Contact us anytime to know more — Amit A., Founder & COO CISIN
To truly secure their business, businesses need a comprehensive cybersecurity strategy with plans in place for meeting future security requirements.
Cybersecurity strategies are no longer just nice to have; they must now become essential. An effective cyber-security strategy requires careful thought and guidance for success. By following our advice, you can develop one for your own company to protect itself.
This article will outline five key components essential to developing an effective cyber security strategy while also detailing government cyber strategy and how businesses may utilize it.
Create the foundation of a security plan for either small or large businesses with this guide.
What Is A Cyber Security Strategy?
Cyber security is an action plan to safeguard a company against online threats.
An effective cyber security strategy outlines which items need to be prioritized to achieve a safe cyber environment, using principles from cybersecurity principles as its basis. Achieve business goals via resource allocation.
Without an effective strategy in place, much of our work may prove ineffectual and redundant. Cyber security applies across disciplines.
When expanding a business, rather than picking random elements for sales and hoping they work out well, make a business plan outlining every critical component and security goal involved in creating that plan.
Let us use that logic to bolster our cyber security. Cyber security refers to the plan and implementation of best practices designed to protect a company against internal and external threats, setting an operational baseline that enables adapting quickly in response to emerging risks.
Defense In-Depth Strategy
Cyber security strategies must incorporate defense-in-depth measures for effective risk mitigation today. This strategy seeks to strengthen security defenses.
Utilizing this strategy appropriately strengthens an organization's capacity to limit and minimize damage from threats agents. Companies using endpoint devices often utilize various security tools, including antivirus, antispam, VPN, and host firewall services, to protect endpoint devices at their facility.
Defense In Depth + Zero Trust Security
Utilizing multiple security tools as part of a defense-in-depth strategy is an efficient and cost-effective approach to creating an effective security plan; however, to be truly effective, this requires sufficient technology resources within an organization to monitor and support each tool's functionality.
Additionally, this may add another level of complexity. To properly address this problem, it is also crucial to implement a model of zero trust.
Always perform due diligence before trusting and verifying. Zero Trust refers to an approach combining multi factor authentication, machine learning, and other essential components which offer businesses visibility into who's accessing assets within the network.
Cyber Security Strategy For Enterprise Vs Small Business
What are the differences between an enterprise security strategy and that for smaller organizations? Small to midsize (SMBs) companies and large ones differ mainly by employee counts and revenues.
Threat actors pose a potential threat to all businesses regardless of size.
SMBs that handle HIPAA data must abide by the same policies as large enterprises. Large companies tend to have larger data footprints that require greater investments to secure.
Unfortunately, hackers do not discriminate based on employee count when initiating attacks against companies' data security.
Large organizations that generate revenues represent clear targets. Most enterprises possess adequate insurance and funds available for ransomware attacks on their business premises.
There is often the perception that SMBs lack sufficient resources and budget for network protection. They can also be more vulnerable to being targeted for attack. Cybersecurity strategies should be of equal significance for SMBs as for large enterprises.
The security needs of an enterprise depend on its business model and risk exposure.
Affordable Security Options Available For SMBs
SMBs must navigate tight budgets while also planning their popular resources wisely and keeping up with technological advances for a competitive edge.
Preparing expenses to meet this challenge requires extensive planning, especially when business security requirements come into play.
It's encouraging that many security product vendors have tailored their offerings specifically for large enterprises and SMBs alike.
Microsoft announced Microsoft Defender for Business as an enterprise-grade endpoint security solution designed for companies with 300 or fewer employees.
What Is The Importance Of Cyber Security Strategies?
Never has developing and implementing a cyber security strategy been more critical, given security breaches rising 600% during this pandemic.
Threat actors remain persistent and continue to target vulnerable systems with malicious attacks.
Increase In Recent Cyber Attacks
Threat actors continue to find increasingly sophisticated methods of attacking businesses, increasing the frequency and severity of cyber attacks.
