In this episode, KYC Decoded welcomes Derek Vadala, Chief Risk Officer at BitSight, who shares his insights on the intricacies of cyber risk, technology risk, and digital risk with host Alex Pillow. They explore the evolving nature of cyber threats, from financially motivated attacks to nation-state espionage, and discuss best practices for mitigating these risks through in depth defense strategies and ongoing monitoring. Derek emphasizes the criticality of a risk-based approach to supply chain due diligence and the importance of integrating cyber risk management into broader compliance frameworks.

Key takeaways:

• Cyber risk encompasses adversarial activities, technology issues, and digital transformation challenges, each requiring distinct mitigation strategies
• Financially motivated cyber criminals and nation-state actors use different tactics but can blur lines, necessitating vigilant, multifaceted defenses
• Effective cyber defense relies on automation and layered security measures, beyond just user education
• Integrating cyber risk management with overall compliance and due diligence processes enhances organizational resilience

To learn more about cyber related risk, please check out the resources below:

• Risky business podcast
• Cyber Security Headlines podcast

To learn how you can mitigate cyber-related risk in your organization, visit our website  and feel free to get in touch - we would love to hear from you.