Universal Music and $100 million
The EBCF is about to release the very first podcast to our members, on that note please be aware a podcast is recorded the bonus is you can listen to it on a date / time which suits you. During the discussion which took the style of a pub chat, Patricia Vella, Alan Pawsey and Karen Rogers discuss crisis exercises and collaboration (more will be revealed tomorrow). With the issues that East Anglia faces, creaking infrastructure serving, and every growing population, uncertain socio-economic conditions with Brexit and technology replacing jobs (could strikes loom), increasing extreme weather conditions with floods and drought, and then the very serious and continual threat of cyber-attacks; there certainly is a lot to talk about and a lot to do. I support my comment ‘a lot to do’ with the latest example of a enormous multi-national media / film / music conglomerate certainly showing us that it clearly did not have a Business Continuity Plan in place to prevent the fire taking place in it’s studios in Hollywood containing thousands of master tapes from artists such as Soundgarden (a favourite of mine), Tom Petty, Tupac, Sheryl Cole amongst many many others. Universal late of preparation has resulted in the first, of what many be many, $100 Million lawsuit. If an organisation as large as Universal didn’t have a Business Continuity Plan in place to prepare for a prevent a fire in it’s studios, how many other large, medium and small businesses / organisations are prepared? Norsk Hydro clearly hadn’t deployed anti-ransomware or a rigorous patching policy, therefore there business continuity plan was lacking TOTAL COST SO FAR = £45 million https://www.bbc.co.uk/news/av/technology-48707033/ransomware-cyber-attacks-are-targeting-large-companies-and-demanding-huge-payments (The cost of Maersk’s ransomware attack – NotPetya stands at $300 million). The EBCF is encouraging businesses in the region to test, prepare and plan for every eventuality so they don’t end up like these two examples. I look forward to increasing my knowledge and getting to know all of you.