Cyber attacks have increased across industries. A recent study concluded that social engineering techniques in retail pose the highest threat.
89% have experienced data breaches within two years despite having security measures in place. Cyber attacks against web-based applications that connect to sensitive healthcare data could pose a danger.
Small businesses face risks across virtually every industry. Cyber attacks present an ongoing threat to many small businesses.
As more businesses turn to cloud-based and online applications for business needs, it is critical that you address cyber risks in an organized fashion.
Developing an action plan may prove invaluable when faced with cybersecurity threats to your enterprise. Cyber attacks will continue to increase, and their ramifications for your business can be catastrophic. Hacking into a business is no unheard-of practice when hackers target systems that monitor government or energy networks.
Regulatory Requirement & Penalties
Organizations found violating laws or regulations such as HIPAA or PCI or failing to adhere. Due to an increase in companies that process data, platforms like the Cloud and machines supporting it have also seen exponential expansion.
Cyber attacks have become more frequent now that more data is stored online or locally. According to recent statistics, many organizations need to implement or create an appropriate cybersecurity plan or strategy.
New Mobile Workforce
COVID-19 has had an immense effect on many workers' work practices and will likely alter how many work in the future.
VPNs have long been available, yet today their use has become widespread as people increasingly connect remotely to company networks from home or the office.
New data predicts that the U.S. population of mobile workers will steadily expand over the next four years - projected from 78.5 million in 2020 to 93.5 in 2024.
Assuming current projections hold, nearly 60 percent of U.S. workers will be mobile device workers by 2024. Many businesses have found success by permitting employees to work remotely if their role is free of face-to-face interactions or equipment handling.
Remote working can be hazardous. For instance, if a device that hosts sensitive information and contains weak passwords or outdated software was stolen and contained software applications with access points for malicious actors containing sensitive data could become infiltrated with their software, providing entry points into networks belonging to criminal organizations or institutions.
Data Center & Cloud Transformations
Today's businesses increasingly utilize both traditional datacenter and cloud services for their computing needs.
Today, many organizations are creating business applications on cloud-based containers, which their support staff needs to learn about.
Server farms within data centers either need to learn how to utilize them effectively or are taking inadequate advantage of their networks.
Many times, sensitive information is left unsecured, or the business owner needs help to be located to address security issues. Data security presents numerous difficulties for companies today.
Policies To Consider When Developing A Security Strategy
Information security policies play a pivotal role in any effective security plan. Security policies include written practices and procedures which all employees are expected to abide by to preserve the integrity and confidentiality of data and resources.
Security policies outline the goals, methods, and potential outcomes associated with adhering to them in a company secure environment if any policy violations arise from failure to abide by them properly.
Many organizations opt to develop additional policies in addition to an information security policy. By breaking up policies into manageable sections, they become simpler for users to grasp. Here are a few sample policies you should add to your main security policy.
Network Security Policy
This is a set of general security policy templates. They outline rules for network access and the cyber security environment.
Data Protection Policy
A formal document that outlines an organization's data security goals and measures is the data security policy. Depending on the type of business and threat being addressed, data security policies can include various types of controls.
Workstation Policy
Security (use of an antivirus program, locking unattended computers, using passwords, and patching).
Acceptable Use Policy
- Acceptable/unacceptable Internet browsing and use.
- Acceptable/unacceptable email use.
- Acceptable/unacceptable usage of social networking.
- Transfer of confidential files electronically.
Clean Desk Policy
It is important to keep a tidy desk. You may find sensitive documents taped or sprayed on the desk.
Remote Access Policy
- Remote access Definition.
- Employees/vendors are allowed to attend.
- Which hardware and operating systems are accepted?
- The techniques (SLVPN and site-to-site VPN) that are permitted.
Five-Step Approach To Implementing A Cyber Security Strategy
1. Security Awareness
Awareness is of utmost importance when it comes to cybersecurity; you need an understanding of your environment's cyber risks to defend your business adequately.
