Cyber threat is a looming risk for all companies, given the massive surge in ransomware attacks in the last few years. With these, growing businesses worldwide have realized that they can’t afford to ignore the increasing possibility of facing one and have started big investments businesses worldwide into crisis management.
While some organizations have already faced ransomware incidents, others are already gearing up to protect themselves with an effective crisis management process. However, this is not an easy task; it presents numerous hurdles at every step, from various sources.
The biggest hurdle, by all accounts, appears to be the lack of a leadership sponsor. Clearly, the executive team will not extend support for investments or strategies for cyber security, and it will not be a priority for the company if they do not see a reason for launching crisis management for it. But in order to stay abreast with the threats, crisis management preparedness is imperative, especially since the situation may have a financial impact too.
the most crucial element when it comes to crisis management planning and putting the plan in practice, is network operation center or security operation center. The SoC needs to be a strong base for all planning and strategies.
The top leaders of the company should never lose focus on the fact that for decisions made during a crisis, the owners of the company will always have a stake in the outcome. These decisions are owned by the company and the company leadership takes responsibility of the breach as well as the damage it causes.
Organizations which do not see any major change to leadership and their operating business model, need to review their security testing process and identify any loopholes to fill, on an annual basis.
In the face of a cyber-security crisis, planning and implementation both are equally important. Merging operations, shifting to the cloud environment, VPN restructure-all these play effective roles while generating updates to any organization’s business continuity plan.
There are organizations that offer a Ransomware Readiness Assessment which helps organizational leadership identify current risks to the corporation. Of course, having up-to-date incident response and business continuity plans are part of that assessment. Outside of it, the real value comes from remediating weak cyber-security controls.
validating sustainable security controls is the long-term strategy that needs to be followed religiously. Organizations have authority to evaluate threats to them and also the vulnerabilities of the system software in use.
In the current times, CISOs need to be constantly on their toes, and keep their teams always alert to catch any signs of a cyber-threat. Creating a crisis management team that can immediately get into action and handle the losses- is what the CISOs strength is.