Apr 22, 2022
The Looming Supply Chain Threat with Felix Asare
Felix Asare and Joe Lynch discuss the looming supply chain threat. Felix is a cyber-security consultant and Founder of Premier Choice Consulting.
Key Takeaways
- Felix Asare is a cyber-security consultant and Founder of Premier Choice Consulting.
- In the podcast interview, Felix explains why cyber-hacking and cyber-terrorism is a looming supply chain threat.
- According to USA federal government and cyber-security experts, there is an increase in cyber-hacking and cyber-terrorism.
- Hackers are becoming increasingly sophisticated and they are often backed by a government.
- According to Felix, we are at risk for a security breech when a hacker has 1.) hostile intent 2.) capability and 3.) opportunity.
- While we can’t influence a hacker’s hostile intentions or their capabilities, we can limit their opportunity to hack us or our company.
- Hackers often attack personal accounts or personal electronics to gain access to unprotected phones, tablets, or computers.
- Hackers also attack smaller companies who work with larger companies. Smaller companies are less likely to invest in good cyber-security.
- According to Felix, hackers may infiltrate a server and wait for years until the right opportunity presents itself.
- Felix described the “CIA Triad” which stands for Confidentiality, Integrity, and Availability – the thing that hackers attack.
- Companies should get an annual Security Assessment that provides a security posture – including strengths, weaknesses, risks, and potential impacts. Understand where your companies “crown jewels” are and make sure they are safe.
- When companies get a security assessment, they get a “Capability Maturity Level” which is a number between 1 and 5, with 5 being the best.
- The financial and reputational risk of a hack is enormous and companies can greatly reduce their risk by using cyber-security best practices.