Together, with Husch Blackwell and UMB Bank, CBIZ MHM, LLC proudly sponsored a seminar dedicated to the Manufacturing and Distribution industry on October 29th. Held at Boulevard Brewery, the seminar focused on the cybersecurity threats facing the manufacturing and distribution industry. Attendees heard from accounting, financial and legal professionals as they discussed the industry economic forecast, data breach threats to companies in the Kansas City area, vendor security and risk management.
To wrap up the seminar, special guests Chris Lamb, FBI - Cyber Investigations, and John Cowles, Assistant US Attorney – USAO, Western District of MO, focused on the current trends in cyber investigations (locally and nationally) and prevention tips.
The Manufacturing industry is important to CBIZ MHM and we are very pleased to have had several clients and guests attend the event to learn more about the security challenges facing this industry. Below, we have included the top ten takeaways from the seminar. As an additional resource, the presentation is available for download here.
- Understand the global threat – Threats to cybersecurity are increasing both in quantity and severity. From 2012 to 2013, data breaches doubled!
- Know the cost – From 2013 to 2014, the average cost of data breaches went up by more than 15%, making the average $3.5 million.
- Know your data - Know what data your company has, where it is stored and how it’s secured.
- Clean it out - Look for opportunities to eliminate old and unnecessary data.
- Use your resources – There are third party professionals who are experts in various aspects of cybersecurity, including the FBI, all of which are resources for you - use them!
- Mitigate your risk - A formal risk assessment should be performed at least annually – whether done internally or by a third party specialist.
- Get covered – Companies should consider obtaining insurance to cover cybersecurity incidents and review policies with specialists to make sure they provide adequate coverage.
- Educate your employees – 93% of employees knowingly violate cyber security policies. People are the biggest cause of security breaches. Employees need to be trained and updated on cybersecurity issues.
- Size DOESN’T matter – In fact, the smaller the business is, the easier it is to hack!
- It could happen to you – The odds of a Manufacturing company being targeted for a cyber-attack are 1 in 3. No one is immune to an attack; assume you will be targeted at some point! It is important to be proactive and have a plan in place ahead of time!
Did you miss the seminar, but want to make sure you are added to future invitation lists? Contact firstname.lastname@example.org.