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For every new digital technology, a corresponding ‘shipwreck’ is devised



A new law which comes into effect in just over a year’s time will mean that Norwegian businesses that fail to look after their customers’ details will risk enormous fines. “The fines are only part of the problem,” says Gaute Lien, Security Lead for Accenture Nordics.

BIGGER THREAT: According to Norway’s National Security Authority (NSM), the hacking attempts on Norwegian companies are now greater and more complex than ever. “New digital business solutions increase the need for data security within companies,” says Gaute Lien, Security Lead for Accenture Nordic.

“The French philosopher Paul Virilio stated that the shipwreck was invented at the same time as the ship,” says Gaute Lien, Security Lead for Accenture Nordics.

“It led the first professional seafarers to make charts of waterways, shallow waters and pirate seas. They learned how to stabilise their ships and made allowances for their ships’ weaknesses in exposed situations.”

Norwegian business is facing the fourth industrial revolution. Digitisation is having a growing effect on people’s everyday lives, just as the ship did such a long, long time ago.

“New digital business solutions increase the need for data security within companies. For every new digital technology, a corresponding ‘shipwreck’ is devised: a crisis scenario which can result in a data system being abused and breaking down.”

According to Norway’s National Security Authority (NSM), the hacking attempts against Norwegian companies are now greater and more complex than ever. Hackers are developing techniques faster than we can develop countermeasures, often retrieving information without being discovered.

"Customers desert out of fear"

Personal information is becoming an increasingly popular target for hackers.

From 2018, companies who fail to protect their customers’ details risk fines of up to 4% of the company’s global trade, according to the new privacy protection regulations passed by the EU parliament last summer.

“The fines are only part of the problem: security breaches often lead to customers running away.”

The Ponemon Institute has painted a picture of the situation in the banking and finance sector, showing how serious security breaches can lead to a reduction in the customer base of up to 5%.

DATA SECURITY: From 2018, companies who fail to protect their customers’ details risk fines of up to 4% of the company’s global trade. “The fines are only part of the problem,” says Accenture.

“Customers desert out of fear, searching out safer harbours where they feel there’s a greater probability of them being taken care of,” says Lien.

According to NSM, sectors such as alternative energy, agriculture and health are likely to become more exposed in the future. At the same time, the defence, marine research and satellite communication sectors will continue to be targets for intelligence-gathering entities.

In addition to preventing individual customers from deserting, investing in increased data security can ensure that a company delivers a better product.

“By investing in data security, the business gets the opportunity to employ the latest digital technology, which, in turn, benefits existing and potential customers. When end customers have confidence in new technology, their willingness to use it increases too.”

SECURITY EXPERT: “By investing in data security, the business gets the opportunity to employ the latest digital technology, which, in turn, benefits existing and potential customers,” says Gaute Lien from Accenture Nordics.

“Better to spend time on getting more passengers on board”

The Center for Strategic and International Studies estimates that data crime costs Norwegian society around NOK 19 billion a year.

“Practically every business is becoming digitised. All of them will experience their own catastrophes or abuse situations, which risk weakening confidence in the business. They are the ones who own the cargo and it is the boat that owns the security.”

Lien points out that the challenge for most businesses is related to capacity.

“A number of companies who know they’re in the spotlight of cybercriminals fail to divert enough of their resources into adequate data security.”

The security expert’s first tip is for companies to prioritise being at the forefront of development.

“Day-to-day tasks and old traditional security solutions should be automated or outsourced. This will help the business focus on those security solutions that are necessary for unlocking future growth through new technology.”

If Norwegian businesses follow this advice, Lien believes that the likelihood of shipwrecks will diminish.

“When ship and shipping lane are both secured, time can be spent on getting more passengers on board.”

“When ship and shipping lane are both secured, time can be spent on getting more passengers on board.”


Author
Gaute-Lien-headshot

Gaute Lien

Nordic Security Lead, Accenture


Gaute is the Nordic Security lead at Accenture. He has more than 15 years of experience in the area of Identity and Access, Governance and Risk Assessment Management and have well proven delivery experience in large and complex projects.

Prior to joining Accenture, Gaute was in Norwegian Defense as Security Leader / CISO. Gaute holds several Security Certifications and has been used as Trainer, Lecturer in various situations at an Architected and Strategic level including Trainer for CISA courses.