Cyber security has traditionally been seen as an IT issue. It must be seen as a strategic risk management issue

20 December 2021

Cyber Security has traditionally been seen as an IT issue, confined to the realms of computer networks, software applications, and digital infrastructure. This perspective, although not entirely incorrect, often leads to an underestimation of the pervasive nature of cybersecurity risks in today’s interconnected world. Viewing cyber threats solely as a challenge to be managed by IT departments can leave organisations exposed to vulnerabilities that transcend technological boundaries. In fact, effective cyber defence requires a comprehensive approach that involves not only technical measures but also collaboration across departments, robust governance, employee education, and an understanding of the legal and regulatory landscape. By evolving from a narrow IT-centric view to an organisational-wide strategy, businesses and institutions can better safeguard their assets, reputations, and ultimately, their futures in an increasingly digitalised environment.

How would your company cope if it came under a cyber attack?

Who takes responsibility for ensuring that this never happens? That’s the job of IT department, surely?

Not necessarily.

More and more businesses are starting to understand that it’s essential that  Cyber Security must be seen as a strategic risk management issue. Not only are the business implications of a cyber breach worthy of boardroom attention, but execs and board members themselves have become a target.

Typically, cyber attackers aim to compromise and exploit a business’s network. However, more attacks are now aiming at the ‘big fish’ in the business, or those who have access to sensitive information. That would be a C-Suite or a board member, who not only has better access across the business but also works with a lot of vital business information.

With this in mind, it’s essential that boardrooms should be developing a business strategy that combats the threats –  as well as taking extra steps –  to personally secure their digital activities.

And Digicomm 360 are on a mission to support  business leaders to do this, through a FREE seminar and networking event, designed to help business leaders secure their business data, devices and people against cyber attack

But where do businesses start?

Cyber security can seem overwhelming – but with Digicomm 360 on your side, it doesn’t have to be scary!

To get things started, business leaders need to understand some of the very real potential impacts and implications for boards:

  • Intellectual property loss
  • Financial penalties, including regulatory and legal fines
  • Property losses of stock or information
  • Reputational damage
  • Loss of time
  • Administrative resources
  • Damaged client relationships
  • Impact on business operations
  • Potential legal proceedings

Understand it can happen to you

Keep in mind, the headlines of a massive nation-led data breach create noise, but the reality is it’s normally a busy exec clicking on a malicious phishing email by a scammer, not a nation-state, that leads to breaches.

Regular security training with all staff is a key element of a business’s cyber defence, however, board members and execs are not normally included. Involving board members in all training is a critical step in securing them against the threats.

Today’s C-Suite and board members need to be involved in the cyber discussion. Not only because they are a risk to the business, but because a top-down approach is the best way to ensure cyber security awareness is raised across the wider business teams.  

Work in partnership with a trusted IT partner

As cyber is regularly seen as an IT issue, many business leaders lack the awareness and understanding required to make informed decisions on the matter. However, it’s imperative that boardroom and leadership teams have the knowledge to make better decisions and protect themselves.

Digicomm’s FREE seminar will provide the foundations your need to help you develop a business strategy, add value to your organisation and protect against cyber crime.

Book your place here

 

The internet has transformed how we live and work, but protecting our critical assets is vital for the competitiveness of businesses today. Adopting a risk management approach, including support from the very top, ensures a risk-aware culture and strong policies and procedures for any cyber attack.

There is a massive difference between investing in the right tools, putting defences in place, and meaningful engagement on cyber matters. Board members need to be constantly reminded of the risks of a cyber breach, including the potential fines following the GDPR and Data Protection Act. Board members also have a duty to understand and mitigate risk. So, any cyber security strategy should include the aim to improve board-level engagement. The challenge is in presenting the risks and threats in non-IT language, so it is easily understandable at a business-level, not a technology level.

Unfortunately, the percentage of businesses that have a board representative focused on cyber remains low. However, it’s increasing, largely in part to the rising awareness of the implications of a breach and the non-stop press coverage of the latest person or business to get hacked.

 

 

Addressing the threat

Addressing the cyber threat is a foundation of risk management, so businesses who do prioritise it will get a competitive advantage.

Questions to ask to start to understand if your business is at risk of a breach could include:

  • Do we understand that board members are likely to be a target?
  • Is there a board-level person responsible for cyber security?
  • Do any of our supply chain partners put us at risk?
  • Do the board have regular contact with the IT leader to get updates on the threat landscape?
  • Do the board take an active role in cyber security policies and awareness?
  • Have our key data assets been identified?
  • Do we understand our vulnerabilities?
  • Are competitors ahead of the game compared to us?
  • What processes do we have in place if we get breached?
  • Do we have a full picture of what would happen if the business got hacked? (Share price, reputation, etc)

If the information and self-auditing questions above leave you feeling unsure about your cyber security strategy, Digicomm 360 can get your started – and then support you in putting measures in place.

Living in a digital era doesn’t have to be scary with Digicomm 360 on your side! Our FREE, informative Cyber Security seminar and networking event will help you understand how to protect your business data, devices, and people. Search ‘The Invisible Threat’ at www.eventbrite.com to register or contact us for more information.

Book your place here

 

 

 

 

 

 

 

 

 

 

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