Cybersecurity for Business
Today’s cyber threat ecosystem is sophisticated, precarious and dangerous. Being complacent is a bad choice for businesses, as a breach can ruin their operations, their reputation, and even their continued existence. It is therefore imperative to address the need to improve cybersecurity and adopt proactive measures to reduce cyber threats. Below are 5 steps businesses should take to strengthen their cybersecurity and operational viability.
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1) Establish a cooperative structure for planning and communication with the C-Suite, CTO, CISO and CIO
When it comes to cybersecurity, the biggest gap among most business leaders is interoperable communications. One way to put it would be that corporate CTOs/CISOs are from Venus and C-Suite leaders are from Mars. They are often strangers to each other. They certainly don’t communicate in the same language and their real problems often have a different focus. This incongruity can be improved by creating a shared framework that includes communication channels and, most importantly, a shared strategy between the C-Suite and operations IT specialists.
Working together is essential, as is having a plan. The plan must specify roles from the outset and identify the company’s decision-makers. Once this is determined, the work process can begin. Board training should be the top priority of the CTO, CISO, CIO and SMEs. This involves coming up with intelligible terms for a top-down or bottom-up structure that defines the cybersecurity ecosphere. The framework should have as its main elements the establishment of governance, corporate intellectual property and data protection.
A balanced Ying/Yang formula is essential to understanding and formulating a successful cybersecurity operational plan. To facilitate operations and marketing efforts, companies need technical staff who understand industry challenges from a technical perspective, as well as executives who manage the P&L. And a clearly defined plan should align all business elements, including marketing and sales, with cybersecurity.
A collaborative approach that works must be more aggressive in assessing resilience, sharing information, and situational awareness. In terms of IT, this could involve network monitoring and integration of NextGen hardware/software technologies for the enterprise network. The CTO, CISO, CIO, and other external SMEs should calibrate the plan based on unique cybersecurity requirements. Any strategy or plan must also incorporate resilience, gap analysis, operational incident response and audit procedures.
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2) Execute Strategy: A Cybersecurity Framework for C-Suite, CTOs, CIOs and SMBs
Talking is one thing, but taking action is another. Continuing talk without action will lead to further cyberattacks. When managing crises, quick thinking and flexibility are essential, and these qualities cannot be achieved without structure. The following structure can be modified to create a workable plan, although it is not comprehensive or appropriate for every circumstance. Additionally, it can help fill some communication gaps and serve as the basis for a list of priorities in a common language for the C-Suite, CTO, CISO, CIO, and SME business team:
Set priorities and define the scope of the framework:
· Identify, define and monitor the enterprise threat environment, risks and crisis management (recognize, assess and counter threats)
· Updating security architectures (cloud, hybrid cloud or on-premises)
· “Real-time” network monitoring, horizon and threat analysis technologies
· Control and management of access and identity, including biometrics (Zero Trust objectives)
· Secure framework layers (firewall, antivirus software, payload, network and endpoint) with advanced protection
· Fortification of supply chains
· Encryption (must be quantum resistant, or if possible, quantum proof)
· Automated systems to patch network security (self-encrypting readers)
· AI/ML-based forensics (network traffic analysis, payload analysis and endpoint behavior analysis), data analytics and diagnostics
· Network isolation to protect against insider threats, botnets and malware.
· Employee awareness programs and training
· Cyber forensics and analytics audits for cyber insurance
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4) Assessing the security impact of emerging technologies: AI, quantum and 5G
Modern technologies present new security challenges for businesses. We are entering the growing 4th industrial era, which involves the integration of digital activities with our physical industries. Innovation in this area is happening so quickly and exponentially that new innovative technological developments are changing the face of the planet. To thrive in the global business environment, business leaders must understand and adapt to this digital transformation. It is also crucial to understand how new applications of technologies affect security.
Artificial intelligence (AI): One of the many benefits of AI is that it can help make more effective decisions by prioritizing and acting on data, especially in larger networks with many users and factors. Speech recognition, learning planning, and problem solving are some of the fundamental tasks that AI computers are designed to do. Although AI and ML are valuable instruments for businesses, hostile governments and malicious hackers are already using AI and AI as tools to find and exploit an organization’s cyber defenses.
Quantum computing: It’s been just over a decade since advances in physics, nanotechnology, and materials science made quantum computers an unthinkable reality. Using the unique characteristics of atoms and subatomic particles is how quantum computing works. Scientists are working to create quantum computers, which would enable completely new forms of cryptography, analysis and calculation at incredibly fast speeds. Unfortunately, the same computing capability that helps solve complex problems can also be used to compromise cybersecurity. This is because current cybersecurity protocols typically encrypt sensitive data, such as passwords and personal information, using pseudo-random numbers. However, quantum computers can break the techniques traditional computers use to generate random numbers, posing a serious risk to any organization using standard encryption tools.
5G: Faster networks with greater capacities and reduced latency or lag times will be possible for businesses thanks to 5G. For the business world, 5G will bring enormous benefits. Higher traffic capacity and increased reliability are just two of the many benefits that 5G and advanced wireless networks will offer. The ability to access broadband will empower millions of people. Unfortunately, hackers will also be able to use speed and connectivity to their advantage, enabling rapid proliferation and targeting of malware.
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4) Hire cybersecurity experts
Hiring external subject matter experts (SMEs) who are familiar with cybersecurity risk management policies, regulations, technologies and protocols is a good place to start for any business. Dealing with cybersecurity risks can be difficult and requires additional work. Always prioritize risk reduction by performing information security due diligence.
Having a strong board of directors and/or advisors is the simplest approach for senior executives to address cybersecurity knowledge gaps. Cybersecurity requires knowledge and experience. Subject matter expertise, both inside and outside the company, should be present on a board of directors. Calling on external SMEs with the ability to “think outside the box” and offer new points of view could prove very advantageous.
Navigating a wide range of architectures, systems and jurisdictions is difficult, and upgrading to new security technologies and procedures requires flexibility and scalability. When it comes to threat intelligence, technology validation and situational awareness, management can benefit from the opinions and suggestions of external specialists.
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5) Implementation of cyber hygiene
Everyone in an organization has a responsibility to practice cyber hygiene. The greatest risk remains that of humans. Cyber hygiene is a crucial element for any business or person. The fundamentals can be achieved through strong passwords, multi-factor authentication, and understanding when to click on a phish. Human negligence is the cause of the majority of successful viral infections. Maintaining good online hygiene can reduce a person’s vulnerability to hackers. Another crucial tip is to ensure you back up vital data, ideally on another device isolated from the targeted phone or computer. Cybersecurity awareness training is useful to everyone in a business or organization.
Operating securely in a rapidly changing digital environment presents many obstacles. For businesses, this means being aware of risks and reorganizing strategies to avoid cyber disasters. Industry and government have placed a lot of emphasis on cybersecurity, but these efforts have mostly been reactive and viewed as costs of doing business.
Being proactive requires the C-Suite to have a new security mindset in addition to acquiring technology and implementing compliance rules. In summary, cybersecurity should be seen as a means to ensure business survival rather than as an expense. Following these 5 practical steps to better cybersecurity is a good path for every business to take.