Blog del CCI

lunes, 6 de junio de 2016

Regulation and other balms

It is a recurring topic  -in this newsletter and in other forums-  and it is obvious, too  -to this newsletter and, I guess, to its readers-:  without the intention of falling in a “fear strategy”, the truth is that there is no better incentive for an organization to begin taking cybersecurity seriously, than having suffered, first hand, any sort of digital incident. I underline “first hand”, given that hearing it from third-parties  -as it happens to smokers regarding lung cancer-  can result an example, too; but never with the same intensity.

For such cases, in which other’s example means no incentive enough, there is  -we have pointed it out repeatedly, too-  a complementary balm: regulation. (By the way, remember that it can be internal).

Moreover, when planets are aligned almost to perfection, both circumstances  -the presence of incidents and the existence of rules given by an oversighting body-  provoke a [supposedly] more healthy effect.

That seems to be the case of the Society for Worldwide Interbank Financial Telecommunication, SWIFT, which CEO, Dutch and former McKinsey & Co. consultant, Gottfried Leibbrandt, stated last Thursday that the prospect of cybercrime is what keeps him awake at night.

The truth is that Mr. Leibbrandt reaches that sleepless condition after some nothing quiet recent months in which a series of banks from several countries (Philippines, Vietnam, Ecuador or Bangladesh), all of them customers of the international platform he rules, have been victims of millionaire cyber thefts.

All of it makes me think that, urged by Mr. Leibbrandt, not only SWIFT, but a number of banks currently using the services offered by the Belgian organization, are going to see their cyber protection framework improved, if they will to keep enjoying the advantages of the interbank transaction system. On the contrary, it could be late for such banks (and not only due to Leibbrandt’s threats).

Finally, remember that this pre-cyberwar scenario  -the most optimistics define it that way-  to which a growing, but sort-of-marketing-hype-Internet of Things adds, may be being fertile ground for experiments as the one carried out with IRONGATE and other still hidden ills.

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