Interview with Peter Hacker, Expert in Cyber Security and Risk Thought Leader

Peter Hacker is a passionate, multi-lingual, internationally sought-after Swiss expert who thinks and acts outside the conventional cyber security box. The speaker, entrepreneur and author researches the topics digital trust, cyber warfare and digital transformation.

Peter Hacker founded Distinction.Global, a Cyber Risk Observatory that helps financial institutions (banks and (re)insurer), technology and pharmaceutical companies from Zurich to Sydney to New York to identify, control and combat cyber risks they may face. 

Cybercrime is booming and has not just military and economic consequences, but also geopolitical ones. In this interview, Peter describes hands-on the risks, challenges, opportunities and solutions for corporations, organizations and governments. He sees societies and economies in the middle of a potential powershift, massively affecting the security and stability of companies and countries. 

‘Every 35 seconds, a company becomes a victim of a cyberattack.’ These attacks become more and more sophisticated and pose an exponential threat. Cyber security and privacy are of great significance today, but setting digital trust makes the fundamental difference. The importance of establishing trust in your people, data, system and processes has never been more vital for clients and shareholders.  

Peter explains that Cyber (Privacy and Network Security) is not only an IT/Security matter anymore, it concerns everyone and is a fundamental Board and Government Topic. Today a company’s biggest asset often is intangible (e.g., data), which can turn into a liability if it is not perfectly understood and protected. With that being said, Digital Trust going forward will play a vital role in enhancing the value of companies and power of countries. He discusses the importance of effective risk management, noting that “it is not any longer a question of if you sustain a cyberattack in the future, but rather when. Even worse, too often intruders have already been in the systems for months without victims recognizing and defending the attack.”

Peter concludes what the future of cybersecurity could look like, refers to the use and importance of Artificial Intelligence, how particular attacks are becoming more sophisticated and how companies can defend, ‘Digital Trust is at risk, both from private intruders and also state sponsored actors with Cyber Risks becoming a ticking timebomb, ready to explode sooner than later.’