MANAGING CYBER RISK IN A DIGITAL WORLD – PRACTICAL APPLICATIONS OF ZERO TRUST
In 2015, the owners of the Hatton Garden Safe Deposit scheme in London returned after the long Easter weekend to discover that a robbery had taken place and goods of an estimated value of £14m had been stolen. This felt like a crime that belonged to a previous age. When they were apprehended, the average age of the thieves was 63 and two were in their 70s. These were old-fashioned thieves; technology was not part of their modus operandi and digital transformation not in their vocabulary – a fact which was highlighted when they were ultimately identified through images captured on CCTV in public streets which they had not fully considered. They were stealing precious stones, a physical resource the value of which cannot be transformed. This is in stark contrast to most modern industries.
Digital technology has transformed the way we live and work. It provides great opportunities to address new markets, transform products, optimise the experience for employees and customers and increase opportunities for many businesses. There are very few businesses now that do not rely on technology for success. Even hotels and bars rely on internet bookings and digital payments. The convenience of digital technology unlocks many opportunities but also brings with it new complications and challenges.
Apr-Jun 2022 Issue
Microsoft