in 2018 with CFOs from numerous industries, including financial services, healthcare, government contracting, automotive, manufacturing, private equity, and law firms, it appears there exists a real gap in both knowledge and proactive actions to enhance cyber defense. Our CFO guide examines what CFOs should know about cybersecurity, and what questions they should ask their CIOs and General Counsels.
 
   

 
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2018 BDO Cyber Governance Survey

BDO’s 2018 Cyber Governance Survey shares insights from public company directors regarding their thoughts on how boards are investing in digital capabilities, prioritizing cybersecurity threats and assessing data privacy risks. The survey results indicate that new regulations and emerging risks are driving boards to reevaluate corporate strategy and investments.
 
  
 
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Cybersecurity & the CFO: Monetizing Risk

Given that cybersecurity is an entity-wide endeavor, and that a breach occurring in operations will cause an organization financial loss—potentially a significant one, the CFO, in particular, must find a better way to more accurately monetize the cyber risks in the enterprise. 
 
   
 
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BDO Cyber Threat Insights - 2018 3rd Quarter Report

As cyberattacks on financial institutions have shown no signs of slowing down in 2018, we have chosen to focus our 2018 Q3 Cyber Threats Report on the industry. Although businesses are getting savvier about cybersecurity, attackers are getting smarter and executing attacks with greater proficiency. 
 
   
 
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Compliance Does Not Equal Security

While these cybersecurity compliance assessments are good tools to evaluate the current state of cybersecurity policies, plans, and procedures, they alone are insufficient to ensure real cybersecurity.  This whitepaper highlights the appropriate actions organizations can take both before and after a cyber data breach to mitigate the potential negative impacts and optimize business performance results.