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Reputational Risk – Cyber Attacks

It is growing increasingly difficult for businesses to know friend from foe when it comes to something as simple as reading or responding to an email from a trusted advisor. In just one incident, revealed by cyber security firm FireEye this December, a group of hackers infiltrated at least 100 businesses in the U.S., gathering sensitive data that reportedly has the potential to affect global financial markets.

According to FireEye, the group it has dubbed Fin4 has been in operation since at least the middle of 2013, and has mostly targeted businesses in the pharmaceutical and healthcare industries, and advisers to companies in those sectors. All but three of the affected businesses are listed on NASDAQ or the New York Stock Exchange.

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