Operational Risk and Resilience

In a recent survey by PwC, nearly three-quarters of respon-

dents identified such a breach happening to them in the previ-

ous year. Organizations conducting electronic business were

especially at risk – 59 per cent of respondents selling through

their web-sites reported at least one security breach. Many

could not tell if they had lost revenue as a result of security

breaches. The arrival of a promoted British Standard for infor-

mation security management (BS 7799) in 1995, which defined

ten key risk controls, pushed the issue up the agenda of most

corporate boards. But in many cases, a risk management strat-

egy for monitoring and assessing information ...