Is It Time To Invest In Your Cyber Health? (Buzzacott)
Technology
May 3, 2023 - BuzzacottThis is a thought leadership article by PrimeGlobal member firm Buzzacott exploring the importance of prioritising cyber security for businesses and providing insights on improving cyber health.
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The pace of change in the cyber security world shows no signs of abating with attacks coming from the usual vectors – state-sponsored disruption, organised crime, terrorist financing, hacktivism and possibly the greatest concern – your own colleagues.
These risks put pressure on technology organisations and those reliant on digital information and systems.
The most prominent attack types are malware, web attacks, phishing and denial of service. The rapid rise of the new threat - cryptojacking (the malicious and unauthorised use of devices to mine crypto currency) has also been widely reported. While protection exists to counteract many of the attacks, sophisticated payload tools can come into force, it is these that technology providers can have a time-lag in detecting.
With all this in mind, how can your organisation review its cyber health, to avoid the fall-out of a successful attack?
Key areas to invest in to boost your cyber health
Cyber health is increasingly a board level agenda topic, due to legislation and hacktivism threats. Harness these key areas to strengthen your organisation’s cyber health:
- Review your budget – set aside an allowance for a cyber security audit and a contingency for resolving issues.
- Invest in resource – depending on your firm’s requirements, ascertain if in-house staff are suitably trained or can this specialism be outsourced?
- Engage and educate staff – this should be high on the risk register and contingency plans should be in place to tackle cyber risks at all levels.
- Focus attention – ensure that your tech partners are focused on your cyber health – assume nothing and ensure that you probe their approach.
- Avoid information overload and compliance clutter – seek out key priorities and understand what are the mandatories for legislation relevant to your industry’s requirements.
Chief Information Officers (CIOs) face the unenviable challenge of protecting the organisation. It is essential for them to encourage productivity, agile working and collaboration, harnessing the use of technology platforms. While many CIOs seek to empower their organisation, their protective duties might be misinterpreted as a barrier.
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Buzzacott
Buzzacott is an accountancy and advisory firm with over 100 years of experience. We support individuals, businesses, and not-for-profits with everything from annual accounts and tax planning, to long-term financial strategies and everyday advice. With a team of more than 600 people, including over 50 partners, we have the depth and expertise to support clients across a wide range of needs. We understand that every client is unique, so we take time to understand your needs and bring in the right people from across the firm to help. Our people-first approach means our team is engaged, collaborative, and ready to work alongside you as a trusted partner. With us, you’ll get joined-up thinking, clear advice, and a team which is as invested in your success as you are.
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