Felix Asare and Joe Lynch discuss the looming supply chain threat. Felix is a cyber-security consultant and Founder of Premier Choice Consulting.
Key Takeaways
Felix Asare is a cyber-security consultant and Founder of Premier Choice Consulting.
In the podcast interview, Felix explains why cyber-hacking and cyber-terrorism is a looming supply chain threat.
According to USA federal government and cyber-security experts, there is an increase in cyber-hacking and cyber-terrorism.
Hackers are becoming increasingly sophisticated and they are often backed by a government.
According to Felix, we are at risk for a security breech when a hacker has 1.) hostile intent 2.) capability and 3.) opportunity.
While we can’t influence a hacker’s hostile intentions or their capabilities, we can limit their opportunity to hack us or our company.
Hackers often attack personal accounts or personal electronics to gain access to unprotected phones, tablets, or computers.
Hackers also attack smaller companies who work with larger companies. Smaller companies are less likely to invest in good cyber-security.
According to Felix, hackers may infiltrate a server and wait for years until the right opportunity presents itself.
Felix described the “CIA Triad” which stands for Confidentiality, Integrity, and Availability – the thing that hackers attack.
Companies should get an annual Security Assessment that provides a security posture – including strengths, weaknesses, risks, and potential impacts. Understand where your companies “crown jewels” are and make sure they are safe.
When companies get a security assessment, they get a “Capability Maturity Level” which is a number between 1 and 5, with 5 being the best.
The financial and reputational risk of a hack is enormous and companies can greatly reduce their risk by using cyber-security best practices.