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Business

VERBATIM: Cyber theft is a monumental problem

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Opening sequence

Business

VERBATIM: Cyber theft is a monumental problem

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COMING UP:VERBATIM: Cyber theft is a monumental problem

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Transcript

00:00:00
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MUSIC]
00:00:07
I think there's no bigger issue for anybody to be thinking about and no more burgeoning issue. Both for national security reasons, economic reasons, infrastructure reasons and pure theft of money. I think companies are uniquely situated to be the policemen of their networks and of their intellectual property and of their information.
00:00:26
Somebody once said and I love to quote it, we are now witnessing in the modern age, the greatest transfer of wealth in human history. And it's in part because people are stealing the intellectual property, trade secrets, and other material from good American companies. You'll still find too many companies that don't have a plan.
00:00:44
Too may companies that sort of off load this issue of dealing with a cyber threat. When it should be an issue that is thought about in the same way you think about other reaches of corporate governance and corporate risk. That is, that should be front and center for the CEO, the CFO, everyone in the C suite, the board of directors and shareholders as well