The way to ensure the most secure cyber future is to stay ahead of tomorrow’s threats, no matter what the current laws and regulations dictate. Tech moves faster than the law – and hackers work faster than both. That’s why Jody R. Westby, CEO of Global Cyber Risk LLC, and Katryna Dow, founder and CEO of personal data platform Meeco, urge businesses to be smart and proactive when crafting their cybersecurity protections. Listen as they talk about how businesses can protect themselves and their customers, the critical areas of businesses to safeguard ahead of time, using security as a competitive advantage, and much more.

 

Key Takeaways:

[2:20] Katryna wanted an equitable data ecosystem where everyday people would have a bit more control over how their data would be used, and who would have access to it. She started Meeco, or the me-ecosystem-as a way to build an infrastructure of personal data ecosystems.

[5:50] Jody realized we needed strong cybersecurity protections put in place so that critical infrastructure data couldn’t be used against us.

[6:24] Technology has been moving faster than the laws, and Silicon Valley and tech companies have embraced the mantra to beg for forgiveness rather than ask for permission.

[7:04] The absence of clear and uniform legislation around cybersecurity and data protection has some pressing implications. First, businesses need to come up with their own ways to protect themselves and their customers.

[10:07] What is a self-sovereign identity or SSI? Katryna talks about the move to SSI’s profound impact on the security and efficiency of power tech’s operations.

[12:22] Jody says we will start seeing exclusions for paying ransomware for what they think are nation-state-sponsored attacks, and that will leave companies a lot more vulnerable. However, we have to pay attention to the three most important areas that also are the lowest scoring areas in any risk assessment: asset management, incident response, and business continuity.

[14:02] The GDPR or General Data Protection Regulation is the EU data privacy and security law.

[20:15]  Some companies are listening to what customers really want, and it's making a big impact. For example, when Apple let iPhone users say yes or no to being tracked, Facebook had the largest drop in shareholder stock value in one day.

[23:52] Operations leaders should not wait for the worst-case scenario to happen before they start protecting their companies and customers from potential harm.

 

Quotes:

• "We are in a whole new ballgame right now, and companies are really at risk. We’re not prepared.” - Jody [0:40]
• “In a data-driven world, there’s a lot of data that’s been collected about me that could actually be enhanced by data from me.” - [5:03] Katryna
• “The bottom line is when they realize that they've got their stock price and the viability of the company on the line, they'll get more attention to this topic. And that's what we need because companies do not have robust full cybersecurity programs.” - Jody  [12:22]
• “Do you want to be helping customers have better digital experiences? Or do you want to wait until you're forced to do that?” - [20:50] Katryna
• “Let's not wait for the worst-case scenario to happen before we start protecting ourselves, our companies and our customers from potential harm. Whether it comes through satellites, a third-party supplier, or your own organization, these threats exist, and with more points of entry to our systems than ever before, they're clearly multiplying. [24:35] - Francis
• “With disruption being the new normal in OPS, the time to up your cybersecurity game is now because the choice going forward is clear. You can either stay put and pay the price…or you can evolve.” [25:16] - Francis

 

Continue on your journey:

• pega.com/podcast

 

Mentioned:

• Jody Westby
• Meeco