Business Cybersecurity Strategy

In the last decade there have been a growing number of cyber-attacks on business. 

A huge range of organisations and companies around the world have been affected by the WannaCry ransomware cyber attack, described by the EU's law enforcement agency as "unprecedented".

From "cyberwar" to "hacktivism", there have been some of the major cyber-attacks over the past 10 years. The Petya ransomware attack which took place in June 2017 paralysed thousands of companies worldwide, and this attack reinforced the new EU cyber legislation. 

Firms that are breaching the EU’s General Data Protection Regulation (GDPR) next year could be fined up to €20m (£18m). 
This new law is now beginning to make cyber security a crucial issue for all businesses. 

However, we have found that on average, while 93% of businesses surveyed regard it as important, only 56% have established a formal cyber security strategy.

Business Responsibility
The Board is ultimately accountable for the protection of corporate systems. Therefore, they need to develop a cyber security policy, regularly audit their IT systems, educate their staff, review supplier contracts and incorporate about cyber insurance.

Analyse the Risks 
Directors need to ask themselves and all Board members: how confident are they that their business information assets are protected? Who might compromise their security? What forms might the threat take? What effects could an attack have? Have they had analysis of their business’s systems and had a report completed and how long ago was this done?  

Completing this work will help your business to implement suitable controls and determine what good practice looks like. Repeat the procedure regularly, continually reassessing the effectiveness of your measures. If a third party manages your IT services, review your agreements with it and ensure that those handling your data also apply these controls.

Understand and Follow the Law
Ensuring that your business follows the strict data protection principles outlined by the Information Commissioner’s Office (ico.org.uk) and enforced by the Data Protection Act 1998 will help to shield it from attacks, prosecutions, fines and reputational harm. 

These stipulate that the data held and processed by your firm must be kept securely; be used fairly and lawfully for specific, limited purposes; and not be moved outside the EEA without adequate protection. 
Also, planning and implementing the changes that your firm needs to make to comply with the GDPR now will ensure its readiness for the legislation when this comes into force in 2018.

Getting the Fundamentals Right
Applying basic, effective measures to protect your company’s systems will mitigate many of its cyber risks. You should download and install software updates as soon as these become available, as they often contain security patches. 
Similarly, use strong passwords; delete all suspicious emails, which could contain malware or be phishing attempts; and always use up-to-date anti-virus software.

One of the most crucial measure is to train all staff in these basics and keep them abreast of the latest threats. Human error is often at the root of a breach, the mere opening of an email attachment by an unwitting employee could cause one. 
You therefore need to develop a security-aware culture. The government’s Cyber Essentials scheme sets out five controls that would help to reduce cyber-attacks on your company.

Cyber Security Insurance
Insurance is not yet widely viewed as a cyber security measure. Indeed, only 22 per cent of business we have spoken to have taken out such cover for their firms. 

But products in this area can insure against a range of risks, including network security liability, data and software damage, business interruptions and reputational harm. 

Although some events, including the theft of intellectual property, remain uninsurable because the associated losses are hard to prove and/or quantify, insurance is likely to feature heavily in any effective cyber strategy in the near future.

Cyber Audit 
We think that the UK should take more of a lead in this area and that the UK government should have standards that should be implemented to enhance Cyber Essentials with a Cyber Audit regulation, which we think is very important once the UK leaves the EU.

The new Cyber Essentials should include a Cyber/IT Audit at least twice a year at unannounced times, training of staff four times a year using on-line training sessions and cyber security insurance policy which takes into account the GDPR regulations along with Cyber Essentials and a checking cyber Audit and all of this would  reduce the cyber security risks and should reduce the cost of a business cyber insurance policy. 

Please contact: Cyber Security Intelligence for more information.

Image: Alpha Stock Images / Nick Youngson

 

« The GDPR Deadline Is Near & Business Is Not Ready
Infraud Cybercrime Site: Dozens Arrested »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

Resecurity

Resecurity

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

BackupVault

BackupVault

BackupVault is a leading provider of automatic cloud backup and critical data protection against ransomware, insider attacks and hackers for businesses and organisations worldwide.

North Infosec Testing (North IT)

North Infosec Testing (North IT)

North IT (North Infosec Testing) are an award-winning provider of web, software, and application penetration testing.

SecureMe2

SecureMe2

SecureMe2 ‘s mission is to make organizations more responsive to digital threats by deploying smart technology in a highly accessible way.

Sopher Networks

Sopher Networks

Sopher is a secure communication and collaboration platform for business and personal use.

GlobalPlatform

GlobalPlatform

GlobalPlatform’s specifications are highly regarded as the international standard for enabling digital services and devices to be trusted and securely managed throughout their lifecycle.

SIRP Labs

SIRP Labs

SIRP is a Risk-based Security Orchestration, Automation and Response (SOAR) platform that fuses essential cybersecurity information to enable a unified cyber response.

VariQ

VariQ

VariQ is a premier provider of Cybersecurity, Software Development and Cloud services to federal, state, and local government.

Everbridge

Everbridge

Everbridge provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to keep people safe and businesses running.

Reflectiz

Reflectiz

Reflectiz empowers digital businesses to make all web applications safer by non-intrusively mitigating any website risks without a single line of code.

Appsian Security

Appsian Security

Appsian provides powerful solutions that help organizations take control of their business critical data and financial transactions.

Acrisure

Acrisure

Acrisure is powered by the best of human and high-tech and offers insurance, reinsurance, real estate, cyber and more solutions to millions of clients around the world.

Primary Guard

Primary Guard

Primary Guard provides IT solutions and computing technologies that help minimize impact from cyber threats, improve business efficiency and maintain essential functions during or after a disaster.

One82

One82

Serving emerging small and medium-sized businesses in California and neighboring regions for over 20 years, One82 has established itself as the most dependable provider of IT support services.

SEK Security Ecosystem Knowledge

SEK Security Ecosystem Knowledge

SEK helps companies in the complex path of cybersecurity; in the analysis, detection and prevention of digital threats.

WPScan

WPScan

With WPScan, you'll be the first to know about vulnerabilities affecting your WordPress installation, plugins, and themes.

CyAmast

CyAmast

CyAmast is an IoT Network security and analytics company that is changing the way enterprise and governments detect and protect networks from the pervasive threat of cyber attacks.

Information Security Society of Africa – Nigeria (ISSAN)

Information Security Society of Africa – Nigeria (ISSAN)

The Information Security Society of Africa – Nigeria (ISSAN) is a not-for-profit organization dedicated to the protection of Nigeria’s cyberspace.

Foresights

Foresights

Foresights is a Nordic company utilizing advanced intelligence tradecraft and extensive cyber security capabilities to deliver services and advisory tailored to our client’s critical requirements.