Joining us on today’s Inside Automotive is Pete MacInnis, CEO of eLEND Solutions and Gary Guthary, the Chief Security Officer for eLEND Solutions. We want to get their take on the CDK Global cyberattack that happened last week.
Takeaways
- Pete MacInnis emphasized the importance of a proactive approach to cybersecurity, noting that their company has invested significantly in security measures and created a designated position for overseeing security. He highlighted the need for a strong security culture within the organization, driven from the top down. This involves setting up policies and procedures and ensuring their enforcement and continuous improvement.
- Gary Guthary stressed the importance of thorough vendor assessment and management. Dealers should evaluate who they’re sending data to and understand the scope and sensitivity of that data. He advised requesting compliance reports from vendors and assessing their security practices. Dealers should also classify their data and evaluate the risks associated with different types of vendors, ensuring that those handling critical data have robust security measures in place.
- The discussion highlighted the need for dealers to review and understand their insurance coverage related to cyber incidents. MacInnis described the challenges of dealing with insurance companies and the importance of having appropriate coverage. Guthary added that having a comprehensive incident response plan is crucial, as it enables a swift and effective response to any security breach, minimizing potential damage and maintaining customer trust.
Check out our full coverage of the CDK cyberattack here.
"Everybody's vulnerable. The key is being prepared for it and having an appropriate incident response plan in place so that you can effectively, quickly, and thoroughly address the situation." – Gary Guthary.
