We cannot allow this slow economic bleed of our economy to continue. It slows down and even reverses living standards. We simply cannot invest billions into research and development and have it siphoned from us with a few clicks. There is no justifiable reason to let this happen anymore. Smart and competent people have been sounding the alarm bells for some time, but they need more voices to back them.
Expectedly, our cybersecurity issues are growing. We say expectedly for a variety of factors including, but not limited to: size and scope of breaches, increasing costs that cannot be accurately estimated or predicted, a proliferation of technologies and abilities, and geopolitical tensions. Given current conditions, we do not see a particularly bright future if our current cybersecurity strategy remains more or less constant.
What is our current strategy? In short, it is the accumulation of a lot of expensive toys to hold together decaying infrastructure, along with a healthy dose of the putting aside or worse, ignoring, the basics. In short, we look to more technological solutions, but we avoid the single greatest problem: our decisions. The growing track record of failures demonstrates that this “technology-heavy” approach is not working.
The underlying problem with this strategy is that it is simply untenable unless there is some revolutionary technology that completely changes the landscape. And while we do think artificial intelligence and quantum computing will be game-changing, we do not necessarily believe they will solve all our problems. Poor handling and implementation of these two technologies may, in fact, accelerate our demise. Therefore, we cannot continue to throw what limited resources we have at supposed technological wizardry, fixes, and repairs when the root of our deepest problems are inherently insecure systems, poor maintenance, and social engineering. Continue reading “A National Cybersecurity Action Plan is a Serious Priority”
Frank Abagnale, one of the world’s most respected authorities on the subjects of forgery, embezzlement, cybercrime, and secure documents succinctly states the troubling environment. “The police can’t protect consumers. People need to be more aware and educated about identity theft. You need to be a little bit wiser, a little bit smarter and there’s nothing wrong with being skeptical. We live in a time when if you make it easy for someone to steal from you, someone will.” There are many malicious actors out in the digital landscape and it will be increasingly important to stay ever vigilant.
Email interview held on 30th September 2017 – as follows between Alan Radley (questioner) and Chuck Brooks (relator):
- What are your thoughts on the current state of cybersecurity, both for organizations and for consumers?
The current state is a scary one. Constant breaches have demonstrated that as consumers we are becoming more and more dependent upon digital commerce. Our banking accounts, credit cards, and financial daily activities are interconnected. We are all increasingly vulnerable from hackers, phishers, and malware proliferating across all commercial verticals.
In the past year, the employment of ransomware has become a method of cyber-attack choice by hackers. This is because many networks (especially hospitals, utilities, universities, and small businesses) are comprised of different systems, devices and often lack required patching and updating necessary to thwart attacks. The recent Wannacry, and Petya attacks were certainly wake up calls to the disruptive implications of ransomware. We can expect to see more such attacks because of the ease of infection and because the vulnerabilities to networks still remain. Continue reading “Science of Cybersecurity Interview with Chuck Brooks”
This plague has only increased and has prompted much research and writing on cybersecurity best practices (including by us) settling on, at the very least, one or more best practices designed to lessen (if not entirely mitigate) the effects of ransomware.
The recent WannaCry ransomware exploit brought into full view several factors that terrify many companies and their boards of directors. Why? Because these directors are charged with the fiduciary duty of overseeing the cyber risk preparations and defences of their companies for their shareholders.
In today’s environment, this presents quite a challenge for companies and boards alike. Security has always been a challenge because the defender must be right 100 per cent of the time and an attacker needs only one lucky shot. Effective cyberattacks can involve factors, such as:
1. A ‘zero-day’ or previously unknown software exploit (or vulnerability) that even advanced IT departments could not have reasonably planned for
2. An exploit that encrypts files when enabled or executed, and will not give the files back unless a ransom is paid
3. A public relations nightmare trying to explain to third parties, regulators (and in the case of WannaCry, hospital patients) why service levels dropped (i.e. evaporated) due to lack of properly segmented back-up recovery media and/or less than rigorous implementation of standard patches for older operating systems. Continue reading “Cybersecurity: A fiduciary duty”
Much like when a CFO presents a financial statement to the board, the advisor ensures that cybersecurity is always framed in terms of what it actually means for the business. The advisor can make sure that the current cybersecurity posture is well-articulated and that the target state is achievable given the organizational culture.
What makes a good cyber risk advisor? What skills do they need to help board directors address cybersecurity? According to a report by BayDynamics, board directors “may not be experts in security, but they do know how to steer a business away from risk and toward profit by listening to subject matter experts. However, they expect those experts to frame that advice around relevant business concerns.”
In addition to being able to communicate effectively, cyber risk advisors should have a solid understanding of the technical weaknesses of the organization and how those weaknesses can impact business objectives. While it may be simple to find someone with technical savvy, that doesn’t necessarily mean you can put that person in front of a business leader. As BayDynamics noted, “You’re not going to impress a board with how smart you are by throwing technical jargon at them that will go over their heads.” Continue reading at SecurityIntelligence.com
The Non-Technical, No Nonsense Guide For Directors, Officers, and General Counsels
Cybersecurity, as many organizations practice it today, is broken. Everybody is feeling the pressure as competitors and partners alike dread a breach. Leadership can’t be left in the dark due to technobabble, a lack of resources, or excuses as to why cyber risk cannot be measured.
