Cyber Security – A Holistic Approach

No longer can cyber security be seen as a mere support function for technology infrastructure. Today, your entire business needs to play an active role in the agenda for cyber security.

A successful cyberattack can have repercussions on all aspects of organisational operations from finance through to legal and brand. The prevalence of cybercrime today is forcing businesses to reconsider the problem as more than just a technology issue, and instead view it as something that involves the wider business, including its culture.

Dr Chan, expert in cybersecurity issues and Director, Office of Graduate Studies at Singapore University of Social Sciences, says “cybersecurity is essentially a business issue and not merely a technology issue – it should be addressed as part of corporate governance.”

But it’s not only the large organisations that need to be aware of, and defend against, cyber risk. In fact, any company that relies on IT to conduct its business may be just as exposed.

“The size of the business may not be a good gauge – a better gauge may be in terms of the extent of reliance on IT and the extent of cybersecurity risk exposure” said Dr Chan.

Similarly, the nature of the company must be taken into consideration when determining its vulnerability to attack. Mr Chng, Partner and Cybersecurity Leader at EY says, “from a hacker’s perspective, all they need to do is to target small companies that have business dealings with larger organisations to eventually gain a foothold into those organisations.”

Regardless of size, it has become evident that organisations must start absorbing cyber security into an enterprise-wide risk assessment, while building out and maintaining a rigorous cyber security strategy for the company as a whole.

A holistic approach such as this is critical, says Dr Chan, “Instead of worrying about what is the next type of cybersecurity threat and putting in-place counter measures reactively in a piece-meal manner, the wiser thing to do is to develop a systematic multi-layered cyber security strategy comprising measures for prevention, protection, detection, mitigation, respond and recovery…[this]  will avoid any single point of failure. Even in the unfortunate event of a cybersecurity incident, such a multi-layered strategy can also help to minimise the extent of damage”

In addition to these measures, organisations must employ analytics and data visualisation techniques and to address the human element of cybersecurity risk in order to mitigate an attack. Defend Wise can help equip you with these techniques as well as the tools and training to help your whole business stay protected.

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