Resilience Digest July’24

In News Now

Kaspersky Labs: Russian antivirus firm leaving the US after ban

Internet Organised Crime Threat Assessment (IOCTA) 2024 | Europol

CrowdStrike outage: We finally know what caused it – and how much it cost | CNN Business

How TopEase can help compliance and Manage Risk

Why

• Software companies and digital service providers must be aware of the risk of political pressure and its financial consequences and adapt their corporate and expansion strategy accordingly.

• The use of artificial intelligence in cyberspace increases the threat severity, as AI can now deceive the weakest point of any firewall—humans—in a lifelike manner.

• The crowdstrike incident highlights the urgent need for companies to develop robust cyber resilience plans, conduct stricter security testing, and promote technological diversity to minimize IT risks.

What to Ask

• What contingency plans are in place to mitigate financial losses in case of market exclusion or heavy sanctions? How is business continuity maintained under such circumstances?

• Are your tools equally resilient to document the incident and efficiently manage the team’s work?

• Companies should consider technological diversity and redundancy to strengthen resilience and reduce dependencies.

• Did you know Topease can help you stay compliant to new cyber policies and rules?

In News Now

Saarland floods trigger debate about mandatory natural hazard insurance in Germany | Clean Energy Wire

Death toll rises as heatwaves hit Cyprus, Greece and Türkiye: Will this be Europe’s hottest summer?

Heatwave-stricken Bulgaria banking on EU help to fight fires – Euractiv

Why

• Developing resilience to risks and crises requires a holistic approach, including business continuity planning, supply chain management, employee protection, and insurance.

• Specialised tools are required to keep an eye on the complexity and multidimensionality of these events and the interdependencies of the risks.

• Extreme weather events are impacting the global North, affecting power supply, infrastructure, property, and health.

What to Ask

• What measures are in place to ensure the resilience of the organization’s infrastructure, including power systems and supply chains, against extreme weather?

• Do you have an alerting process in place that can take effect reliably and quickly to make the most of the first hour after a crisis occurs for efficient crisis management?

• Is your crisis management prepared for an eventual death of an employee?

In News Now

Chinese electric car makers hit with new European Union tariffs

The Olympic Games face a unique set of potential security threats in Paris. Organizers say everyone will be safe

Trump was struck by bullet in assassination attempt, FBI says | CNN Politics

Why

• Both examples with Russia (energy supply) and the current developments with China make it clear how important diversification is for minimising risk and for building and maintaining resilience. 

• Security threats at global and big scale events are becoming increasingly rampant.

• The Trump assassination attack raises doubts about the USA’s reliability in its leadership role and potentially impacting global security structures.

What to Ask

• How diversified is the organization’s current supply chain? Are there over-reliance on single countries or regions that could pose risks?

• Are emergency supplies available in the workplace in case employees need to shelter in place for extended periods?

• Companies must prepare for a potential increase in uncertainties and economic tensions that could be triggered by the assassination attempt and a political shift in the USA.