As cyber threats become more prevalent, cybersecurity ratings are on the verge of becoming as significant as credit scores, making failure to implement a competent cyber resilience program more critical than reputational risk. A well-thought-out cyber resilience program will not only become a competitive advantage but also imperative for long-term success.
As a result of the COVID-19 pandemic in 2020, many businesses, both large and small, embraced technology at a breakneck speed. People today live and work in a truly digital economy and society, which has enabled much of the population to work remotely and transformed company paradigms.
Data has become the lifeblood of both public and commercial sector enterprises and it is playing an increasingly vital role in ensuring that businesses stay ahead of shifting consumer demands. However, with this growing reliance come new cyber threats. Over the past 18 to 24 months, the number of cyber-attacks has increased thrice. According to a survey by Cybercrime Magazine, “Global Ransomware Damage Costs Predicted To Reach $20 Billion (USD) By 2021” ransomware attacks now occur every 11 seconds in 2021 across the globe.
Given the attacks in a variety of industries around the world, cyber threats have clearly caught everyone’s attention right now. Furthermore, disruptive cyber-attacks have damaged enterprises, many of which went unnoticed for months.
Now is the time for businesses to act in order to improve their cyber resilience. With the Internet of Things (IoT) and the arrival of 5G, the amount of data that enterprises need to secure is expected to explode.
Organizations should analyze their company’s ability to withstand and recover from a cyber-attack, rather than focusing solely on securing particular IT systems or devices.
Securing businesses against attacks
First and foremost, every company needs to understand its DNA, which is the vital component of data and mission-critical business applications that should be protected at all costs.
To protect an organization’s data, the next step is to look at a more resilient infrastructure than only backup settings. Services that let businesses transport business-critical data into an isolated air gap environment and lock it down can simplify and improve this process.
This data will also aid organizations in their recovery in the case of an attack. A true logical air gap, not only in a different location, should be inaccessible and offline, or it can still be hacked by bad actors. The data of a company is only available for an hour every few days under this model.
Also Read: Top 3 Unique Skills of a Modern CISO
Building back strong
Given the increasing number of companies that rely on digital technology, it is critical that the government and private sector continue to improve their expertise and resources in this area. Businesses can ensure that their faith in emerging technology is maintained as public and private sector organizations harness their potential to restore a more equitable economy and society by doing so.
Businesses and organizations will be more educated and prepared as a result of greater highlight to the threats of cyber-attacks and harnessing the enormous expertise that exists on the subject. It will also help them to concentrate on their post-pandemic recovery with less fear of being thwarted by cybercriminals in their efforts to “build back strong.”