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Global warning sounds over cyber security and investment

By Cameron Micallef · July 16 2019
Reading:
egg

Invest

Global warning sounds over cyber security and investment

By Cameron Micallef
July 16 2019
Reading:
egg
World Economic Forum

Global warning sounds over cyber security and investment

author image
By Cameron Micallef · July 16 2019
Reading:
egg
World Economic Forum

The digital age, which is enabling a new industrial revolution of sorts, also has a sinister undertone that investors should be acutely aware of in their regular dealings. 

In a report, the World Economic Forum stressed that cyber security is central to the mobilisation of investors worldwide. 

Martina Cheung, president of S&P Global Market Intelligence, stated: “Investors need to be able to confidently assess cyber risk with the same rigour as other risks they analyse and manage – and that ability can be met only with a standard set of principles.”

“The cyber security due diligence assessment framework is a great building block for this as it offers an industry standard that investors can use across the investment cycles to help their portfolio of companies improve their cyber exposure practices,” continued Ms Cheung.

What’s needed moving forward? 

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1) Awareness and standard approach to cyber security is needed. Currently, there is a lack of cyber security awareness and no standard approach among investors for evaluating the cyber security preparedness of a target or portfolio of companies. 

2) Cyber security due diligence. Communities have highlighted that cyber security is often not given adequate consideration in the due diligence process and assessments should be integrated in the diligence process to assess cyber capabilities. 

3) Incentive structures. The World Economic Forum believes incentive structures need to be adjusted so that accountability for cyber security is of equal importance to time-to-market. According to the World Economic Forum, finding a balance between investing in new technology and enforcing foundational security controls means investors and innovators need to understand each other. 

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Global warning sounds over cyber security and investment
World Economic Forum
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About the author

Cameron is a journalist for Momentum Media's nestegg. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leveraging their insights to grow your portfolio.

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About the author

Cameron is a journalist for Momentum Media's nestegg. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leveraging their insights to grow your portfolio.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

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