Two-thirds of cyber events are the fault of third-party businesses that outsource services for the victim, showing that business interruption (BI) no longer solely concerns physical assets susceptible to natural catastrophes and other disasters.
"Physical damage to buildings, machinery and transportation infrastructure is not the only potential cause of supply-chain disruption," said Rebecca Bole, Advisen's editor and director of Strategic Development in the Research and Editorial division, during the company's supply-chain cyber risk webinar.
"Large-scale cyber events hold the potential to be as damaging as a natural catastrophes. From organized crime gangs who use malware to extort money, to politically-motivated hacktivists, all the way through to the amateur teenager in his bedroom and the simple act of an employee leaving a laptop on the train — all these are potential cyber threats, and should be considered so by risk managers," she said.
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