With cybercrime posing a serious threat to organizations, it is evident that a shift in the discussion is required if genuine progress is to be accomplished. But what happens if cybersecurity questions are not asked? The unsaid could have serious ramifications.
Organizations have experienced an increase in security breaches as a result of today’s rising digitization and remote work models. While network security personnel were historically responsible for preventing cyber-attacks, the board of directors is now being held accountable as guardians of corporate data.
Here’s a list of cybersecurity questions that every board should be asking.
Is there a comprehensive way to deal with cyber-related issues?
Cyber-attack analyses demonstrate that security mishaps are caused not just by technology breaches, but also by the exploitation of well-intentioned but unaware or unprepared employees. A holistic approach to cybersecurity necessitates active engagement from a number of parties in addition to powerful technology and monitoring. This includes making cybersecurity a shared responsibility for all employees and equipping them with basic threat awareness and response skills.
Is cybersecurity addressed as a risk management issue that affects the entire company, rather than just IT?
Cybersecurity has ramifications for the entire organization. It’s not simply an IT problem; it’s a significant risk for the entire company. It’s easy for boards to run the risk of believing it’s all about technology when it’s really all about culture.
Boards must consider how they will manage both people and cybersecurity. Poor security is largely due to human error. Businesses should consider phishing attacks – do employees realize the potential consequences of their actions? Do they have any idea where they might be able to get in? Do they understand how to reduce personal risk as well as organizational risk?
Is there someone on the board who knows about information security and risk management?
Multiple news platforms have started to discuss the necessity of the board of directors overseeing information security and risk management. Computer systems and data systems were formerly seen as nice-to-have, but they have now evolved into business-critical technologies. As a result, boards should be aware of their sensitive data and computer services and systems’ confidentiality, integrity, and availability. At the very least, there should be a formal mechanism (typically a formal committee of cyber security specialists) that digests the growing threat and risk landscape and makes recommendations to the board to mitigate these concerns.
When was the last time businesses had a security audit or assessment?
This may be the most critical question a board can ask, and it should be followed by the inquiry, “What did it tell businesses they need to do?” A security audit has the potential to discover vulnerabilities in the processes and system and create proposals for how to rectify them. No board should consider itself to have checked all of the cybersecurity elements unless it conducts regular audits.
What’s important is that businesses don’t stop there. They must think about the audit’s findings and what needs to be done. An audit is pointless if it isn’t followed up on.
Is the board aware of the legal consequences of cyber risks in the context of the company?
It is possible for an issue to be both difficult and complicated, which are two separate things. A complicated system could be made up of simple pieces, or a complex system might just comprise a few difficult ones.
Cybersecurity is a complicated topic. But, for the most part, it’s not difficult. The majority of cybersecurity concerns are made up of smaller, identifiable, and understandable components.
To grasp what these different pieces are, a board should ask probing inquiries. Businesses can only begin to understand the underlying dangers to the company and the broader legal aftermath by breaking the matter down into its component elements. These issues are only revealed when the board has the courage to examine the problem in depth.
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