How to develop a cyber-competent boardroom?

“?There are three different types of companies in the world: those that have been breached and know it, those that have been breached and don’t know it and those that will be breached at any point now or in the future.”?- Ranghan Venkatraman (CEO of Pinochle.AI)

The guidelines for how to manage and oversee cyber risk are just not on the radar for many firms, making cyber security seem like a moving target frequently. Threats and vulnerabilities change frequently.?

Data security breaches and ransomware attacks are becoming more frequent for enterprises globally as a result of the continued spread of sophisticated malware.?

Boardroom solutions in the realm of cybersecurity, a lack of understanding on some topics, and the necessity to address this issue globally are just a few of the challenging difficulties that we must work to find solutions for.?

The First Step: Industry Environment & Regulation

Your Board should start by having a broader view of the industry or sector it operates in in order to build a cyber security plan. What regulations are in place for this industry, and which laws, Acts, or standards ought to apply to your behavior??

?What obligations do you have to different groups of people, such as your customers, partners, suppliers, and members? This knowledge should provide you with a basis for understanding the expectations and laws in your cyber treatment response.?

Next, determine your "Crown Jewels."?

The next objective is to identify your most important data assets, including those that are most at risk (both inside and outside of your organization), most likely to be targeted, and that, if compromised, would cause the greatest harm.?

Consider these crucial resources to be your company's "Crown Jewels"—the information, infrastructure, and software programs that are necessary for day-to-day operations. Hackers can make money off of several forms of data or information that appear innocent. They may consist of:?

• Customer, donor, or trustee information (usernames, email addresses, physical addresses, passwords, bank information, financial records, healthcare information, confidential email threads etc.)?
• contracts that are delicate with clients, vendors, distributors, joint venture partners, etc.?
• Employee log-in information?
• plan of action?
• developing new items or services?
• lists of clients and personnel?

This information may be used to jeopardizes the security of an organization, be sold on the black market, or even be used to steal someone's identity.?

?According to Ranghan Venkatraman [CEO of Pinochle.AI],?there are three different types of companies in the world: those that have been breached and know it, those that have been breached and don’t know it and those that will be breached at any point now or in the future. Therefore, investing in cybersecurity is key.? The C-Suite and corporate boards need to play an active role in being an enabler and advocate for right level of investment capacity and investment velocity in cybersecurity.? ?

Also Read: Maintaining Security while Improving User Experience

Best Chances to Keep Cybersecurity in the Boardroom?

• As technology plays a larger and larger role in social and economic growth, a global and border less information society is emerging, presenting new opportunities for all nations. It is now possible to offer services in the areas of health care, education, business, finance, and public administration thanks to the use of information and communication technologies.?

• If we are to securely conduct e-health business, give citizens access to e-government services, guarantee the necessary level of reliability in commercial and business e-commerce, and maintain the integrity of our systems and resources, the use of cybersecurity in the boardroom presents us with new challenges that we must overcome. digital technology.?

• All nations must be aware of the possibilities for the safe use of ICTs and the difficulties we confront in maintaining reliability and security, as a result of the unlimited nature of boardroom cyber security. Therefore, it is essential that we make efforts to close the knowledge gap in addition to the technology gap by increasing general awareness and enhancing institutional and human capacity.?

Also Read: The Case for Improving API Security

The Difficulties of Keeping Cybersecurity in the Boardroom??

It takes political will to establish and implement a strategy to develop digital infrastructures and services, which includes a clear, effective, verifiable, and manageable cybersecurity strategy, in order to face the complex problems of preserving cybersecurity in the boardroom. For governments and organizations to operate effectively, information security must be at a level high enough to offset technological and information risk.?

The following are associated with the extensive usage of cybersecurity in boardrooms:?

• the inter-connectivity of key infrastructures and the growing dependence on these technologies;?

• the ability of institutions to function gets compromised, which cannot be ignored; institutions are exposed to possible risk, which could potentially jeopardizes state sovereignty; The society as a whole is covered by the board's cybersecurity procedure, and everyone is concerned about it.?

• By creating a computer code of behavior to ensure proper boardroom usage and encouraging a real security policy that establishes the norms that cybersecurity users (facilities, partners, and suppliers) are expected to abide by, cybersecurity may be made more relevant.?

Cybersecurity is to assist organizations in preserving their organizational, human, financial, technical, and informational assets and resources so they may carry out their objectives. The main objective is to make sure they don't suffer any long-term injury. This includes lowering the possibility that a danger will materialize, preventing damage or malfunction, and making sure that following a security occurrence, normal operation can be restored within a reasonable time and cost.?

Cybersecurity in the boardroom exists wherever information technology is used, so a specialist of any discipline may encounter spam, viruses, computer hacking, and many other issues in the course of their professional activities. To respond quickly to these issues and be able to prevent them from occurring, teachers must constantly bring up different facets of information security organization in the context of lessons. The specialist needs to be aware of how far computer technology, information networks, communication, and navigational technologies have advanced currently.?

Do you have a Security concern on your Enterprise? Protect your business from Cyber Security attacks.

Pinochle.ai insurgent mission is to harden an enterprise’s attack surface by a factor of ‘10X’ across Infrastructure, Application, Network, Cloud and Operational Technology (OT). Did we satisfy your quest for the latest in security trends and insight? Let us know if you enjoyed reading this news on LinkedIn, or Twitter. We would love to hear from you!

Speed to Security Intelligence

If you have an incident or need additional information on ways to detect and respond to cyber threats, contact a member of our CIFR team 24/7/365 by phone at 1888-RISK-221 or e-mail at [email protected] or [email protected].