Fostering awareness of cyber threats will allow your company to identify specific cyber risks better. You'll gain greater insight into specific threats affecting it as well as learn how best to defend against them.
Cyber Security: Identifying Potential Vulnerabilities
Start by gaining knowledge about potential cyber vulnerabilities. The procedure should incorporate the following steps:
- Identification of the devices, tools, and hardware in your company that are used to interact with sensitive information.
- Assessing the effectiveness of existing security measures by analyzing them.
- Run vulnerability scans to find any weaknesses in the network.
Create A Cyber Security Culture
Your cyber strategy will be successful if you instill an environment conducive to cyber security in all departments and entities within your organization.
Your organization's cyber culture embodies your knowledge, attitude, and consideration when it comes to cybersecurity issues. Cyber security involves more than technology alone - it also encompasses people. Strong cyber security cultures bring many advantages.
They include increased employee vigilance and greater compliance with security policies.
Continuous Improvement And Adaptation
Implementing cyber security awareness at your business requires consistent effort. Staying aware of current threats and security vulnerabilities is vitally important if we wish to remain safe in an ever-evolving security landscape.
Implement tools, policies, and training sessions designed to safeguard your business to make sure its security.
2. Risk Prevention
Risk prevention in cyber security encompasses software and tools such as antivirus programs, firewalls, and password managers to safeguard you against breaches in online security.
The ACSC's Essential Eight
Australian Cyber Security Centre (ACSC), one of premier cyber security organizations, has developed an eight "Essential Eight" strategies protocol designed to lower security breach risks.
By covering multiple vulnerabilities and risks simultaneously with this list of cyber security measures for managing cyber risk more effectively:
- App control
- Use Patches
- Configure Microsoft Office macro settings
- User application hardening
- Restrict administrative privileges
- Patch Operating Systems
- Multi Factor authentication
- Backups are recommended
You should know why it is important to include this in your cyber-security strategy because you would have no defenses at all against cyber attacks.
Cybersecurity Frameworks
This section must incorporate an outline for cyber security. The document is designed to facilitate defining and administering information security policies in an information technology-secured environment, particularly regarding security risk assessment and risk mitigation strategies.
Use various cyber security frameworks to tailor an approach for risk reduction within your company.
Read More: What Is Cyber Security? Its Important & Common Myths
3. Data Management
Managing And Protecting Sensitive Information
Protocols and measures related to data management play an integral part in protecting your information. Hackers seek out sensitive data during data breaches or cyber-attacks to sell, steal or corrupt it for personal gain.
As a company, you are accountable for managing an extensive volume of both internal and external information, such as addresses, client records, and medical files.
A data management strategy is an important part of a cyber security plan. A data management strategy that is effective will include the following:
- Ensure appropriate levels of access to sensitive data by users.
- Protect your stored data on the system.
- Secure data transfer between networks and users.
Data Management Best Practices
Data management systems should be based on best practices:
- Use role-based Access Control (RBAC) to restrict access to sensitive information.
- Secure sensitive data in transit and at rest.
- Secure file transfer protocols such as HTTPS or SFTP are recommended.
- Review and modify user rights as necessary.
- Perform periodic audits on the security of your data access and storage.
- Create a solid backup plan and recovery strategy.
This list may be incomplete, but it serves as an effective starting point when it comes to managing and protecting sensitive data in your company.
Consider what cloud storage service you are relying upon and ensure there is a proven backup plan in place.
4. Set Up Network Security And Access Control
Cyber security can only be completed with stringent access and security controls. Secure and control system access to reduce cyber security risks related to data breaches and unauthorized entry.
Exploration of two key aspects of access control and network security.
Firewalls And Intrusion Detection Systems
Firewalls provide an extra layer of defense that shields your network from external threats. Filtering data coming in and out uses predefined rules to protect unauthorized network access and protect sensitive information.
Intrusion Detection Systems monitor your network for suspicious activities and notify IT staff should any threats emerge. Your team can quickly recognize risks, take measures to minimize them, and act swiftly to avert potential catastrophes.
