Cyber and Digital Hub designed for cyber preparedness
PETALING JAYA, 29 March 2017 - Cyber security is moving towards a more resilient model to keep pace with a growing digital business. It is no longer just the IT department’s problem, it has become a core business challenge to protect stakeholder’s sensitive information. KPMG’s Cyber Security professionals believe that cyber security must be front and center, bringing business context to cyber security across all levels.
KPMG recently launched its Cyber and Digital Hub located at its Petaling Jaya head office, officiated by Datuk Seri Johari bin Abdul Ghani, Finance Minister II, accompanied by Datuk Johan Idris, Managing Partner of KPMG in Malaysia. The Cyber and Digital Hub is launched for the recognition that a strong IT security infrastructure is a critical part of any cyber security program. The hub represents KPMG’s commitment to clients using cyber security to identify protect, manage, improve and increase trust, opportunities, market standing and stakeholder value.
“The KPMG Cyber and Digital Hub provides our clients with simulations of cyber-attacks, how to stay on top of cyber security threats and how we can work shoulder-to-shoulder with our clients by embracing cyber security threats as a business-led approach; into a business language that they can understand,” said Datuk Johan Idris.
“With the new guidelines issued by the Security Commission Malaysia (SC) on October 2016, capital market entities are requested to establish and implement effective governance measures to counter cyber risk and protect investors to enhance cyber resilience of the capital market.The Guidelines on Management of Cyber Risk (Guidelines), among other requirements, stipulate the roles and responsibilities of the board and senior management in building cyber resilient of a capital markets entity. The guidelines have also mandated the entity to identify a responsible person to be accountable for the effective management of cyber risk.
Leadership team of companies must take a strategic and holistic approach to cyber preparedness – not only to protect their data but to enhance the company’s agility and better position it for growth down the road,” said Datuk Seri Johari bin Abdul Ghani.“
In KPMG’s 2016 Global CEO Outlook Survey, cyber security was the top risk named by global CEOs, up from the 5th highest ranking in the 2015 survey. Despite this level of awareness and concern, 72 percent of CEOs say their companies are not fully prepared for a cyber event. The survey confirmed that 68 percent of CEOs who describe their companies as being ‘less prepared for a cyber-event’ stated that they thought the next 3 years would be more critical for their businesses,” said Datuk Johan Idris.
KPMG believes the art of cyber security is about risk management and not risk elimination. They hope that with the launch of KPMG Cyber and Digital Hub can help clients in reaching a destination in how they manage cyber security risk; a place of confidence that they can operate without being faced with crippling disruption from a cyber-attack.
Liew Yen Thien
Executive, Marketing and Communications,
KPMG in Malaysia
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Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.