Cybercrime gets so much attention and coverage from the media that there is a danger of its being perceived as a kind of familiar, omnipresent and inevitable ill force that everyone simply needs to accept and learn how to live with. In fact, nothing can be further from the truth.
Cybersecurity is a complex issue and it can only be ensured if businesses and individuals appreciate that they themselves have to accept a large part of the responsibility for it, because neither governments and law enforcement nor IT professionals can be relied upon to provide adequate protection.
It is now essential but no longer sufficient to understand and follow the basic rules of cyber-hygiene, as cyber-criminals constantly find new and inventive ways of perpetrating crime, at many different levels. This report by ACCA and IMA emphasises that finance professionals need to keep an eye on the changing cyber-threat landscape and be wary of knowledge gaps. A ‘head in the sand’ attitude is not a viable option.
Right at the heart of this is the issue of clients’ trust, which finance professionals have to keep, no matter what. For as long as cybercrime remains a threat to the trust that clients and customers have in finance professionals and companies, the future of accountancy depends on cooperation across the profession to help combat, and defeat, the ‘enfant terrible’ of crime.
Ng Boon Yew
Executive Chairman Raffles Campus Pte Ltd and Chairman, ACCA Accountancy Futures Academy