How did this happen? Many are wondering how one of the largest retail technology and software providers, CDK Global, was hit with cyberattacks. While we may not know the answer to that question for some time, joining us now is Mike Perkins, the Chief Information Security Officer at Northrock Security. He’s been working within retail automotive for 30 years and lends insight into cyberattacks and his recommendations for dealers.
Takeaways
- Perkins emphasizes the need for a “security-first” mentality that goes beyond mere compliance. This approach ensures that automotive dealers are not just ticking boxes for regulatory purposes but are active. According to Perkins, “The program we actually put together was a security-first that will achieve compliance because it’s very easy to achieve compliance without putting a dent in your security stance.”
- Employees are often the weakest link in cybersecurity defenses. Perkins highlights the necessity of continuous and effective training for dealership staff to recognize and avoid phishing attempts and other social engineering tactics. Perkins asserts, “Security is a layered approach… ultimately, nothing in technology will be fail-safe. So, you’ve got to rely on your people, and you’ve got to educate your people.”
- Many dealers misunderstand their insurance coverage, believing it to be more comprehensive than it actually is. Perkins advises a thorough evaluation of cyber insurance policies to understand sub-limits and exclusions, ensuring adequate protection.
Check out our full coverage of the CDK cyberattack here.
"Security isn't enjoyable for anyone. The less intrusive it is, the better, but it needs to be in place because, in the end, you're a bank. You're essentially no different than Wells Fargo, except you don't necessarily deal with cash - you deal with customers' data, right?" – Mike Perkins