FireEye is proud to support the new eBook, The #CyberAvengers Playbook: Doing the Little Things (and Some of the Big Things) Well (2017 Edition). This short guide is designed to give you actionable items that could help any organization improve its cybersecurity posture.
Download the eBook and pick up the following tips from the #CyberAvengers:
- Oversight duties: Learn to view risk from an enterprise perspective in an era where accountability and fallout costs are surely going to grow.
- Cyber risk: Why it matters and how to wisely spend your limited resources.
- Communication gaps: Cybersecurity is not an IT-only issue, so do not be afraid to speak your mind. We show you which questions to ask.
- Response and continuity: Even the best-tested plans can go out the window during a time of crisis. Learn to minimize the fallout.
- What’s happening in 2017 and what to expect in 2018: From the ransomware scare to the General Data Protection Regulation (GDPR) coming into effect, business is becoming more expensive. We try to help you save wherever you can.
The specifics of a security approach may vary according to circumstances, but the mesh that connects the elements is situational awareness combined with systematic abilities for critical communications in cases of emergency.
What are the new Cybersecurity Stakes – What are vulnerabilities and risks?
We live in world of algorithms; x’s and o’s. Our digital world is ripe for access and compromise by those who want do harm from just a laptop and server. A myriad of recent breaches have demonstrated that as consumers we are becoming more and more dependent upon digital commerce. Our banking accounts, credit cards, and financial daily activities are interconnected. We are all increasingly vulnerable from hackers, phishers, and malware proliferating across all commercial verticals.
In the past year, the employment of ransomware has become a method of cyber-attack choice by hackers. This is because many networks (especially hospitals, utilities, universities, and small businesses) are comprised of different systems, devices and often lack required patching and updating necessary to thwart attacks. The recent Wannacry, and Petya attacks were certainly wake up calls to the disruptive implications of ransomware. We can expect to see more such attacks because of the ease of infection and because the vulnerabilities to networks still remain. Continue reading “Rising Tides and Higher Stakes – High Performance Counsel Interview with Chuck Brooks”
Board directors are under a lot of pressure. They know that it’s only a matter of time before their organization suffers a cyber incident, and all eyes will naturally be on the directors themselves to see if they were properly exercising their risk oversight.
Directors also know that all interactions with the CISO will be subject to close scrutiny in the aftermath of a breach. But with the right mix of security education, communication and help from outside experts, executives can fill cyber risk awareness gaps and achieve compliance with a growing number of privacy and risk regulations. Continue reading at SecurityIntelligence.com
“Nearly 60 percent of small businesses have to close shop after a data breach, which costs, on average, about $32,000 per attack.”
Cybersecurity Spending Soaring:
According to market research firm Gartner, global spending on information security is expected to reach nearly $87 billion in 2017 — an increase of around 7 per cent over 2016 – and is expected to top $113 billion by 2020. Also according to Gartner, by 2020, 40 percent of all managed security service (MSS) contracts will be bundled with other security services and broader IT outsourcing (ITO) projects, up from 20 percent today. Continue reading “A Quick Summary of Recent Trends & Developments That Businesses and Law Firms Should Know”
For all the solutions out there, make sure you are packing the right material for you because you only have a finite amount of resources. This is what it means to be situationally aware. And this exercise also helps you prioritize what data you value most.
In previous articles on understanding big data, the need for AI, using encryption and tokenization (including the drawbacks of encryption), and the series on human vulnerabilities, we laid down just some of the building blocks necessary to create a robust cybersecurity strategy. Yet there is a larger problem we often experience: losing the trees for the forest. All the tips we have mentioned thus far are great, but only if you are situationally aware of your own challenges.
If you have legal or regulatory compliance issues, such as European Union’s General Data Protection Regulation (GDPR) or Health Insurance Portability and Accountability Act (HIPPA), you have no choice but to follow them. However, neither of us are big fans of standards and certifications for the simple reason that they rarely meet your specific needs in addition to being a costly undertaking in both time and money. This is why we are fans of frameworks, such as NIST Cybersecurity Framework (updated in January 2017) for the exact reason that a framework allows you to meet your own needs. Continue reading “Situational Awareness: Beware of Your Cyber Surroundings”
“Directors don’t need to be technologists to play an effective role in cyber risk oversight — but every board can take the opportunity to improve the effectiveness of their cyber oversight practices.” — Peter Gleason, NACD President
In January 2017, the National Association of Corporate Directors (NACD) released an updated edition of its “Director’s Handbook on Cyber Risk Oversight.” In light of increasing pressures from regulators and ongoing cyberattacks, board directors have a key role to play to ensure proper oversight of cyber risks for their organizations.
The 2017 edition improves on the 2014 version by clarifying several points for board directors to help them understand the strategic importance of cyber risks and the complexity of threats. It also includes several appendices that both chief information security officers (CISOs) and directors will find useful when preparing for mergers and acquisitions (M&A). The appendices also contain information about metrics and dashboards, and the relationship between boards and CISOs. Continue reading on SecurityIntelligence.com