Recently, Bastion Reputation Management CEO Clare Gleghorn shared her insights on reputation and the importance of cyber security at a panel discussion hosted by the Victorian Chamber of Commerce.
Clare was joined on the panel by two experts including keynote speaker Alastair MacGibbon, the former head of the Australian Cyber Security Centre, and Eric Eekhor the principal consultant of Technology and IT at Pitcher Partners.
These were her four key insights:
1. The importance of trust
Increasingly businesses hold and are trusted to protect more and more sensitive and personal customer data. If businesses break this trust and don’t adequately protect data – it will breed animosity and severely impact reputation.
2. The importance of being prepared
Cyber crimes and hacks are increasing in both number and sophistication, and are inevitable without adequate protection. Businesses must now face the reality that cyber security breaches are not a matter of if, but when.
Businesses need to ensure that they have appropriate response plans in place and monitor the news to ensure they are up to date with developments and trends in cyber security.
3. Doing the right thing for the people whose data you hold
Doing right by the victims should always be a business’s priority when responding to data breaches. It should not be about attempting to minimise media attention or hiding information. Ultimately, media coverage will reflect the sentiment of your stakeholders and the perception of how well you protected the data and how well you managed any loss of that data.
4. Change your relationship with cyber risk and cyber security
Cyber security must be treated as a company-wide risk and not simply an IT department responsibility. It’s integral to the reputation of the whole organisation, so responsibility and oversight must sit with senior management and the Board.
Bastion Reputation Management would like to thank all those who attended the event and look forward to future Victorian Chamber of Commerce events.