Page 12 - The South China Business Journal
P. 12
PTH
What is your data protection and
cybersecurity strategy to comply with the
new law and regulation in China?
Are we informed and trained accordingly?
By Alain Joyal, Sr. Vice President, Corporate Communication, GOIP AULA Ltd.
According to recent studies and surveys, many much better position to win the marketplace and
businesses have not yet put in place a proper competently fend off cyber-attacks if they occur.
contingency plan. I came across an interesting
survey from KPMG (Consumer Loss Barometer), According to a survey conducted by KPMG (U.S.
which mentioned approximately 31% of company CEO Outlook 2016), only 26 percent of CEOs
executives and managers have not designated consider themselves fully prepared for a cyber-
a leader or person to specifically focus on attack. When asked ‘How prepared is your company
cybersecurity. The survey reports that 49% have for a cyber-attack?’ CEOs replied: Fully prepared
not invested any money into cybersecurity or data 26% - Somewhat prepared 70% - Not where we need
protection over the past few years. The big question to be/unsure 4%.2
for company heads in China is: Are we aware and
prepared for data protection and cybersecurity? In conclusion, there is no doubt that training is
instrumental in dealing with cybersecurity. Many
Just an overview on how big the cybersecurity employees may acknowledge and be aware of the
market truly is. According to a report from basics but are not trained accordingly in many
Cybersecurity Ventures, the market was worth aspects. It is imperative for companies to train
only USD 3.5 billion in 2004. In 2017, Cybersecurity employees regularly on ever-changing laws and
Ventures estimates that it now worth more than regulations. Every employee should be informed
USD 120 billion, approximately 35 times bigger of cybersecurity’s best practices, how to identify
than 13 years ago. The report also indicates by 2021, undesired software and be compliant with its laws.
costs fighting cyber-attacks will be more than USD1
trillion. Lastly, the cyber-attacks costs increased to Collaborating with industry stakeholders and
USD 3 trillion in 2016 and will reach USD 6 trillion government agencies improves understanding
by 2021.1 of developing threats. Sharing information
externally allows others to assess their own
Companies are not investing enough in security posture, expose any gaps, and contribute
cybersecurity and data protection. Although to the latest developments in policies. Is your
executives have cybersecurity and data protection company prepared to keep up with the changing
as one of their primary concerns, they are however cybersecurity climate?■
inappropriately evaluated and addressed. On the
other hand, there are businesses and executives GOIP AULA Ltd.
whom acknowledge how important it is to provide
transparency to their employees with training Hong Kong Headquarter Office
and communication. Companies that do provide Rm 1307, 13/F, Nanyang Plaza, 57 Hung To Rd, Kwun
training, communication and awareness on Tong, HK
cybersecurity/data protection successfully are in a Shenzhen Office
B4-B6, 15th Floor, Block B, Nanfang Securities Building,
1 Source: https://cybersecurityventures.com/hackerpocalypse- No. 2016 Jianshe Road, Luohu District, Shenzhen
cybercrime-report-2016/ Websites: www.goipaula.com / www.cncarecc.com
2 Source: www.kpmg.com/us/ceooutlook
10 AMCHAM SOUTH CHINA
What is your data protection and
cybersecurity strategy to comply with the
new law and regulation in China?
Are we informed and trained accordingly?
By Alain Joyal, Sr. Vice President, Corporate Communication, GOIP AULA Ltd.
According to recent studies and surveys, many much better position to win the marketplace and
businesses have not yet put in place a proper competently fend off cyber-attacks if they occur.
contingency plan. I came across an interesting
survey from KPMG (Consumer Loss Barometer), According to a survey conducted by KPMG (U.S.
which mentioned approximately 31% of company CEO Outlook 2016), only 26 percent of CEOs
executives and managers have not designated consider themselves fully prepared for a cyber-
a leader or person to specifically focus on attack. When asked ‘How prepared is your company
cybersecurity. The survey reports that 49% have for a cyber-attack?’ CEOs replied: Fully prepared
not invested any money into cybersecurity or data 26% - Somewhat prepared 70% - Not where we need
protection over the past few years. The big question to be/unsure 4%.2
for company heads in China is: Are we aware and
prepared for data protection and cybersecurity? In conclusion, there is no doubt that training is
instrumental in dealing with cybersecurity. Many
Just an overview on how big the cybersecurity employees may acknowledge and be aware of the
market truly is. According to a report from basics but are not trained accordingly in many
Cybersecurity Ventures, the market was worth aspects. It is imperative for companies to train
only USD 3.5 billion in 2004. In 2017, Cybersecurity employees regularly on ever-changing laws and
Ventures estimates that it now worth more than regulations. Every employee should be informed
USD 120 billion, approximately 35 times bigger of cybersecurity’s best practices, how to identify
than 13 years ago. The report also indicates by 2021, undesired software and be compliant with its laws.
costs fighting cyber-attacks will be more than USD1
trillion. Lastly, the cyber-attacks costs increased to Collaborating with industry stakeholders and
USD 3 trillion in 2016 and will reach USD 6 trillion government agencies improves understanding
by 2021.1 of developing threats. Sharing information
externally allows others to assess their own
Companies are not investing enough in security posture, expose any gaps, and contribute
cybersecurity and data protection. Although to the latest developments in policies. Is your
executives have cybersecurity and data protection company prepared to keep up with the changing
as one of their primary concerns, they are however cybersecurity climate?■
inappropriately evaluated and addressed. On the
other hand, there are businesses and executives GOIP AULA Ltd.
whom acknowledge how important it is to provide
transparency to their employees with training Hong Kong Headquarter Office
and communication. Companies that do provide Rm 1307, 13/F, Nanyang Plaza, 57 Hung To Rd, Kwun
training, communication and awareness on Tong, HK
cybersecurity/data protection successfully are in a Shenzhen Office
B4-B6, 15th Floor, Block B, Nanfang Securities Building,
1 Source: https://cybersecurityventures.com/hackerpocalypse- No. 2016 Jianshe Road, Luohu District, Shenzhen
cybercrime-report-2016/ Websites: www.goipaula.com / www.cncarecc.com
2 Source: www.kpmg.com/us/ceooutlook
10 AMCHAM SOUTH CHINA
