ExecutiveBiz Events hosted its Supply Chain Cybersecurity: Revelations and Innovations Forum on Tuesday, during which notable cybersecurity experts gathered to dissect the historic 2020 Solarwinds attack and share key industry insights on the current preventative measures, strategic priorities and remaining cybersecurity threats that are influencing critical supply chain operations across commercial and government organizations.
Wash100 Award winner Tony Cole, chief technology officer of Attivo Networks, delivered the event’s opening keynote address, in which he discussed how organizations can learn from previous ransomware attack patterns, meet evolving cybersecurity standards and eliminate supplier risks in order to better predict, mitigate and ultimately prevent future malicious cyber attacks.
To open his speech, Cole shared a visualization of the world’s biggest data breaches from 2013 to today, organized by amount of profit loss, to provide a snapshot of the past and current threats facing the cyber landscape.
According to the IDC, nearly $134 billion will be spent on cybersecurity by next year, but Cole explained that this figure largely represents the cost of recovery after attacks occur when companies should instead be investing in preventative measures.
Analyzing the data visualization and the ongoing attacks, Cole shared, “Clearly we’re not winning. We need to do stuff differently, and we need to focus more effort in this area if we’re going to be successful in slowing and stopping these.”
Despite current advancements in cybersecurity, such as the DHS Software Supply Chain Risk Management Act which was recently passed by the U.S. House of Representatives, Cole explained that our nation’s cyber adversaries are evolving their attack strategies at a much faster speed than U.S. companies and federal agencies can keep up with.
“Today, we see many of the attacks that are taking place are using the least sophisticated means possible to accomplish their goals,” Cole said. “We haven’t seen the big gun yet because it hasn’t been needed.”
In order to effectively combat these emerging threats, Cole said, companies must adopt more strict auditing and documentation procedures with their suppliers, formally implement a supply chain risk management program and closely collaborate with industry experts involved in cybersecurity standards.
“Don’t have vendors, have partners. And with those partners, turn the rocks over and look underneath those rocks to make sure you’re comfortable,” he explained.
To hear Tony Cole’s full keynote address, including the best questions companies should ask their suppliers in order to enhance cybersecurity, visit the ExecutiveBiz Events page, where you can watch the full Supply Chain Cybersecurity: Revelations and Innovations Forum on-demand now.
On November 9th, ExecutiveBiz Events will host its Dual-Use Technology in Space Defense Forum, which will gather notable government and commercial leaders to explore how advanced dual-use technologies can be leveraged in critical space defense agencies such as the U.S. Space Force to retain a competitive advantage over U.S. adversaries in response to rapid space democratization.
Director of the U.S. Army’s Assured Position, Navigation and Timing Cross-Functional Team, William Nelson will serve as the event’s keynote speaker to share strategies, priorities and concerns as he continues working to synchronize space capability development efforts across military branches through the integration of dual-use technology.