Page 87 - Cyber Defense eMagazine June 2024

Why the MoD Breach Calls for a Cybersecurity

Overhaul

By Martin Greenfield, CEO, Quod Orbis

The recent cyber attack on the Ministry of Defence, which compromised the personal information of UK
military personnel, serves as a stark warning for organisations across the globe and reinforces the urgent
need for heightened vigilance in the face of an increasingly complex cyber threat landscape.

Businesses, regardless of their size or industry, are vulnerable to these threats, which are estimated to
cost organisations a staggering $1.2 trillion in theft and damages annually by 2025 (about 1% global
gdp). To put this figure into perspective, if cybercrime were a country, it would have the third-largest
economy in the world, behind only the United States and China.

Many companies face challenges similar to those encountered by government agencies, including silos
that hinder effective communication and collaboration between departments and with external partners.
Breaking down these barriers and fostering a culture of collaboration is crucial in order to proactively
address the evolving threats posed by cyber adversaries.

Businesses must recognise that investing in robust cybersecurity measures is not merely an IT concern
but a strategic priority for the entire organisation. By taking decisive action to bolster their defences,

Cyber Defense eMagazine – June 2024 Edition 87
Copyright © 2024, Cyber Defense Magazine. All rights reserved worldwide.