If you want to improve your network security, make sure that:
- Update and configure firewalls regularly to keep up with new threats.
- Install an IDS for monitoring network traffic and detecting intrusions.
- Your IT team should be trained to deal with potential threats.
Multi Factor Authentication
Multi Factor Authentication should certainly be on your Essential Eight checklist; its implementation adds another level of security for which you will always be grateful.
MFA requires users to present multiple forms of ID before accessing your system; typically, this consists of something you know or possess yourself. Implementing MFA will reduce your risks of unauthorized access since hackers will find it harder to exploit each factor individually.
Consider these options to improve your access control:
- All users should be able to use MFA, especially those who have access to sensitive data.
- Use strong passwords and unique ones for all accounts your team has.
- Train your staff on MFA Best Practices.
You can create a solid foundation for cyber security by focusing on access control and network security. It will be more difficult for hackers to access your data and penetrate your system.
5. Security Measures Should Be Reviewed And Monitored Regularly
Cyber security requires ongoing efforts. To keep pace with evolving threats and secure our network and data from attack, it is necessary to regularly evaluate, modify and bolster our cyber security plan.
By regularly updating and reviewing security procedures, you can help safeguard your company against new threats.
Security Assessments
Conduct regular security audits to detect weaknesses within your infrastructure and assess any vulnerabilities or weak points that exist within it.
A full examination of security procedures, policies, and technologies must also take place to confirm they adhere to best practices - this provides valuable information regarding where your business stands today and allows you to prioritize security measures accordingly. Consider these tips to make your security audits more effective:
- Schedule regular basis audits of security – at least once a year or even more often if necessary.
- You can get an objective assessment by engaging an independent, well-respected firm to conduct the audit.
- Implementing the recommendations from your audit and adapting your security strategies accordingly.
Continuous Improvement
Cyber security is constantly morphing. Hackers continue to identify new vulnerabilities and threats that must be protected against.
Staying ahead requires adopting an ongoing improvement philosophy and continually updating and refining security measures in response to new information, changing technology, or shifting business needs. You can improve your cyber-security strategy by taking the following steps:
- Follow the most recent news and trends in your industry.
- Attending industry seminars and events to keep informed.
- Please review and update security procedures and policies regularly to make sure they are relevant.
You can maintain a resilient and strong cyber security strategy by identifying weaknesses and making necessary adjustments.
Avoid These Common Pitfalls When Implementing Cyber Security Strategy
Cybersecurity strategies will only be successful if they have been carefully planned and supported by senior leaders in an organization.
Un strategy will only succeed with support from its leaders. Senior members' leadership is critical to the successful implementation of any cybersecurity strategy. Avoid or minimize potential roadblocks or obstacles still in your path.
Lack Of Documentation And Technology Sprawl
Over time, servers and software will be added to meet specific business requirements or for development testing purposes.
These systems may easily increase on any network as long as there are no change management or decommissioning procedures in place. Some systems remain vulnerable due to incomplete patching efforts or may contain backdoors that prevent full protection of information security.
Legacy Systems
An obsolete or no longer maintained legacy system represents a substantial security risk. This misstep occurs because a cyber security plan needs to be monitored regularly or there needs to be more effective application security management.
Insufficient Resource
Cybersecurity presents businesses with an immense challenge when it comes to time and resources. Most SMBs operate with minimal staff -- typically, just one person does all the work.
Patching equipment regularly may seem cumbersome and time-consuming; however, failure to patch can leave vulnerabilities open for months or even years without remedying them. Partner with a managed security provider, and you could avoid this potentially damaging oversight.
Five Tips To Successfully Implement Cyber Security Strategy
You need to develop a strategy for cyber-security around these key elements. Here are the five most crucial ones.
Attack Surface Analysis Is The Basis For A Cyber Security Strategy
Once you understand who, what, when, and why your valuable assets exist, it becomes much simpler to consider how an attacker could exploit them.
