Report: Lack of Cybersecurity Training Among Staff Poses Risks for Metals Sector

A Metals Service Center Institute-commissioned study has found that the lack of cybersecurity guidelines and inadequate training of employees to identify phishing scams and other threats pose risks for most metals firms.

“With data breaches happening frequently, our members — and all companies — must be concerned about the safety of their data and honestly ask themselves if they are as well protected as they think they are,” M. Robert Weidner III, president and CEO of MSCI, said Tuesday.

“The potential damage to the company is compounded by how long it would take to be up and running again — and at what cost — and the cost of lost revenue.”

The report recommends that C-level executives should take part in the implementation of network security policies and may employ a skilled third party to help manage cyber risks.

The Boeing Center for Technology, Information & Management’s graduate students at Washington University’s Olin School of Business conducted the study for MSCI.