Cybercrime

The Growing Threat of Cybercrime

The need to build a cyber-ready business model is more relevant than ever.

As cybercrime damages are expected to cost the world over €4 trillion by 2021, businesses and Governments globally will spend over €850 Billion annually over the next five years, from 2017 to 2021 (Cybersecurity Online, CSO, 2018). Cybercrime has also increased from number ten to number four in the list of CEO’s major concerns in 2017 (PwC, 21st Annual Global CEO Survey 2018). Responding to these growing market requirements, Scutum’s CyberSecurity and CyberDefence business unit is focused in developing in-house technologically advanced Artificial Intelligence solutions to SMBs in particular, as part of the change towards the digitalisation to move the 80 percent of analog surveillance towards Internet Protocol.

 

Reorienting security architectures from devices and perimeters to roles and data

 

Protecting its intellectual property, critical data and its daily operations from cyberthreats are imperative imperatives for Government and businesses of all sizes and adapting to new forms of cyber risks require a different and flexible approach to build internal resilience.

 

Looking at key trends such as increased  online activities; data-driven operations; interconnectivity of devices (IoT – The Internet of Things) combined with higher levels of cybercrime due to its impunity and anonymity – Malware spreading is becoming more sophisticated and increasingly difficult to trace without specialised know-how.

 

In this context, organisations can take the following steps to ensure the protection and stability of their operations:

 

Evolve the existing infrastructure with current safety standards (Compliance, scalability, adaptation to new risks and industrialisation);

 

Rationalise technologies used throughout the organisation while moving towards higher levels of certification in Safety, Business Continuity and Resilience;

 

To be able to operate in a secure, permanent and regulatory way

 

Have an infrastructure capable of dealing with the challenges of accelerating the digitisation of services and implementing the necessary resilience that results

 

The above initiatives are recommended to anticipate possible cyber risks but it is also essential to engage professional support to prevent cyber attacks that can pose severe consequences to the finances, reputation, data and operations of organisations.

 

Are you ready for GDPR

GDPR Overview & Impact

The GDPR has been applicable since 25th May 2018, bringing with it the newest standards and requirements.

About the GDPR (General Data Protection Regulation)

GDPR is the EU law that replaces the 1995 Data Protection Directive, which was until until 25th May 2018, the main standards for processing data in the EU. GDPR intends to heighten several rights for: Individuals – Who now have the right to demand companies disclose and or delete their personal data from a database. And Regulators – Who can now legitimately hold companies accountable for data protection breach across all EU member states and associated countries.

Harmonisation Across EU

  • GDPR Replaces the European Data Protection Directive which was implemented inconsistently in European countries
  • Automatically binding and will harmonize local laws

Wide Territorial Scope

  • GDPR Applies to any organization that collects or processes data on EU citizens
  • The location of the organizations is irrelevant to require compliance with the GDPR

Strong Enforcement

  • Local countries’ Data Protection Authorities are responsible for implementing the GDPR and ensuring that requirements are followed by organisations

High PenaltiesA warning only in cases of first and non-intentional non-compliance

Regular periodic data protection audits

A fine up to 20 million EUR or up to 4% of annual turnover for violations of basic data protection principles, data subject rights, and data transfer requirements

The Scutum Group’s GDPR Compliance Roadmap

Internal and External GDPR Compliance at the Scutum Group.

With an in-house Data Protection Officer (DPO) and a Cybersecurity team, the Scutum Group has taken several protective measures to comply with GDPR and continue to safeguard the privacy and security of data collected from customers, prospects, suppliers and employees.

Brexit

Brexit And The Security Landscape

Further interconnectivity and diplomacy will be required between the UK and France in particular to tackle the evolving threats from terrorist attacks, rising economic inequality that could lead to crime and violence, as well as the refugee camps in Calais, which poses extra pressure on security to local authorities, businesses and individuals.

Brexit & The Security Landscape

The European Union has benefited from high levels of peace, prosperity and an increase in life expectancy. But there also growing concerns in many EU countries over terrorism and migration. There are also concerns about bureaucracy (as all diverse member states must agree when approving proposals and reforms), differing tax systems, growing public debt, and sluggish economic growth in comparison with the rest of the world in 2017.

The UK’s departure from the European Union, expected to happen on 29th March 2019, has thrown up a host of issue-specific British industry and society. A no-deal agreement could lead to increased prices on goods, services, job losses, reduced foreign investment, difficulties for businesses in finding labour and many other adversities. And in this context, the risk and security industry is therefore of heightened importance.

Security and Defence

It is imperative to focus on sustaining the existing levels of safety and defence collaboration between the UK and the EU to safeguard a smooth transition period. This means ensuring that legislation such as the recent GDPR (The General Data Protection Regulation 2016/679), European Arrest Warrant and access to Europol, Prüm Convention on DNA data and the European Criminal Records Information Exchange System (ECRIS) are fully accessible by the UK going forward to continue to deter criminal activity.    

Further interconnectivity and diplomacy will be required between the UK and France in particular to tackle the evolving threats from terrorist attacks, rising economic inequality that could lead to crime and violence, as well as the refugee camps in Calais, which poses extra pressure on security to local authorities, businesses and individuals. The good news is that the Anglo-French relationship has been strengthened by a milestone summit in June 2018 between British Prime Minister Theresa May and French President Emmanuel Macron, building upon the 50-year defence deal (Lancaster House agreement of 2010).

 

The Scutum Group is experienced in managing and predicting different kinds of risk, protecting people, data, infrastructures, and goods as one of the leading safety and security companies in Europe, originated in France. The UK is a key business destination and it’s also Scutum’s second largest market outside France, representing 24 percent of our turnover, where we also employ nearly 300 employees around the country. We certainly believe that there will be challenges following the transition phase, with an enormous amount of regulations, trade agreements, borders and the willingness of the European Commission to ‘make an example out of the UK.’

 

Nonetheless, the UK is the second largest GDP Per Capita in Europe after Germany and is predicted to still be in the 10th position in the global economy by 2050 as emerging economies (China, India, Indonesia, Russia, and Brazil) step ahead (The World in 2050 by PwC, 2018). With this forecast, we also remain positive that a deal that benefits both the UK and EU member states will be sought after and achieved.

 

We aim to take a balanced outlook on Brexit which, as an unprecedented scenario, offers threats but also unforeseen opportunities, like the technologies of tomorrow such as Artificial Intelligence that we have started to embrace and incorporate into our business processes in order to predict different kinds of risks to protect people, data, infrastructures, and goods.

 

Read the ‘Brexit & The Security Landscape’ Article on ‘Info Magazine’, September 2018 edition, from the French Chamber of Great Britain.

 

Hatching Innovation, Info Magazine, French Chamber of Great Britain