AMP has set up a new internal cyber defence centre to detect, prevent and respond to potential cyber attacks against the organisation.
The centre, which launches this month, will be led by Elrich Engel.
Engel is currently AMP’s group head of cyber security and digital protection at AMP and acting director of architecture for cyber security and data.
Structurally, the centre is part of AMP’s broader group technology, cyber and data team.
Engel said via a LinkedIn post that the volume of cyber attacks had increased across industries during Covid-19 and showed few signs of slowing down.
“These attacks are becoming more pervasive as people realise there’s quick financial gains to be made,” said Engel.
“When it comes to supply chain, you’re only as strong as your weakest link."
AMP pointed to new research from Mimecast pointing to a 64 percent increase in the number of organisations targeted by ransomware gangs in 2020.
The findings, in part, inspired AMP to renew its focus on cyber security.
“At AMP we recently undertook a full body of work across our supply chain to establish the risk profile for each of our suppliers," Engel said.
“This resulted in contractual uplifts across the board, new assurance work and improved capabilities in how we work together moving forward.
“This will significantly bolster how we detect, prevent, and respond to the attacks we’ve seen in our industry, and see us continue to invest in pragmatic solutions, and build sustainable capability and enduring teams while managing risk.”