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What is a Cyber Security Strategy?
A cybersecurity strategy (CSS) entails selecting and implementing best practices to defend a company against both internal and external threats, creating the basis of its security program while adapting quickly in response to any new ones.
The CMS allows businesses to adapt quickly as threats emerge while keeping internal costs under control.
Defense in Depth Strategy
Defense In Depth Strategies offer an effective method for organizations to cope with today's evolving threats and risks, layering security defenses to increase organizational defense against threat actors while protecting endpoint devices using various tools such as antivirus software, anti-spam filters, VPN services or host firewall protections.
Defense in Depth + Zero Trust Security
Utilizing multiple security tools as part of a defense-in-depth strategy is an excellent way to create an effective security plan.
However, the company must have sufficient resources available in order to monitor and support each tool's functionality - this may add another level of complexity for oversight purposes.
As part of an effective solution for this issue, organizations must also implement a model of zero trust; never trust and always verify what zero trust means; this combination includes multi factor authentication and machine learning tools, which give organizations insight into who's using assets on the network.
Small Business Cyber Security Strategies and Enterprise Security
What are the differences between an SMB's security strategy and that of an enterprise? A large company and SMBs differ primarily by size of organization and revenue generated, though threat actors could target both entities equally; any SMB handling HIPAA data must comply with all HIPAA-specific rules applicable to them.
Enterprise size can play an impactful part in how much data needs to be secured, necessitating an increased IT budget to implement necessary safeguards and controls.
But email phishing attacks don't differentiate based on employee count - larger organizations with substantial revenues tend to attract the attention of cyber attackers more frequently; most often, there's adequate insurance or funds in place that cover ransomware attacks as a precautionary measure.
One common perception about SMBs is they lack sufficient funds or resources to protect their network security, as well as being vulnerable to attacks.
A robust cyber security plan, therefore, should be equally essential to large enterprises and SMBs alike; its needs will depend on both types of businesses being run as well as the potential risks involved with each one.
Businesses Can Find Affordable Security Solutions
SMBs often face difficulty meeting tight budgets and resource planning goals while remaining current on technology trends while remaining cost competitive.
Making wise investments where money should go is critical when it comes to security - it is encouraging that security vendors are adapting enterprise product lines for SMBs.
Microsoft Office 365 Business, McAfee Small Business Edition, and Symantec/Broadcom all provide subscriptions that cover less than 300 licenses for small to midsize businesses (SMBs).
Also recently introduced by Microsoft is Microsoft Defender for Business: an enterprise-grade endpoint security solution tailored specifically for companies employing less than 300 staff; we predict its $3.00 monthly per user pricing will make this an extremely appealing offering in this market segment for integration with their Microsoft Technology Suite offerings.
Why Are Cyber Security Strategies Necessary?
Now more than ever, it is essential that organizations create and implement cyber-security strategies as security breaches increased 600% during the pandemic period alone, and average ransomware payout jumped 92% year over year to $582,000.
Attackers remain active and target vulnerable systems for attacks; there's evidence they will continue targeting vulnerable systems as threats emerge, and attack rates climb further.
Recent Cyber Attacks Have Increased
Recent cyber-attacks are on the rise and disrupting businesses worldwide while threatening actors. Find new methods of attack.
We will outline here some of these latest cyberattacks:
- Microsoft Azure SSRF Vulnerabilities.
- Slack GitHub Account Hack
- Data Of 228 Million Deezer Users Stolen.
- Twitter leaks data on 200 million users
- Cyber Attack
- Twitter Zero Day
- Starlink Dish Hacked
- Mantis Botnet
- Maui Ransomware Attack
- Conti Ransomware Attack
- The Kaseya Ransomware Attack
- Saudi Aramco data breach of $50 million.
- Accellion FTP Data Breach.
A recent study has demonstrated the increased threat from cyber-attacks using social engineering across industries.
89% of healthcare organizations experienced data breaches within two years despite security measures installed to safeguard them. Cyber attacks against web apps that contain critical health data could compromise them and put small businesses from all industries at risk.
Small businesses are the target of 43% of cyberattacks, making this an alarming reality and calling into question your ability to remain secure online.
Therefore it is imperative that you address the cyber risks within your business and develop a plan as more companies begin using cloud-based and online apps for operations management and other needs.
Cyber attacks continue to rise, posing serious threats to businesses of all kinds. SolarWinds ransomware and Colonial gas pipe attacks are prime examples of malicious actors exploiting weaknesses in software or security controls to launch attacks against companies.
Hacking into businesses is all too familiar when attackers target government networks or energy grids. According to reports from 2023's first half year alone, 2 767 breaches were publicly disclosed, exposing an estimated total of 20,8 billion records.
