Posts Tagged Health/Medical/Pharmaceuticals

What is the Biggest Risk Businesses Face?

What is the Biggest Risk Businesses Face?

Dennis Houseknecht, VP Partner Development, Waterloo Security Ltd.

Businesses large and small have to manage risk. They invest in risk-reduction measures, including fire sprinklers, alarm systems, security cameras, and employee training programs.  The remaining risk is transferred through insurance.

What is the single biggest risk businesses face?  It is not fire. It is not break-ins, shoplifting, or other traditional crimes.  It is not floods or other natural disasters.

For the past two years, the biggest risk faced by businesses is……..Cybercrime.

Cybercrime has become more profitable than the illegal drug trade.

Who are the criminals? They are not just casual hackers or “script kiddies”. Cybercrime is perpetrated by highly organized and very well-funded criminal organizations. These are the same criminal organizations that rob banks, run illegal gambling operations and smuggle illegal weapons. Smart criminals go where the money is. The word “cybercrime” suggests something less nefarious than extortion or drug trafficking. That is unfortunate, because cybercrime is as ugly and malicious as it gets. Lives are ruined and companies are put out of business by cybercrime.

Who is helping your clients understand the risks?  Who is helping them understand the importance of investing in security?  If you don’t talk to your clients about security, who will?

As “business consultants” and “trusted advisors”, managed service providers have an obligation to their clients to identify and manage business risks.

Even the most effective preventative measures cannot eliminate all risk.  Despite investments in fire prevention and suppression measures, fires do occur. Few businesses could survive the catastrophic losses associated with a fire, so they transfer the remaining risk through fire insurance.  What about the greatest risk businesses face – cybercrime? Are our clients covered for those losses?  In a future article, we will discuss ways to transfer the risks associated with cybercrime through cyber-insurance.

Email: dhouseknecht@watsec.com or Call 1-304-906-2184.

Posted in: Security

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Remembering Our Veterans

Remembering Our Veterans

Veterans Day – A Day of Celebration, Reflection and Pride 

Veterans Day means many things to many Americans. For most of us, it is a time to think way back in history to World War I.

It’s a time to reflect 

Veterans Day is known by many different names, depending on what country you hail from. In the British Commonwealth of Nations, you might hear Remembrance Day or Poppy Day. In other nations, the original name of Armistice Day is still being used. Up until 1954, the United States referred to Veterans Day (or sometimes Veteran’s Day) as Armistice Day.  No matter what name it’s called, Veterans Day is truly a day to commemorate our veterans.

It’s also a time to reflect on that day in 1918 when World War I ended with the signing of the Armistice by Germany at the 11th hour of the 11th day of the 11th month. There is so much meaning tied up into the horrific war — and so many harsh memories.

It’s a time to honor 

So many service men and women lost their lives, not only in World War I, but in all wars. Veterans Day is a time to honor the more than 24 million veterans who fight the good fight and do so with pride and do so because they love this country of ours and feel honor bound to protect and honor her.

It’s a time to celebrate 

Veterans Day is a federal holiday where people take off from school or work to attend the parades and ceremonies in their local areas. Our veterans are honored in many different ways as a means of saying thank you for your service. New York City hosts the well-known Veterans Day Parade; Washington, DC, celebrates in a different way starting with the laying of a wreath at the Tomb of the Unknown Soldier and having multiple opportunities throughout the day for people to show their appreciation to vets. There’s even a first-of-a-kind basketball game on the USS Carl Vinson aircraft carrier where tradition will be combined with uniqueness as the first–ever college basketball game is played in San Diego with President Obama and more than 7,000 people in attendance.

There’s many ways to spend Veterans Day. How are you going to spend yours?

Posted in: Events

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