Cyber risk is an emerging area of concern for those...
Cyber risk is an emerging area of concern for those engaged in international trade, according to the World Economic Forum’s Building Resilience in Supply Chains report (http://bit.ly/SxnuLi). “Global supply chains face a broad range of risks, from natural disasters and…
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extreme weather to economic uncertainties and the emerging threats like cybercrime,” said Sander van’t Noordende, group chief executive of management consulting for Accenture. As a result, improved information technology is one of the “four core components” of an overall blueprint for resilient supply chains, the report said. On a global level, cyber risk to supply chains has become “a priority issue,” it said. “Concern is growing about systematic attacks on financial institutions leading to reduced ability to make and receive payments. The effects would be extremely severe across industries and regions alike.” The report said the high cost of potential disruptions has led insurers to reduce coverage and increase premiums.