Regulatory Requirement & Penalties
Requirements and Penalties Businesses found violating regulations such as HIPAA or PCI will face fines depending on their violation, while organizations who breach SOX, GBLA, and GDPR also risk fines for breaking such laws and regulations.
As more businesses process data online, storage platforms have arisen that enable this processing as well as supporting machines supporting that data processing activity is increasing exponentially.
Due to an increase in on-premise and cloud processing of data, cyber-attacks, and vulnerabilities have increased exponentially.
According to statistics on worldwide data breaches, many companies fail to implement or develop their cyber security strategies and plans properly.
New Mobile Workforce
COVID-19 has transformed many people's working methods and is expected to do so into the foreseeable future. VPN technology isn't new, but being able to remotely connect to company networks from home or while traveling has become commonplace.
A recent study predicts that the U.S. population of mobile workers will steadily grow over the coming years and is estimated at 78.5 million today and 93.5 by 2024.
IDC predicts that by the end of its forecast period, mobile workers will account for nearly 60% of U.S. employees.
Businesses have found success allowing employees to work from home if their role does not require direct human interactions or equipment handling, keeping costs under control while remaining profitable.
Remote working can be dangerous. For instance, if a device that contains sensitive data and weak passwords or outdated software is stolen and contains vulnerable applications or files containing an entryway for malicious actors into a network is lost or compromised, it could enable access by attackers who wish to break in and gain entry.
Data Center & Cloud Transformations
Businesses are taking steps to leverage both traditional data centers and cloud solutions in their transformation efforts, with many now creating applications within containers unaware of support staff's ignorance of such creation.
Cloud research firms reported breaches due to misconfigurations exposing 33.4 billion records during 2018 & 2019 alone.
Server farms housed within data centers often go underutilized or are poorly managed on networks. As a result, sensitive information often is not properly secured, or its ownership cannot be identified - an issue many organizations face regarding data protection.
Read More: Elaboration of a Thorough Cybersecurity Plan
Considerations When Formulating a Security Strategy
Information security policies play a vital role in an effective security strategy. They consist of written practices and procedures which all employees are expected to abide by in order to maintain the integrity and confidentiality of information and resources.
Security policies outline what's expected from companies, how to achieve goals, and any possible repercussions for failing.
Their goal is to safeguard an organization; many opt to develop multiple specific policies in addition to an Information Security Policy for greater ease of understanding among end users. Here are a few sample policies you could write alongside your main policy document.
Network Security Policies
A set of general security policies designed to outline rules about network access and the environment as a whole as well as enforcement methods of these rules.
Data Protection Policies
A Data Security Policy defines an organization's goals regarding data security as well as any particular controls it intends to implement in response to threats to data.
Each organization and threat will require different controls. A Policy may outline several different controls depending on what kind of business or threat needs addressing.
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
- This article explains why it is important to keep a tidy desk. You may find sensitive documents taped or strewn on the desk.
Policy for Remote Access
- Remote access Definition.
- Employees and vendors are allowed to attend.
- What types of devices and operating systems are permitted?
- The methods that are allowed (SLVPN and site-to-site VPN).
Create a Cyber Security Plan in 8 Easy Steps
As every business has unique security needs, no single solution exists for developing their cyber-security plan.
Below are eight steps your organization should follow to develop and implement an effective security strategy:
1. Conduct A Security Risk Assessment And Conduct
An IT Enterprise Security Risk Analysis. To enhance their IT enterprise security posture; organizations conduct a risk evaluation in which multiple data owners and groups work in collaboration on this assessment process.
Once complete, management commits resources towards allocating sufficient security solutions as part of this step in order to conduct it successfully.
An enterprise-wide security assessment can also assist organizations in understanding the value of all the different forms of data stored or generated within an organization.
Without understanding all types of information generated within an organization, it would be almost impossible to allocate resources and prioritize technologies without first understanding all forms of data that is produced therein. Therefore it is critical that management accurately identify data sources, their locations, and vulnerabilities and assess risks accurately when conducting assessments - below is a list of resources that may help assess risk accurately.
How to Locate Assets
Start by accessing your existing asset tracking system - an inventory containing assets such as workstations and laptops, server operating systems, mobile phones owned by your organization etc - then identify those you would like.
Classify your Data:
- Public - Any information you share publicly, such as content on your website, financial data that is publicly accessible, or other information which would not negatively impact your business if it were compromised.
- Confidential - Data that should not be made public. Data that is confidential can be shared with third parties or even in some cases, given to legal entities outside the company. However, it would need to have a Non-Disclosure Agreement or another protection to stop the data from being made public.
- For Internal Use Only - Similar to confidential data, but that should or can't be shared with third parties.
- Intellectual Property - Data which is essential to the business core and could damage the competitiveness of the firm if it were compromised.
