In today’s interconnected world, cyber attacks are wreaking havoc on organizations around the globe. No entity is immune, and cybercrime targets are found in every industry sector from retail to banking to government. Media reports of the staggering number of increasingly sophisticated cyber attacks attest to this trend, and more recent events have dwarfed earlier hacking incidents.
In February, the Obama Administration finalized a key initiative to craft, pursuant to an Executive Order, a Cybersecurity Framework aimed at helping U.S. critical infrastructure owners and operators prepare to tackle cyber threats. Since the Executive Order was issued in early 2013, there has been significant activity by the government to take measures designed to prevent or mitigate cybersecurity events. The European Union also has taken action to respond to the serious threat posed by cyber criminals.