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Free cyber security risk ‘health check’ offered

Companies ‘of all shapes and sizes' are being offered a free cyber security risk health check by Fifth Step Bermuda.

“Cyber security is a concern for many companies at this time,” said Darren Wray, Fifth Step London chief executive officer. “There have been a number of high profile incidents that have raised awareness, and we fear that these could be the tip of the iceberg, however, and companies need to put measures in place to reduce their risk.”

Fifth Step has offices in London, Bermuda and New York, specialising in corporate governance and compliance for the insurance, reinsurance and financial services sector. Its Bermuda partner is Independent Consulting Solutions (ICS).

Mr Wray said: “As corporate demand for employees using multiple devices to connect to company networks, as well as being linked into social and professional networking sites soars; so does corporate risk and exposure, which today is recognised as never having been so high.”

Access to Fifth Step Bermuda's cyber security risk health check is by invitation — companies will need to complete an online form to be sent a code. The results of the Fifth Step Bermuda cyber security risk health check will go to the participating company individual.

In an interview this week Mr Wray, speaking from London, said: “This is a ‘health check' — it indicates where things need to be improved, and where the risk is the greatest.

“In Bermuda, in the Atlantic, we feel isolated — but anywhere an internet cable can reach, there is as much risk as anywhere else — even if it doesn't feel that way.

“What we're seeing is the risk of cyber security breaches rising. Lots of organisations have recognised their security is being breached.”

Stephen Bull, who heads the Fifth Step Bermuda team, said: “In this technological age corporate entities can be targeted from anywhere around the globe; here in Bermuda we are just as exposed as the rest of the world.

“These criminals are clever and if our systems are left inadvertently unprotected and are monitored, a breach can go on undetected for extended periods,” he said.

Mr Wray continued: “The statistics are staggering — nearly 80 percent of organisations have suffered a breach. The numbers are large. For those organisations who have neglected their security, this ‘health check' is described as ‘a good starting point.”

The Fifth Step Bermuda health check focuses on key areas such as secure configuration, information risk management, user account management and out of office working.

“In researching cyber security, what we found was that many companies just don't know which solutions to implement and conversely how best to assess their risks,” says Mr Wray. “The cyber security risk health check helps organisations to provide an area-by-area assessment to use as a blueprint for helping to mitigate corporate risk and exposure.

“You spend 30 or 40 minutes filling out a questionnaire — it's multiple choice, with five options right down to ‘don't know' and at the end you will have a report of your strengths and weaknesses, and how to go about improving things.

“We'd love people to work with ICS and Fifth Step to improve their security, but this is a free service.”

Those ecompanies who use it must register to use it. “That's to make sure we're getting real companies.

The link for the Fifth Step Bermuda Cyber Security Risk Health Check registration is www.fifthstep.com/cybersecurityhealthcheck.

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Published September 12, 2013 at 9:00 am (Updated September 11, 2013 at 7:17 pm)

Free cyber security risk ‘health check’ offered

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