- Restricted Compliance Data - These are data which must be controlled strictly. This information is subject to strict controls on access and storage.
Asset Map:
- Software - Keep a repository of authorized corporate software.
- Systems - Use a Central Management Database to map assets back to a specific system or asset.
- Users - Group users by role assignment, for example, Active Directory.
- ID - Track and ensure that users are assigned to assets/resources based on the current roles or functions.
How to Identify Your Threat Landscape:
- Vendors and Assets - Work with legal teams to identify 3rd party contracts, such as NDAs or BAA lists of businesses that provide healthcare.
- Internal vs external infrastructure - Identify network ingress and egress points
- Show where the environments are connected - Make sure network diagrams and other documentation is available. If you are conducting your business on the cloud, make sure that infrastructure diagrams can be accessed.
Prioritize Risks:
- Conduct a Business Impact Analysis to determine critical systems and owners of data.
- Maintain a register of risks to help identify the systems and assets which pose the greatest risk to Confidentiality, Integrity, and Availability (CIA) for the business systems.
Reducing Your Business's Attack Surface:
- Implement Network Segmentation
- Conduct Penetration Testing
- Perform Vulnerability Assessment
2. Set Your Security Goals
Cybersecurity strategies must align with business objectives. Once set goals have been determined for an organization, an enterprise-wide cyber security proactive program may be put in place and set.
Below is an outline that may assist with setting security goals.
Calculate Your Security Maturity
- Assess Your Security Program - Review the architecture and past and recent incidents and breaches. Also, review your Identity Access and Management System performance.
- Assess Metric Status - Review Key Performance Indicators or Service Level Agreements.
- Benchmark the Current State - Utilize a tool to measure the maturity level of an organization's cybersecurity capabilities.
Understanding Your Company's Risk Appetite
Utilize a tool to assess your organization's cybersecurity capabilities while knowing its risk appetite by conducting a cyber risk analysis or register.
Once that data has been collated and prioritized appropriately.
Set Fair Expectations
- Resources - Is there expertise to achieve the cyber strategic objectives? Is there a budget to hire a Managed Security Services Provider?
- Timelines - Establish milestones to achieve each goal and communicate regularly with stakeholders.
- Budget - Carefully examine the results of your cyber security risk assessment. The budget is determined by the results of the risk assessment. It also determines whether additional systems are needed to reduce or mitigate the risks.
- Execution - After determining expectations, evaluate the resources available to ensure that it can be achieved.
Immediately Handle Low-Hanging Fruit
Focus on Tackle Low Hanging Fruit "Low Hanging Fruit" refers to tasks that are easy and quick win; taking action quickly on these will build your confidence while meeting more difficult strategic goals and challenges.
3. Assess Your Technology
Evaluating technologies is another integral element of cyber-security strategies. After identifying assets, examine them according to security standards before learning who in your company supports these systems on the network and provides support services.
This data collection process will enable your security strategy plan.
What Operating Systems Are in Use?
Assess the current state of your asset Operating Systems by looking for any active patches, bug fixes, and security updates being offered through End-of-Life technology that have expired - any business applications running on these outdated systems pose risks that are increasing exponentially as time progresses.
Are There Enough Employees Available To Manage These Platforms?
Step two outlined the expertise necessary for supporting technical platforms; these systems require resources in case of zero-day attacks that require quick responses.
Having enough people available is crucial when dealing with such attacks, and you must have ample manpower available at hand in case any occur.
Does Technology Bloat Exist
Technical bloat in large enterprises has long been recognized. Multiple systems perform the same function. Developers who write poor code may incur what's known as a technical loan - meaning more expense has to be put towards documenting and revamping than initially released software.
Software installed without approval may also cause complications, usually when developed independently by teams without consulting their support teams; this practice is known as Shadow IT.
Are You Tracking Data Through Technology Solutions (BIG-DATA) for Your System?
It is critical to document technology vulnerabilities. Security should be embedded throughout the lifecycle process from development and release.
4. Select a Security Framework
There are various cyber security frameworks you can choose from when developing a cyber security strategy, but without being visible, they remain unsecure.
Select one based on results of assessments such as vulnerability assessments and penetration tests conducted. Your chosen framework should provide guidance for controlling necessary controls that help maintain continuous monitoring and measurement of security posture - these items may help in selecting one.
Calculate Your Current Security Maturity
Apply the results from Step 2 to create a maturity model.
What Are You Required to Protect by Law
Your vertical or sector may have regulations which must be observed; failure to do so could incur severe fines such as HIPAA or SOX, among many others.
Frameworks exist which address specific regulatory needs within an organization's business - choose one that both fits with and aligns with the strategic business goals of your firm. Once you know exactly which requirements your business has to satisfy, then begin the selection process of selecting an applicable framework.
