Cyber security comprises technologies, processes and controls that are designed to protect systems, networks and data from cyber attacks.
Effective cyber security reduces the risk of cyber attacks, and protects organisations and individuals from the unauthorised exploitation of systems, networks and technologies.
What are the consequences of a cyber attack?
Cyber attacks can disrupt and cause considerable financial and reputational damage to even the most resilient organisation.
If you suffer a cyber attack, you stand to lose assets, reputation and business, and potentially face regulatory fines and litigation – as well as the costs of remediation.
The UK government’s Cyber Security Breaches Survey 2017 found that the average cost of a cyber security breach for a large business is £19,600 and for a small to medium-sized business is £1,570.
The cyber threats organisations face
Although larger organisations tend to have a realistic appreciation of the cyber threats they face, many small to medium-sized enterprises are unclear about the ways in which they’re vulnerable, and as many as 45% mistakenly think they’re not a viable target.
In fact, all Internet-facing organisations are at risk of attack. And it’s not a question of if you’ll be attacked, but when you’ll be attacked. The majority of cyber attacks are automated and indiscriminate, exploiting known vulnerabilities rather than targeting specific organisations. Your organisation could be being breached right now and you might not even be aware.
Creating a solid cyber security foundation
The most effective strategy to mitigate and minimise the effects of a cyber attack is to build a solid foundation upon which to grow your cyber security technology stack.
Solution providers often tell their clients their applications are 100% compatible and will operate seamlessly with the current IT infrastructure, and for the most part, this is true. The problem arises when we start adding IT security solutions from different manufacturers regardless of the granularity of their configuration settings – technology gaps will always be present.
And technology gaps will always appear for one simple reason: developers will always keep certain portions of their code proprietary as part of their competitive advantage. Hence, true compatibility and interoperability may only be 90%. These are known as technology gaps. It is through these gaps that attacks usually occur.
A solid cyber security foundation will identify these gaps and propose the appropriate action to take to mitigate the risk of an attack.
A solid foundation provides organisations the confidence to build their cyber security strategies.
How we can help
IT Governance has a wealth of experience in the cyber security and risk management field. As part of our work with hundreds of private and public organisations in all industries, we have been carrying out cyber security projects for more than fifteen years. All of our consultants are qualified, experienced practitioners.
Feel free to contact E-SPIN for cyber security infrastructure and application security, infrastructure availability and performance monitoring solution.
2. Cybersecurity Predictions for 2018
3. 5 Ways To Improve Your Small Business Cybersecurity