You should be concerned about the security risks facing your company. Most business leaders seem to have decided to approach the risk of a breach by basically acknowledging that they will be eventually breached, so let’s just try everything we can to reduce the risk and how we will deal with the PR issues when it happens. Your business needs to acknowledge the need for a information security program, so you can significantly reduce the risk of a successful attack. You should also begin deciding how you will respond to an attack.
You need to understand what your business stands to lose in the event of a successful attack. Depending on the scale of the breach and the size of your business, the impact could be catastrophic. What is a risk from a successful attack?
- Data Compromise – Loss of customer or vendor data crucial to your business operations.
- Loss of intellectual property – You might have unique business data or knowledge that makes your business unique in your market segment, and that edge would be lost if the data is published on the internet.
- Government or Regulator Fines – Breaches could lead to massive fines from business regulators and the government.
- Lawsuits – Lawsuits from clients or business partners could lead to an unrecoverable financial situation.
- Brand Identity – if people can’t trust your business to protect their data, they may move their business to your competitor.
If a hacker gains unrestricted access to your entire business infrastructure, you could experience some or all of these issues and it could take months (or years) to fully recover. It is also possible that the financial impact will be so severe that your business will never recover from a breach. As the risks to business security grow more sophisticated, the need for your business to be at the forefront of security initiatives is even more important.
Steps required to address this concern:
- Focus – Creating a business agenda that focuses on preventing and responding to attacks is essential.
- Build Walls – Segmenting your network to make successful attacks more difficult and easier to contain.
- Be Aware – Actively monitor for attacks using trained technicians and modern vendor tools.
- Discuss – Include cybersecurity discussions in every project, and review established security solutions periodically as your risk profile changes with new vulnerabilities.