- PCI-DSS is a security standard for the consumer credit card sector.
- CMMC is a supplier to the DoD
- NIST in healthcare
5. Revamp Security Policies
Cyber security and its policies exist to combat security threats within an organization, whether that means having one overarching policy with multiple sub-policies for various technologies that they utilize or having multiple policies altogether that have to cover everything under consideration.
Therefore, an annual evaluation must take place so as to reflect recent threats accurately; here are a few steps that will assist with that evaluation process:
Which Policies Are Currently In Use?
It is crucial that these are reviewed regularly in order to make sure they align with your business model.
Do These Policies Actually Exist, or Are They Simply Written Down?
Policies need to be put in effect; all employees in an organization have an obligation to abide by security policies, which employees should have easy access to and should correspond with security controls that monitor, log and stop activities documented within.
Asserting Employee Security Principles
Training security awareness can assist in upholding policies more effectively. There are various means available to you to achieve this objective:
- Choose a platform that manages phishing emails in real time and gives immediate feedback to senior management.
- Security awareness applications are an investment worth making
- Use guest speakers for security awareness programs, such as lunch-and-learns and annual events.
6. Construct A Risk Management Strategy
An essential element to successfully implementing any cyber security plan, risk management is one key strategy that analyzes potential threats facing an organization, giving a proactive approach the ability to detect potential dangers before they happen and mitigate or manage them as soon as possible.
Here are some policies which should be included as part of your risk management plan:
- Data privacy policy - Provides governance for the proper handling and security of corporate data.
- Data Retention Policy - Defines where and how to store or archive various corporate data types.
- Data Protection Policy - This policy explains how an organization handles the personal information of employees, clients, suppliers, and third parties.
- Incident response plan -This document outlines the procedures and responsibilities that must be adhered to in order to respond to Security Incidents quickly, effectively, and efficiently.
7. Implement Your Security Strategy
Now is the time to assign remediation tasks and prioritize efforts after completing assessments and policy plans.
Prioritize Remediation Tasks And Delegate Them To Teams Within Your Organization
Utilize your Project Management Office (PMO) for project oversight and management; alternatively, plan and lead it yourself if there's no PM team available to you.
Set Realistic Remediation Deadline Goals
Set realistic deadlines that exceed expectations instead of setting excessively aggressive timelines that become impossible to meet.
8. Assess Your Security Strategy
Crafting a cyber security plan is only the starting point in maintaining effective protection since threat actors exploit any weakness regardless of size.
In order to keep up with evolving threats and keep its strategy current and effective. Keeping these key points in mind is essential when developing and overseeing effective monitoring plans.
Form A Board Of Key Stakeholders In Your Organization
A security strategy's success hinges on its stakeholders being involved. They serve to provide resources, ongoing support and ensure its completion successfully.
Conduct An Annual Risk Evaluation
Security goals rarely change over time as they're tied directly to business goals; however, threats constantly evolve, meaning strategies should be periodically evaluated in order to detect program gaps - this should ideally happen annually.
Internal and External Stakeholders
Feedback Your actions will be more appreciated when stakeholders understand why the decisions being made for security purposes are strategic decisions for their business.
Input from both internal and external stakeholders can provide crucial support in justifying budgets, processes, strategies as well as overall business plans for security decisions made within your organization.
What to Avoid in Cyber Security: Implement Your Strategy
Successful cyber security implementation of any cyber strategy relies heavily on careful planning and executive involvement.
Without their backing and involvement, such strategies often end up floundering in their implementation; leadership from senior members plays a crucial role. You may encounter hurdles along your journey that must be avoided or minimized to reach success.
Lack of Documents and Technology Sprawl
Over time, servers and software may be added to meet specific business requirements or for development testing, which could then spread throughout your network without proper change management procedures or decommissioning policies in place; in doing so, backdoor vulnerabilities could open.
Legacy Systems
Legacy systems that cannot be updated or are no longer maintained pose significant risks due to either no monitoring of cyber security plans or weak application security management practices.
This pitfall is compounded by a lack of updates about cyber security plans as well as ineffective application security management plans.
Cybersecurity presents companies with numerous difficulties. Finding time and utilizing resources are both daunting tasks; in many SMBs, one employee often wears multiple hats in this regard.
While patches might take more time and work to complete than anticipated, failing to update equipment could leave their networks exposed for months, if not years.
Conclusion
Even after we have covered the basics of developing an effective cybersecurity plan, getting started may still prove challenging.
Your plan should contain various cyber defense measures; to get you going quickly, use our comprehensive list of methods and guidelines when crafting your security strategy plan.
Starting on your own may seem overwhelming; we at Cyber Infrastructure Inc. understand cyber security tactics. We offer services from auditing to new strategy creation, project implementation, and ongoing management - we have you covered.
