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Cyber Risk Assessments are a Critical Component of All Cybersecurity Programs
It remains readily apparent that cyber risk remains a top concern for businesses of all sizes. The 2017 Verizon Data Breach Investigations Report notes that 61% of breaches were against companies with less than 1000 employees. This means that cyber breach is not a just a problem just for the Fortune 500, and any smaller businesses that see it that way are out of touch and likely a sitting duck.
Phishing scams remain a viable hacking method even in light of the massive amount of media attention. Id. The best cybersecurity software is rendered useless when a phishing attack succeeds because an unwitting employee clicks through on the email link. Verizon's report notes that last year 1 in 14 employees were tricked and a quarter more than once. Id. That is a statistic that should truly scare any executive of all companies — large and small.
Many companies remain overwhelmed by the prospect of developing a cybersecurity program. Too many still see cyber crime as an IT issue, and simply defer to that department. Information Technology is not Information Security. These are two very different practice areas and approach the problem from different perspectives. Cybersecurity is most definitely an information security issue and it must be treated as such. Failure to recognize this concept almost ensures a weak cybersecurity program that remains highly vulnerable to breaches. Regardless, all cybersecurity programs must start with a holistic view of the good, the bad and the ugly in the organization. If you do not understand the current state of your program then anything afterwards is simply a stab in the dark at security. A robust cyber risk assessment is where to begin.
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