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Managing Increased Cyber Risk in a Pandemic

  • Cyber Insurance
The Knowledge
,
29th May 2020

A report in Time said that in Singapore more than one million people have used a telehealth app for medical help and it has made the population feel more secure about remaining at home when they are ill. In short, in the space of just a few weeks, many technologies have evolved from simply driving efficiency and convenience to becoming lifelines. As countries and economies emerge from this crisis, technology will surely play a key role in the recovery effort too.

But at the same time, our increased reliance on technology has cast a spotlight on our vulnerabilities.

Employees can create a potential one. To be sure, organisations rely on their employees to be strong links in the cybersecurity chain at all times. But right now, there is greater risk of weaknesses in the chain as so many employees are working in more relaxed settings at home and, in many cases, from their own devices. It has become all the more important for employees to use strong passwords, keep technology current with the latest security updates, and to share files using only software and systems that have been approved by their employer.

Apps and other tech services that help people connect are vulnerable too – and require organisations to closely monitor the technologies they approve for broad use. The videoconferencing app Zoom is one example. While Zoom has experienced dramatic growth in recent months – TechRadar reports it had 200 million users at the end of March, compared to just 10 million in late 2019 – it has also been plagued with privacy and security problems. In addition to reports of Zoom meetings and lessons being hijacked with offensive language and images in recent weeks, the company has faced criticism for reports that it routes video calls through China and does not provide end-to-end encryption of calls (even though it had claimed to provide such protection). A number of school districts that had been using the app to connect teachers and students have suspended their use of the app as a result.

Finally, the growing amount of vital data being shared creates its own risk. Being able to effectively accomplish tasks in an organisation requires the secure transmission of data – whether that is personal medical records, a company’s financial information, or even military secrets that, if exposed, could damage the security of a nation. Organisations of all kinds need to be aware of the security threats they face, take steps to protect their information and have an action plan in place to aid recovery if and when a breach occurs.

“While technology is increasingly critical to keeping people connected and economies moving, our risk management strategies need to evolve at the same pace,” said Davis Kessler, Head of Cyber at Travelers Europe. “That applies to not only the organisations using various technologies but also to the tech companies developing them. As they build information protection into their new products and services, they will need strong, adaptable risk management practices to oversee it and to monitor their security against emerging threats.”