A cybersecurity policy should be included as part of any employment agreement. In cyber risk management, the technological exposure to cyber risk is summarized by an attack surface, which is a collection of vulnerabilities that can be exploited to carry out a cyber-attack and includes unauthorized accessibility.
Recognizing the growing cyber threat landscape, many finance and risk officers are responding by increasing budget allocations for IT security programs and investing in cyber insurance. Organizations need to juggle their financial resources, personnel, compliance, requirements, and their own risks, all while attempting to shape a protection that would prove enough to safeguard their sensitive data from any potential threats. This involves complying with the cybersecurity and informational regulations in the appropriate domain.
Recent trends and cybersecurity statistics reveal a huge increase in hacked and breached data from sources that are increasingly common in the workplace, like mobile and IoT devices. Trusted, timely, actionable information about cyber threats is a critical enabler for rapid-response capabilities that support resilience in your organization’s cybersecurity framework. Your data should show focuses on taking back privacy with skills that apply across the ever-changing tactics of clever marketers, digital advertisers, and cyber criminals.
Effective corporate and information technology (IT) governance is cyber-threat intelligence driven, proactive, resilient, and communicated to all internal and external stakeholders. Social engineering cyber-attacks, to name just one example, can (and have) hit at any segment of the reporting structure, and the scope of potential vulnerabilities is so broad that staff must act as the first line of defense. As a rule, you should start developing your strategy by first considering taking out a cyber insurance policy to cover the losses and expenses that can result from this these types of attacks.
Regulations are here to stay, and with principles like ‘secure by design’ and ‘secure by scale’ you can help your organization secure its future by diagnosing, designing, delivering, and defending against cyber threats. Since both cyber blackmail and ransomware threats usually have a short decision window before either the data is disclosed or the decryption key is destroyed, it is important for organizations to develop legal, business, ethical, and tactical perspectives on these risks and issues prior to an incident.
The threats to organizations and the possibility of legal action against them is a reality that business owners have to consider. It is a critical mistake to assume that mobile device management (MDM) and mobile app management (MAM) solutions are sufficient to protect against cyber threats. Most industry professionals should be keenly aware of the latest cyber-attacks, especially the ones which resulted in major identity theft or reputational damage.
Vulnerability is a weakness in your IT infrastructure or components that may be exploited in order for a threat to destroy, damage, or compromise an IT asset. The parts of your organization that require a heightened approach to cyber risk will handle threats in one way, while other areas of your enterprise will take a different tack. Cyber hygiene is a universally preventative approach to security with many best practices that organizations can implement to enhance their security and protect sensitive data.
Want to check how your Cyber hygiene Processes are performing? You don’t know what you don’t know. Find out with our Cyber hygiene Self Assessment Toolkit: