With the high profile cyber compromises of such large retailers, such as Target and Home Depot, along with many other types of businesses, puts this topic front and center at this year’s National Association of Corporate Directors Board Leadership Conference. Michael Daniel, Special Assistant to the President and Cybersecurity Coordinator at The White House, spoke to the convening about the broad cyber-threat landscape that companies face, the global trends he is following, and the administration’s priorities for addressing cyber threats.
“Cyber-attacks are diverse, sophisticated and dangerous. A multi-faceted, wicked problem. Malicious actors are moving up the threat scale. Six years ago, digital graffiti. Today they are attempting to destroy data. Cyber security is a technology, economic, psychological, political and business problem all wrapped into one, which makes it hard to take collective action. What keeps me up at night? An attack on our financial sector that manipulates data and casts doubt on markets.”
Michael spoke about solutions. “Everyone knows that passwords are terrible. We have technologies that are more secure. We need to address the psychology of security. We have to figure out ways to design software more securely from the ground up. The internet is a physics challenge as it has borders but no interiors. It requires governments, business and others to develop relationships that aren’t regulatory, or contractual, but that are collaborative.”
While his remarks caused the room to take pause, it reinforced the importance of board oversight of cyber security. Michael, in a half hour, gave the best overview I have heard regarding this challenging and critical issue. He did close on a high note. “I’m still optimistic. Working collaboratively we can address cyber security.”
http://www.nacdonline.org/Conference/index.cfm