As disruptive innovations and new business models transform organizations and communities around the world, their sustainability is threatened by a plethora of cyber risks. We are already a witness to one of the largest cyber-attacks recently with “WannaCry” impacting the lives of many individuals and enterprises. Indeed, criminals and nation States are increasingly attacking the technology assets of individuals, organizations and Governments, stealing and selling valuable information, and in an alarming trend, paralyzing critical infrastructure. With Governments and enterprises increasingly leveraging the Internet for mission-critical cyber security continues to remain a top imperative across the world.
Unfortunately, India Inc’s response to cyber risks has not been robust. India ranks third globally as a source of malicious activities and its enterprises are the sixth most targeted by cyber criminals. Cyber resilience is a critical boardroom imperative. The key challenge for Indian companies is that most view cyber security as an “IT issue”. Consequently, cyber risks do not get appropriate top management attention. This needs to change. The cyber threat landscape continues to evolve and presents new challenges to organizations every day. In response, organizations have learned over decades to defend themselves and respond better, moving from basic measures and ad hoc responses to sophisticated, robust and formal processes.
There are three high level components of cyber resilience:
a) Sense: Sense is the ability of organizations to predict and detect cyber threats. This can be done by simply investing in cyber intelligence
b) Resist: Resist mechanisms are basically the corporate shield to cyber attacks. It begins with assessing an organization’s risk appetite
c) React: If Sense fails (the organization did not see the threat coming) and there is a breakdown in Resist (control measures were not strong enough), organizations need to be ready to deal with the disruption, ready with incident response capabilities and mechanisms to manage the crisis
This story is from the July 2017 edition of Bureaucracy Today.
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This story is from the July 2017 edition of Bureaucracy Today.
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