Cyber-Security Risks: Impact on Global Business

Risk Group Founder, Jayshree Pandya PhD discusses “Cyber-Security Risks: Impact on Global Business” with Michael Goedker, Founder and CEO of HAKDEFNET based in Germany

 

Overview

Cyberspace has brought an increasingly tempting opportunity for criminals, activists, spies and terrorists that are interested in either making money, get noticed, cause disruption or even bring down any individual or an entity across nations: its government, industries, organizations, and academia (NGIOA) through cyber-attacks.

Cyber-crime is no longer a dark and secret phenomenon limited to just few opportunists scattered across nations. Cyber-criminals are serious professionals that are on the rise as “cyber-crime” seems to be becoming a rapid and profitable growth industry. From financial crime and corporate espionage to state-sponsored terrorism, cyberspace has now become a safe haven for all kinds of criminal activity that are very profitable.

Moreover, with the lack of integrated global security framework across cyberspace, geospace, space (CGS), and in the absence of global rules and standards, nations are allowing a free reign to this un-welcome industry. In addition, it has also been reported that the investment required for cyber-crime is insignificant, whereas the returns are heard to be great. As a result, the threat posed by cyber-crime is growing rapidly and exponentially.

When the risks seem to be very low for cyber-crimes and cyber criminals, the un-checked growth is costing the global economy billions of dollars. While there is an attempt to discuss the cost of cyber-crime and cyber-espionage, it is equally important to evaluate the damage to its victims: that is individuals, businesses, industries, nations and global economy.

For each and every entity across NGIOA, there is no escaping the blatant realities of today’s inter-connected and inter-dependent digital global age—and the complex risks it brings to each entity across NGIOA in CGS.

 


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About the Guest
Michael Goedker, is the Founder and CEO of HAKDEFNET based in Germany.

 

About the Host of Risk Roundup
Jayshree Pandya (née Bhatt) is a visionary leader, who is working passionately with imagination, insight and boldness to achieve “Global Peace through Risk Management”. It is her strong belief that collaboration between and across nations: its government, industries, organizations and academia (NGIOA) will be mutually beneficial to all—for not only in the identification and understanding of critical risks facing one nation, but also for managing the interconnected and interdependent risks facing all nations. She calls on nations to build a shared sense of identity and purpose, for how the NGIOA framework is structured will determine the survival and success of nations in the digital global age. She sees the big picture, thinks strategically and works with the power of intentionality and alignment for a higher purpose—for her eyes are not just on the near at hand but on the future of humanity!
At Risk Group, Jayshree is defining the language of risks and currently developing thought leadership, researching needed practices, tools, framework and systems to manage the “strategic and shared risks” facing nations in a “Global Age”. She believes that cyberspace cannot be secured if NGIOA works in silo within and across its geographical boundaries. As cyber-security requires an integrated NGIOA approach with a common language, she has recently launched “cyber-security risk research center” that will merge the boundaries of “geo-security, cyber-security and space-security”.
Previously, she launched and managed “Risk Management Matters”, an online risk journal and one of the first risk publications, publishing “Industry Risk Reports of Biotechnology, Energy, Healthcare, Nanotechnology, and Natural Disasters” over the course of five years. Jayshree’s inaugural book, “The Global Age: NGIOA @ Risk”, was published by Springer in 2012.

About Risk Roundup

“Risk Roundup” is an “integrated strategic security risk dialogue” for nations: its government,  industries, organizations and academia (NGIOA) in cyberspace, geospace and space (CGS).Risk Roundup is released in both audio and video format and is available for subscription at (Risk Group WebsiteiTunesGoogle PlayStitcher RadioAndroid, and Risk Group Professional Social Media).

About Risk Group
Risk Group believes that risk management, security and peace walk together hand in hand. Though security is related to management of threats and peace to the management of conflict, risk management is related to management of security vulnerabilities as well as management of conflict, and it is not possible to conceive any one of the three without the existence of the other two. All three concepts feed into each other. Risk Group believes that the security we build for ourselves is precarious and uncertain until it is secured for everyone across nations. Tradition becomes our security-so if we build a culture of managing risks effectively it will lead us to security and security will lead us to peace!

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