Page 79 - Cyber Defense eMagazine Special RSA Conference Annual Edition for 2022

Not Slowing Down

The Continuous Threat of Cyber Misconduct and its Impact on Global Industry

By Kimberly Patlis Walsh, President and Managing Director of Corporate Risk
Solutions (CRS)

In the lead up to Russia’s invasion of Ukraine in February, the FBI and Department of Homeland Security
issued warnings of urgent cyberattack threats against U.S. and Ukrainian governmental and commercial
networks. As recently as April 18 a top U.S. cybersecurity official told “60 Minutes” that Vladimir Putin
th,
likely would resort to digital warfare resulting in a cyberattack on American targets. These warnings
highlight the dire circumstances being faced worldwide as the Russian invasion continues to cause
significant damage to Ukraine’s internet infrastructure, promulgating the need for coordinated and bold
responses.

But, putting politics aside, the reality is any business that interacts with and/or depends on the internet is
a target, regardless of size. Cyber criminals’ methods have become increasingly more sophisticated,
and their ability to launch IT-directed attacks occurs with seeming impunity. As a result, the negative
repercussions for businesses cannot be overstated. Indeed, potential targets are no longer limited to
those that have personally identifiable information, personal health information or customer credit card
data. Some of the largest cyberattacks over the last two years have not involved the mining of such
information at all. Rather, these attacks have either shut down or materially interrupted vital infrastructure,

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