Time for a ‘Ralph Nader moment’
Influential cybersecurity thinker Becky Bace says American companies need a wake-up call. Here’s what could make companies—and citizens—finally pay attention and stop just patching the problem.
By Becky Bace
12/09/15 04:55 AM EST
If you’re new to the world of cybersecurity, it might surprise you to learn that the government and private industry have been trying to tackle the problem for almost 50 years.
Despite their efforts, the problem continues unabated, and is only growing: A 2015 study involving 252 major enterprises reports an average annualized loss of $15 million per enterprise—up more than 80 percent over the last six years. Other sources estimate the global cost of cyber breaches approaches $500 billion a year. Furthermore, a survey of global CEOs indicate that more than half now rate cybersecurity threats as having a major influence on corporate strategy.
The commercial market for security technologies is marked by a series of “silver bullet” offerings, each proposing to cure all problems and strengthen the security stance of those wise enough to buy and install them. But the level of attack and subsequent damage continue to increase.
Clearly, something needs to change. But what?
