IBM’s Dan Chenok, John Lainhart: Cyber Threats Could Hinder Economic Prosperity

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cybersecurityThe growing threat of cybercrime can have an adverse impact on the economy and blunt the government’s ability to deliver public services, two IBM executives wrote in an FCW article published Wednesday.

IBM’s Dan Chenok and John Lainhart believe the government and industry must collaborate in strengthening physical and cyber infrastructure protection to avoid economic losses caused by attacks.

A recent Ponemon Institute report indicated that targeted attacks cost organizations approximately $9.4 million in brand equity, according to the IBM executives.

Chenok and Lainhart recommended that public agencies adopt a security intelligence framework that combines analytics, real-time data and human expertise to avert cyber threats.

They added that agencies should assess business and information technology risks, implement security excellence standards and use cybersecurity tools.

By doing so, “government leaders can have a better understanding of where their organization stands, devise a customized plan and bring together business insight, advanced research and technology for a secure position that enables and encourages economic development, growth and vitality,” they wrote.

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