Cybersecurity has become a major threat to businesses across a variety of industries, especially those that have legacy technology and inadequate monitoring solutions. The biggest hacks of the last few years have shown that no company or institution is safe, and the consequences for a breach are only mounting. Organizations must realize that advanced detection and protection should be priorities and take steps to stay secure with detection and response managed services.
Ruling emphasizes protection
In the aftermath of attacks at Target and Home Depot, among other big-name breaches of the past few years, a federal court ruling could make these events even more detrimental to affected firms. According to The Wall Street Journal, the Federal Trade Commission now has the power to investigate breaches and charge the affected firm with unfair trade practices. Fines can be given for problems such as lack of up-to-date cybersecurity software or an insufficient firewall. With these consequences now prominent, CEOs are more likely to focus on their data protection, right?
Survey finds lack cybersecurity alignment
Although the risks are clear, there are a number of company leaders that don’t take a heavy stance on cybersecurity. According to CSO’s “2015 U.S. State of Cybercrime Survey”, 28 percent of respondents noted that their security leaders make no presentations to their board of directors. However, 26 percent of respondents said they provide an annual presentation and 30 percent stay in regular contact with quarterly reports. To make matters worse, 42 percent of participants believe that cybersecurity is a corporate governance issue, while an additional 42 percent do not. Only a quarter of boards are actively engaged with cybersecurity efforts.
These numbers are stark, given that cybersecurity threats are growing more sophisticated by the day. When a company’s security staff don’t communicate with business leaders, these employees aren’t provided with the tools and resources needed to protect the overall organization and its information.
Appointing cyber experts to company boards
Rather than bringing in the business’ IT expert every year or every quarter, some companies are appointing a cybersecurity leader to their boardroom. The Los Angeles Times’ Paresh Dave noted that organizations no longer are just looking for people with communication and leadership skills, but someone who also has cybersecurity knowledge. This type of person could help address protection risks, mitigating the costly losses involved with data breaches.
“Depending on how critical their IT network is to them, absolutely, having someone on the board can shift the dialogue,” Parsons Corp CEO Charles Harrington told Dave. “Cyber finds a way onto our agendas one way or another.”
Having a cyber expert on the board will not only help place security at a higher priority, but it can also allow businesses to make better procurement choices. Turning to a DRMS solution, for example, will help quickly identify problems and notify IT before it becomes disastrous. This will help give stakeholders peace of mind that their information and their company is secure and well looked after.
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