When it comes to the threat landscape, cyber criminals are growing in sophistication, and it’s no secret that businesses are battling against increasing cyber-threats. It’s become not a question of ‘if’ an organisation will be attacked, but ‘when’.
It's critical that organisations are able to identify these threats and mitigate against them, without any disruption to business continuity. To do so effectively, the responsibility lies with the CISO to be aware of the nuances within the threat landscape, and changes affecting it.
When assessing this, it becomes clear that prioritising regulation and insurance policies and enforcing operational resilience is key to safeguarding the future.
The Evolving Threat Landscape
External factors have a significant impact on cybercrime. Uncertainty brought about by geopolitical events, such as the war in Ukraine, create an environment for cybercrime to thrive. Oil, gas and food famine resulting from the war is demonstrating in real time how threat actors will abuse new threat vectors and pull on the strings of a globalised supply chain to cause widespread instability. Similarly, at the beginning of the pandemic, cybercrime soared by 600% as threat actors took advantage of a new vulnerability.
With geopolitical factors encouraging cybercrime, the costs associated are becoming astronomical. This is causing premiums to skyrocket as insurance companies are struggling to cover the volume and costs of a cyber-attack. Cybercrime is estimated to increase in cost for companies to $10.5 trillion by 2025, which makes it even more important for organisations to have the ability to respond at pace. When it comes to defence against ever-sophisticated cybercrimes, reacting fast is critical to mitigating disruption to business operations and avoiding a serious loss of income.
In light of this, what should the CISO’s top two priorities be to ..
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