Boards Should Think of Cyber a Bit More Like Bank Robberies, Former AT&T Security Chief Says
‘Just like bank robbery, you can’t say get rid of (cyber risk) and make it never happen.’
- Steven Norton for Wall Street Journal November 17th, 2017
- Source: https://blogs.wsj.com/cio/2017/11/17/boards-should-think-of-cyber-a-bit-more-like-bank-robberies-former-att-security-chief-says/?mg=prod/accounts-wsj
Ed Amoroso is a distinguished research professor of computer science and engineering at NYU Tandon.
Corporate boards should think about cybersecurity risk as banks think about bank robbery: a relatively common risk that must be managed. “Just like bank robbery, you can’t say get rid of (cyber risk) and make it never happen,” said Ed Amoroso, former chief security officer at AT&T Inc., during a talk at the NYU Tandon School of Engineering on Thursday. While bank boards know there are a number of bank heists (there were more than 4,000 incidents at federally insured financial institutions in 2016, according to the FBI), they don’t expect to eliminate them completely. Corporate boards should begin to think about cyber risk in similar terms, said Mr. Amoroso, now CEO of TAG Cyber LLC.