A thorough attack surface analysis, as well as a comprehensive cyber security assessment, will assist in identifying systems to assess for vulnerabilities or cyber security threats.
Your cyber security plan needs to address both vulnerabilities in protocols as well as attackers having clear ways of exploiting information assets, so make sure your plans are accordingly.
In such an instance, prioritizing how your plan will be executed could make all the difference when considering implementation strategies for cybersecurity plans.
Multilayered cyber security tools provide robust defenses, while standard and cost-efficient deployment options may suffice in other parts of your network.
Analysis of attack surfaces should never serve as the sole determinant in developing your cyber security strategy; rather, this process should occur continuously as networks change and cyber security attack surfaces shift with them - or when new threats emerge.
Focus On Security Controls And Event Monitoring
Before cyber defenses' appearance, cyber security controls primarily focused on prevention. Your data, applications, and systems were all securely located on-premise and protected with strong perimeter cybersecurity measures.
Cloud services blur this boundary and spread your data throughout the internet. Therefore, more robust controls should be deployed to keep them protected.
Focusing solely on weaknesses is futile; 67% of businesses have suffered at some point a data breach, and over 4,000 ransomware attacks are launched daily, so the focus must be more on being ready to detect and respond swiftly in case any attacks come into being.
Cyber attacks are increasingly likely, making a successful cyber security plan that involves computer incident monitoring and advanced event management essential.
Automating detection and response processes allows organizations to reduce data breach financial impact by automating responses.
Threat Intelligence Is A Must-Have For A Cyber Security Strategy
Threat intelligence includes context, mechanisms, and indicators, as well as actionable advice about current or emerging dangers or risks to assets.
With this knowledge in hand, one can make decisions regarding how best to respond. Integrating threat intelligence into your cyber security plan is costly, and investing solely in data won't help improve it.
To create an effective strategy, intelligence must serve its intended purpose. To do this, gain an in-depth knowledge of what information security engineers require in terms of protecting critical assets and critical systems from cyber threats, knowing who the attackers are as well as knowing their motivations for attacking.
Knowing these details will allow for enhanced cyber security strategies targeting specific industries or sectors and improve cyber defense efforts significantly.
Effective use of this resource requires the automatic delivery of threat intelligence directly into your network.
The manual analysis could produce too many false alarms; having an automated system analyze all this data would save much-needed resources and effort.
Testing Your Incident Response Plan
Cybersecurity strategies must include an incident response strategy. Modern attacks are so sophisticated even advanced prevention solutions can only sometimes stop them; cyber attacks will only become worse with proper response mechanisms in place.
As part of your incident response, careful planning efforts, it is not sufficient to go through the motions. All major phases must be covered: preparation, identification, and containment/eradication/recovery, as well as lessons learned/recovery processes and lessons.
Testing must also take place after creating and documenting your strategy plan. An cyber security incident response test will allow you to quickly assess any necessary adjustments, potentially saving thousands while protecting your reputation if necessary.
Mitigating Human Error In Cybersecurity
Cyber security presents us with a sobering reality: up to 90% of attacks result from human errors. Even if we invest heavily in protecting against online attacks, any amount could easily be wasted by just one individual falling for a phishing scam and giving away their credentials.
Awareness training can help reduce human errors. You can educate employees about cyber threats by including awareness of cyber security training in their strategic plan.
Human error remains an ever-present threat when it comes to cyber security, so the more knowledgeable your employees are about the potential dangers, the easier it will be for you to protect and mitigate them.
Conclusion
Establishing an effective cyber security strategy may seem intimidating at first, despite our comprehensive discussion about its foundations.
Every strategy must include multiple methods of cyber protection that must be included as part of its plan - every business should consult our comprehensive list of policies and techniques when creating their security strategies.
Beginning on your own may seem daunting. Our IT security consultants specialize in cybersecurity strategies and strategies at IT.
We provide auditing and planning, project management, ongoing management as well as implementation cyber security services for cybersecurity projects.
