Airforwarders Association - FORWARD Magazine, Spring 2019

Chairperson’s Corner 8 Forward Magazine Q Spring 2019 Airforwarders Association A s our businesses becomes more complex – inter- connected supply chains and systems coupled with a increasingly mobile workforce – we must increase our focus on cybersecurity. When we hear the term cybersecurity, for many the first thought is “Oh, that’s a technology issue”. And while there is truth in that, it is so much more. Cybersecurity is a compliance issue. It’s a people issue. It’s a business issue. Let’s start with the Why. Cybersecurity is a response to cybercrime. Cybercrime is defined by the Institute of Risk Management as “any risk of financial loss, disruption or damage to the reputation of an organization from some sort of failure of its information technology systems.” Most attackers engage in cyber crimes for financial gains. While the true cost is difficult to assess, reports have estimated that the annual cost to the global economy was $600 billion in 2018 (McAfee). This is a staggering number, but the impact of cyber crimes goes well beyond financial implications. Issues surrounding loss of sensitive data, loss of customers and loss of brand confidence pose serious risks to any business. According to IBM’s Cyber Security Intelligence Index, transportation was the 5 th most cyber-attacked industry in 2016. Remember the 2017 ransomware attack on shipping company A.P. Moller-Maersk? It cost the company an estimated $300 million and required Maersk to rebuild a significant portion of its IT infrastructure, installing over 50,000 new PCs, servers and software applications. But it’s not only large companies that are targeted. Small and mid-sized companies are also the focus of cyber-attacks and often have fewer resources and plans to combat an intrusion. It’s widely believed that the human element is considered to be the biggest threat to cybersecurity. When you take into account the inter-connectivity of many players in our industry, it’s easy to see that cybersecurity should be a priority for all of our organizations. AfA announced the creation of the Technology Committee earlier this year. This group is chaired by Dave Hockersmith, CEO of Trans-Soft and former AfA Board Chairman. Dave put together a talented group of individuals who will work to identify threats and opportunities that may or will affect the air and expedited freight forwarding industry. The first webinar on cybersecurity was held in late April. Stay tuned for more updates from this Committee. Regards, Michelle Halkerston Chairperson - AfA Ai r Cargo I s About People Michelle Halkerston AfA Chairman