Friday, March 5, 2021
Corporate Compliance Insights
  • Home
  • About
    • About CCI
    • Writing for CCI
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Articles
    • See All Articles
    • NEW: COVID-Related
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Leadership and Career
  • Vendor News
  • Jobs
    • Compliance & Risk
    • Information Security
  • Events
    • Webinars & Events
    • Submit an Event
  • Downloads
    • eBooks
    • Whitepapers
  • Podcasts
  • Videos
  • Subscribe
No Result
View All Result
  • Home
  • About
    • About CCI
    • Writing for CCI
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Articles
    • See All Articles
    • NEW: COVID-Related
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Leadership and Career
  • Vendor News
  • Jobs
    • Compliance & Risk
    • Information Security
  • Events
    • Webinars & Events
    • Submit an Event
  • Downloads
    • eBooks
    • Whitepapers
  • Podcasts
  • Videos
  • Subscribe
No Result
View All Result
Corporate Compliance Insights
Home Cybersecurity

Coalfire’s 2016 Cybersecurity Predictions

by Corporate Compliance Insights
December 21, 2015
in Cybersecurity, GRC Vendor News
Coalfire’s 2016 Cybersecurity Predictions

CEOs fired, Securing IoT and Cyber Insurance to Dominate Headlines in 2016

Westminster, Colo. – As 2015 comes to a close, Coalfire, a leader in cybersecurity risk management and compliance services, today provided its predictions for what will impact the cybersecurity landscape in 2016. Coming off of a year when “cyber risk” entered the lexicon of corporate boardrooms, CISOs and CIOs are recognizing the reality that a cybersecurity breach is inevitable.

“The lessons learned from this past year teach us that no one is immune to cyber threats. The sooner corporate Boards and executives come to the understanding that cybersecurity breaches are a very real and pervasive threat, then the hard work can begin to take preemptive measures as well as prepare an appropriate response and recovery strategy,” said Larry Jones, Chairman and CEO of Coalfire. “In 2016, businesses will continue leveraging transformative digital tools to better communicate and serve customers in more efficient, yet impactful ways. While these tools are transformative, they need to be deployed in a thoughtful and considered manner so as not to possibly put sensitive information at risk. Trust and credibility brand traits are able to withstand hacks only if businesses invest in response and recovery efforts as diligently as their investment in cyber protection.”

For 2016, Coalfire’s top three predictions are the following:

More CEOs will step down or be fired post-breach.

Cybersecurity is no longer seen as an issue for IT departments to manage. Due to the potential for reputational, financial and legal damages, more C-level executives will be held accountable for the impact of data breaches. Therefore corporate Boards will scrutinize new CISO hires more than any other C-suite positions.

“If executives do not take cybersecurity seriously and cannot demonstrate they have taken due care to protect their customers’ personally identifiable information and the organization’s intellectual property and reputation from cyber risk, then they will be looking for new jobs,” said Kennet Westby, President and Co-Founder of Coalfire. “Post-breach investigations will focus on whether there was management negligence in addressing risk and whether they were compliant.”

Mobile comes further into focus.

Mobile device management (MDM) and MDM providers will play a larger role with integrated cybersecurity strategies. The need to secure and manage risk in mobile devices comes as a result of increased use of cloud-based apps and the need to meet compliance standards, such as FedRAMP.

“More mission-critical cloud apps and the maturity of Internet of Things (IoT) are two forces that will converge at the CIO’s desk to present new challenges with enterprise mobile device management,” said Mike Weber, Vice President of Coalfire Labs. “A new breed of network endpoints will be the new entry points for cyber threats.”

Cyber Insurance offerings become ready for prime time.

There will be a larger uptick in cyber insurance as better and more comprehensive products become available globally. This gives C-level executives more ability to control and balance the cost of a breach.

“Business leaders are just now beginning to acknowledge that the potential for damages and losses from cyber risks can exceed other insurable risks,” said Tom McAndrew, Chief Operating Officer of Coalfire. “The losses from cybersecurity incidents continue to grow and companies are realizing that the full potential costs for cyber breaches are difficult to quantify. Cost considerations need to include other potentially significant direct and indirect costs such as forensics investigations, legal defense and court settlements.”

For more information about Coalfire’s cyber risk assessment and compliance services, please click here.

About Coalfire

Coalfire is the global technology leader in cyber risk management and compliance services for private enterprises and government organizations. Coalfire’s professionals are renowned for their technical expertise and unbiased assessments and recommendations. Coalfire’s approach builds on successful, long-term relationships with clients to achieve multiple cyber risk management and compliance objectives, tied to a long-term strategy to prevent security breaches and data theft.

Coalfire is currently listed as #74 in the “Cybersecurity 500 Hottest Security Companies” and was recently named one of the Top 20 Most Promising Risk Management Solution Providers.


Previous Post

Labaton Sucharow Whistleblower Tipped SEC About JPMorgan’s Illegal Mutual Fund Sales to Private-Banking Clients

Next Post

Staying Compliant When Security is in the Hot Seat

Corporate Compliance Insights

Related Posts

freelance worker on laptop at train station

Stoke Talent Launches AI-Powered Worker Classification Engine

March 5, 2021
hands holding seedling in eggshell

SEC Announces Enforcement Task Force Focused on Climate and ESG Issues

March 4, 2021
SEC emblem on building exterior

SEC Division of Examinations Announces 2021 Examination Priorities

March 3, 2021
cybernetic brain in form of human brain in cyberspace

Strike Graph Introduces First-Ever AI Tech Platform to Automate Security Questionnaires

March 1, 2021
Next Post
Staying Compliant When Security is in the Hot Seat

Staying Compliant When Security is in the Hot Seat

OneTrust offers download to demonstrate privacy management leadership
Access realtime data
Top 10 Risk and Compliance Trends

Special Coverage

Special COVID page graphic

Jump to a Topic:

anti-corruption anti-money laundering/AML Artificial Intelligence/A.I. automation banks board of directors board risk oversight bribery CCPA/California Consumer Privacy Act Cloud Compliance communications management Coronavirus/COVID-19 corporate culture crisis management cyber crime cyber risk data analytics data breach data governance decision-making diversity DOJ due diligence ESG fcpa enforcement actions financial crime GDPR GRC HIPAA information security KYC/know your customer machine learning monitoring ransomware regtech reputation risk risk assessment Sanctions SEC social media risk technology third party risk management tone at the top training whistleblowing
No Result
View All Result

Privacy Policy

Follow Us

  • Facebook
  • Twitter
  • LinkedIn
  • RSS Feed

Category

  • CCI Press
  • Compliance
  • Compliance Podcasts
  • Cybersecurity
  • Data Privacy
  • eBooks
  • Ethics
  • FCPA
  • Featured
  • Financial Services
  • Fraud
  • Governance
  • GRC Vendor News
  • HR Compliance
  • Internal Audit
  • Leadership and Career
  • Opinion
  • Resource Library
  • Risk
  • Uncategorized
  • Videos
  • Webinars
  • Whitepapers

© 2019 Corporate Compliance Insights

No Result
View All Result
  • Home
  • About
  • Articles
  • Vendor News
  • Podcasts
  • Videos
  • Whitepapers
  • eBooks
  • Events
  • Jobs
  • Subscribe

© 2019 Corporate Compliance Insights