Digital transformation is not just about adopting new technologies; it’s also about re-evaluating traditional security strategies for your modern business.
There is no single solution to end the persistent threat of malicious cyber actors exploiting technology vulnerabilities, and products that are “secure by design” will continue to suffer vulnerabilities; however, a large set of vulnerabilities are due to a relatively small subset of root causes.
Like most ransomware attacks, adversaries like to steal sensitive data that could be either monetised on various marketplaces or used to demand a ransom payment, and this trend is increasing. From my perspective, when NCSC was talking about Artificial Intelligence expected to increase the global ransomware threat back in January 24, today it is the reality.
The growing commoditisation of AI-enabled capability has changed the game, as most ransomware incidents typically result from exploiting poor cyber hygiene, rather than sophisticated attack techniques.
So a question: When was the last time you really assessed your technical debt?
When was the decision made to use hardware and software beyond their supportable or useful life? And, was the output a clear statement of risk, not a traditional statement of compliance, that supports proportionate and informed risk management?
Maintaining a holistic view of cyber risk and practicing good information governance ensures that business stakeholders tasked with deciding on whether to accept, mitigate, or transfer cyber risks have a thorough understanding of these risks. It sounds obvious but for many, it is still a compliance-based statement, not informed risk management.
Having this clarity is crucial for effectively allocating resources, prioritising necessary actions, and determining the order in which they should be conducted.
In my view, cyber risk is one of the most pressing challenges facing businesses today. As digital transformation accelerates, so do the threats from hackers, malicious insiders, and human error. Cyber attacks can disrupt operations, damage reputation, erode trust, and cause financial losses.
Reviewing and updating the cyber risk management process regularly, which means monitoring the changes in the threat landscape, the business environment, and the organisational structure, ensures that the cyber risk management process remains relevant, effective, and agile.
Security should not be a luxury option, and if you need help moving from compliance to assurance, then take a get in touch with us!