Five things TMT executives need to know
Our recent report, A triple threat across the Americas highlighted the overlapping fraud, non-compliance, and cyber attack challenges that confront businesses across all sectors today. This follow-up piece reviews the dangers facing telecoms, media & entertainment, and technology (TMT) companies, and outlines five things that sector executives need to know:
- TMT companies face predictable fraud challenges related to their heavy use of information and communication technology but need to remember other vulnerabilities too.
- The sector’s confidence in its anti-fraud policies may be misplaced.
- TMT leaders would be well served to remember the reputational risks of non-compliance and due diligence when making investment decisions.
- Sector cyber-defenses seem insufficient in the face of a growing, and increasingly diverse, challenge.
- TMT actively addressed the cyber-risks of working from home, but most executives are now concerned about the ongoing challenges of hybrid working.
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Fraud, cyber attacks, and other threats are on the rise. To serve the needs of customers, employees, suppliers, and society, prevention, detection, and responsiveness should be top of mind for TMT companies. Those who remain focused on these areas not only will protect their organizations’ and customers’ sensitive information but also will build trust and create a competitive advantage.
Mark Gibson, National Sector Leader for Technology, Media, and Telecommunications (TMT), KPMG US
