- A real-life Russian hacker collective linked to a reported ransomware attack on GPS tracking firm Garmin in July that should have set alarm bells ringing in every corporate boardroom.
- Garmin confirmed it had been the victim of a cyberattack that caused a days-long outage in late July, during which users worldwide were unable to upload their fitness data from the company’s sports devices. Garmin reportedly paid a sizable ransom to get its data back.
- If reading about Garmin gave you a sense of anxiety about hidden legal and reputational risks to your own company, you’re probably right to be concerned.
- Too often, CEOs don’t get to see and react to these threats until they’ve already become a crisis—a hack or even a corruption issue coming to light in a far-flung market.
Chief Executive – Allan Matheson | September 14, 2020