FOCUS 28
PROTECT YOURSELF AGAINST CYBER CRIME
by MALCOM MARSHALL C
In 2012 cyber attacks were identifi ed by the World Economic Forum as one of the top fi ve global risks. Cyber crime is inevitably high on the agenda for fi nancial services institutions and internet businesses, but can automotive executives rest easy?
yber crime has become big business. In the UK alone, cyber attacks cost companies some £27 billion a year, according to research published by the Cabinet Offi ce1
,
including £9.2 billion attributed to intellectual property theft and £7.6 billion to industrial espionage.
Several well-known automotive companies have been targeted in recent months. In June, one of the world’s largest car manufacturers announced that its corporate website had been hacked and while no sensitive customer information had been stolen, the company asked its users to check their personal computers as there was a risk that they could have been exposed to malicious software. A UK car manufacturer’s CIO recently told us that they were aware that they had already been hacked twice in 2013, “but that may well be the tip of the iceberg”.
A US Government funded study into the potential for hacking cars which reported on by Forbes in magazine in August 2013 brought to life the potential damage that can be done by breaking into in-car electronic control units.
1 Source:
https://www.gov.uk/government/publications/the-cost-of-cyber-crime-joint-government-and-industry-report © 2013 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved.
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