[BreachExchange] Tips for C-level employees when managing IT security risks

[Audrey McNeil]

http://www.bizcommunity.com/Article/196/379/172929.html

Although most companies have invested in IT security solutions focussing on
mitigating threats like viruses and malware, many fall short of addressing
more sinister risks such as fraud, identity theft and espionage.

These are damaging threats that can put a company’s reputation and business
continuity at risk and can have serious financial implications. It is only
when IT security-related risks are considered as business risks that the
relevance of addressing them with proactive, strategic and appropriate
solutions really becomes apparent – and this has to come from the top.

I believe, cyber risks should be treated as business risks and should form
part of a company’s overall risk management strategy. This has to be a
top-down drive; from C-level employees, for whom the cost of a breach or
leak is highest, to everyone else in the organisation that has access to
information systems.
Cybercrime is burgeoning rapidly, not only in volume but sophistication as
well; while 70% of threats faced by enterprises are known, 30% are unknown,
advanced threats that traditional signature-based security technologies
alone cannot tackle.[1]

Cybercriminals are also becoming far more discerning and are targeting
their attacks. Though more targeted, they often employ basic methods to
implement their attacks. These methods can include social engineering,
stealing of employee credentials, imitating legitimate software or even
using malware covered by a stolen certificate to infiltrate systems.

Ransomware, a type of malware that encrypts data and either prevents or
limits users from accessing their systems, is typically targeted at C-level
employees as well as departments dealing with sensitive information, such
as accounts and human resource departments. These types of advanced,
targeted cyber incidents are becoming more prevalent – even in South Africa.
For me, it becomes quite clear that organisations need a multi-disciplinary
approach that is aligned with their specific risk management requirements
and includes the implementation of appropriate IT security solutions,
ongoing monitoring, analysis of IT security intelligence, and employee
education.

Regardless of how expensive or robust the IT security technologies are,
they will not be fully effective unless everybody throughout the
enterprise, starting at the top, understands the risks and supports the IT
security strategy.

Advice to C-level employees


I would like to offer some advice to C-level employees when managing IT
security risks in organisations:

1. We must understand that the threat landscape has changed and keeps on
changing. With cybersecurity threats and the associated business risks
increasing, we should treat IT security risks as business risks.
Traditional, signature-based security technologies are not enough to
address these risks; don’t bring a knife to a gun fight.
2. I also believe that we should be more pro-active and prepared to avoid
reactive firefighting after a breach or leak. Consult with IT security
experts to help identify potential risks and implement the most appropriate
and effective solutions to support your risk management strategy.
3. Having been in the IT industry for over 20 years, I know that if you
don’t understand that it is impossible to predict exactly how your systems
might be attacked or threatened, you will be in trouble. I believe in an
adaptive system with machine learning and pattern recognition capabilities,
to deal with evolving threats.
4. Aim for machine/man symbiosis; use computers for their strengths, but
don’t neglect to leverage the intuition of your people. There are things a
computer can do that even the smartest person in the world can’t, but there
are things a child can do that a computer cannot.
5. Get expert advice and support to understand, defend and deal with
advanced threats like zero-day attacks.
6. In my opinion, conducting regular vulnerability assessments of your IT
infrastructure will help you to uncover the loopholes in your
organisation’s security architecture and avoid damage that could be caused
by cyberattacks.
7. More than 80% of all cyber incidents are caused by human error.[2] Make
sure all employees are trained and are informed of risks that can occur.
Companies lose money recovering from staff-related incidents, yet education
and training programmes intended to prevent these problems are limited, and
they usually fail to engender the desired behaviour and motivation. When
employees are educated about the potential risks associated with clicking
on links in emails, responding to phishing emails, connecting unsecured
devices to company IT resources or sharing access credentials, they are
less likely to put systems in danger.

I want to put organisations at ease with the fact there are various
computer-based training products available that leverage modern learning
techniques and address all levels of the organisational structure.

We must realise that every individual in the organisation using a computer
is responsible for IT security, not just the IT department. And that
cybersecurity awareness and education are, therefore, fundamental to the
effectiveness of your risk management strategy.
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