Executives need to look beyond “baseline” concerns about cybersecurity and ensure they consider the “human element” and broader geopolitical risks, say advisers.
Executives need to look beyond “baseline” concerns about cybersecurity to consider the risks posed by insiders with malign intent and geopolitical forces, according to a specialist team of national security advisers.The “human element” was as important as the more well-publicised cybersecurity threat, said McGrathNicol partner Sam Boarder.
Mr Garnaut, along with McGrathNicol’s head of advisory Matt Fehon, are the co-founders of the firm’s fast-growing national security team which now has 20 specialist analysts and researchers, including six graduates, and expects to write about $5 million in work this financial year.“The security situation has really evolved over the past year. In the beginning, our work was quite operational, the ‘know your customer’ type of due diligence inquiry,” Mr Garnaut said.
“This is where the insider risk and [countering foreign interference] skill sets are applied, and together with cyber we are looking at the threats to a business or the impact on operations that the complete national security lens reveals,” he said.“We’ll ask ‘how are you vetting people?’ With our enhanced capability, and once the executives understand how deep we are able to go, they send the details of a couple of people or a couple of suppliers and we do our enhanced due diligence.
“This sets us apart in as far as what we do, without the threat of influence in the advice we are providing and the work we do.”
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