Building a Cyber-Resilient Company

Introduction

In the new digital era where businesses operate online and heavily rely on technologies, from being engaged in online transactions, providing online services and promoting innovations. Ensuring Cyber resilience in your organisation becomes of paramount importance.

Cyber resilience is the ability of an organisation to consistently produce desired results in the face of cyber threats or cyber crime occurrences. It is important to consider how your business will react and recover if they do occur. A thorough risk assessment, the creation of a complete cybersecurity plan, Implementing proactive and reactive defences, and upskilling the employees on cyber resilience are all steps in the process of creating a cyber-resilient business and recovering swiftly in the face of cyber threats.

Following are the steps to establish and improve the cyber resilience framework in your organisation-

Conduct a Risk Assessment

The process of conducting a comprehensive risk assessment is the first stage in creating a cyber-resilient organisation. Determine any possible cyber risks and weaknesses that are particular to your sector, infrastructure, and data. Analyse how these dangers could affect your company’s operations, customer information, and reputation. This evaluation will act as the cornerstone for creating a successful cybersecurity strategy.

Develop a Comprehensive Cybersecurity Plan

After understanding possible risks, your next step is to develop a comprehensive cybersecurity plan that reduces them. Make a robust cybersecurity strategy that is adapted to your organisation’s requirements. This strategy should include methods for recovery, incident response, and preventative actions. Important elements may include:

1. Implement Strong Perimeter Defenses: To protect your digital assets from external attacks, use firewalls, intrusion detection systems, and secure network settings.
2. Secure Endpoints: Ensure that all devices (computers, laptops, and mobile devices) used by the organisation have up-to-date antivirus software, firewalls, and encryption measures. Patch and upgrade software on a regular basis to resolve vulnerabilities.
3. Establish Access Controls: Use and implement strong user authentication measures, such as two-factor authentication, to prevent unauthorised access to vital systems and sensitive information.
4. Regular Data Backups: Implement automated and encrypted data backup practices to assure data availability in the case of a breach or system failure. Test and verify backup integrity on a regular basis.
5. Incident Response and Recovery: Create a thorough incident response plan that explains the roles, duties, and processes to be followed in the case of a cyber incident. Establish a clear communication strategy to report the incident.

Continuous Monitoring and Testing

Implement comprehensive monitoring systems to detect any possible threats and vulnerabilities. Perform penetration testing and vulnerability assessments on a regular basis to proactively detect and resolve problems.

Cybersecurity is a continuous process that necessitates regular monitoring, evaluation, and development. Review and update your cybersecurity plan on a regular basis to ordeal with evolving threats and technology. Keep up to date on changing rules and compliance needs in your sector. Conduct frequent audits and evaluations to detect gaps and make improvements as required.

Implement Proactive and Reactive Defenses

To be a cyber-resilient organisation, both proactive and reactive defence measures must be implemented. Proactive defences seek to prevent cyber attacks, whilst reactive defences seek to reduce the effect of incidents.

1. Employee Training and Awareness: It is a necessary step to train your employees about involving cyber threats and how to be vigilant and overcome such threats. Conducting cybersecurity training sessions where employees will learn about some best practices, such as identifying phishing emails, avoiding suspicious links, and practising strong password management, will encourage a culture of vigilance and accountability.
2. Secure Software Development Lifecycle: Use secure coding practices and execute comprehensive security testing throughout the software development lifecycle. To reduce vulnerabilities, software should be updated and patched on a regular basis.
3. Threat Intelligence and Information Sharing: Stay updated on the latest cyber threats and share information with relevant industry organisations and partners. Collaborate with cybersecurity vendors, government agencies, and other industry stakeholders to exchange threat intelligence.
4. Incident Response Team: Create a specialised incident response team comprised of IT, legal, and public relations professionals. Ensure they are sufficiently trained, that incident response plans are tested on a regular basis, and that clear communication lines are in place.

 

Recent trends and technologies

Recently BlackBerry has announced its plan to expand its worldwide software development capabilities by establishing a cybersecurity hub in India:

BlackBerry is a global company that serves thousands of enterprise customers. It is extensively involved in providing cybersecurity software and services. It has announced its plan to build a cybersecurity hub in India,  specifically in Bengaluru and Noida. By extending its software and services teams and using local experience, this strategic initiative intends to strengthen the company’s worldwide software development capabilities. The hub’s concentration will be on Generative AI and Machine Learning, data science and analytics, threat intelligence, networks, Unified Endpoint Management, and cloud and software development. It is projected to employ more than 100 specialised workers by the end of 2023.

BlackBerry will boost cybersecurity safeguards against cyberattacks by leveraging its advanced Cylance AI technology, which provides comprehensive protection against new threats. The expansion in India to their software and services presence would improve support for clients and partners in the Asia Pacific region. Furthermore, by providing chances for upskilling in modern technologies such as AI and Machine Learning, the hub will assist foster the next generation of cybersecurity specialists. This cybersecurity hub is anticipated to improve cyber resilience by focusing on modern technologies such as AI and Machine Learning.

Conclusion

Building a cyber-resilient organisation is a necessary need for your organisation to successfully defend itself from evolving cyber attacks and recover quickly if events occur. Implementing thorough risk assessment, building a complete cybersecurity plan, deploying proactive and reactive defences, and prioritising the upskilling of the employees about cyber resilience will allow your organisations to defend their operations, consumer data, and reputation in the digital landscape. Businesses may not only protect themselves from possible attacks by establishing a cybersecurity culture at all levels, but they can also build a degree of trust with their consumers, ensuring that their sensitive data is in safe hands. Data breaches and cyber threats are becoming more regular, so building a cyber-resilient organisation is an investment in your company’s long-term viability and success.

References:

https://www.entrepreneur.com/science-technology/how-to-build-a-cyber-resilient-company/455347https://

www.estuate.com/company/blog/how-build-cyber-resilience-your-enterprise

https://www.thehindu.com/sci-tech/technology/blackberry-expands-global-cybersecurity-software-development-in-india/article67075637.ece

https://www.indiatvnews.com/technology/news/india-hub-boosts-blackberry-s-global-cybersecurity-development-2023-07-13-880928

Author: Neeraj Soni, Intern – Policy & Advocacy Team, CyberPeace Foundation