The Importance of Risk Mitigation: Addressing Neglected Cybersecurity Issues in IT

As technology advances, the risk of cyber threats has also increased significantly. Every organization, regardless of size, is vulnerable to cyber-attacks. As an IT professional, it is imperative to minimize IT risk by addressing any cybersecurity issues that may have been neglected in the past. In this article, I will discuss the importance of risk mitigation and the consequences of neglected cybersecurity issues. I will also cover commonly neglected cybersecurity issues in IT and some practical ways to address them.

IT risk mitigation and cybersecurity

IT risk mitigation is the process of identifying, evaluating, and controlling potential risks in an IT environment. Cybersecurity is a critical aspect of IT risk mitigation, and it involves protecting computer systems and networks from unauthorized access, theft, damage, or disruption. Cyber threats have become increasingly sophisticated and complex, making it more challenging to mitigate risks effectively. Neglected cybersecurity issues can have significant consequences for an organization, including financial losses, reputational damage, and legal liabilities.

The consequences of neglected cybersecurity issues

Neglected cybersecurity issues can result in severe consequences for an organization. Cyber-attacks can lead to the theft of sensitive information, including customer data, trade secrets, and financial information. This can result in significant financial losses and reputational damage. Organizations may also face legal liabilities and regulatory fines for failing to protect sensitive information adequately. Neglected cybersecurity issues can also lead to system downtime, impacting business operations and resulting in lost productivity.

Common neglected cybersecurity issues in IT

Several common cybersecurity issues are often neglected in IT environments. These issues can lead to significant risks and should be addressed promptly.

Ownership

One of the most commonly neglected cybersecurity issues in IT is ownership. Proper ownership is crucial for moving solutions forward. Here are three ways ownership issues could be hindering your progress:

• Wrong owner: Actions may be assigned to the wrong people, leaving them abandoned. Alternatively, the actions may be transferred to someone who lacks the necessary expertise to handle them.
• Lack of management interest: Management may not show interest in managing risks, indicating that the risk is too small to invest in.
• If you found it, you fix it: In some organizations, the person who reports a problem is expected to fix it, which is not an effective IT security risk management policy.

Review your IT risk management tracker to address these issues and make necessary changes with active information and context transition. Consider appointing subject matter experts as co-owners for tasks assigned to non-IT and non-security roles. Encourage staff to report concerns, add to a centralized IT risk tracker, and determine the best roles to investigate and implement solutions.

• Management interest (the lack of): The absence of management interest can be a sign that you should consider accepting the risk. When the management team ignores an IT risk for an extended period, it may suggest that they consider the risk too insignificant to warrant investment due to its low likelihood of occurrence or low potential impact. Simply leaving the risk unaddressed can be detrimental to your organization.

Too Big projects

When projects seem too big, it can be tempting to leave them unaddressed. However, it's important to only add action items to an IT risk management parking lot with careful consideration. Instead, break down significant security initiatives into smaller, manageable actions to reduce risk.

• Access audit: If implementing multifactor authentication across your organization seems overwhelming, prioritize it for privileged access and high-value applications while enforcing long passwords elsewhere. Similarly, when auditing accounts and access, start with a few high-priority areas of manageable scopes, such as a department handling PII or applications with critical data. Set realistic timelines and target dates, and use tools like Azure Active Directory for centralized control and auditing capabilities. Don't forget cloud applications managed by individual departments and ensure they follow standard processes for access management.

Solution Challenges

To address lingering IT risks, it's essential to reassess the plan in the context of your current environment, staffing, and budget. Engage subject matter experts (SMEs) in the conversation to define the problem and evaluate possible solutions. Don't limit yourself to a specific solution without evaluating other viable options. By involving SMEs and considering all possibilities, you can find an effective solution that fits your organization's specific needs.

• Have two plans: While the risks of outdated operating systems (OS) and patching gaps are widely recognized, many organizations rely on legacy systems that are essential to their operations and cannot be easily updated or replaced. These systems may seem unfixable and be left to linger, but even one obsolete OS can pose a significant risk to an organization if not replaced with current patched solutions. To address this issue, take a two-pronged approach. Firstly, reduce IT risk in the short term by disabling all unnecessary TCP/UDP ports and isolating the system from the business network onto a secured VLAN to minimize the possibility of compromise. Secondly, start planning for the necessary upgrade or replacement. While this may require a significant investment of time and budget, it's crucial to begin the process sooner rather than later.

Importance of risk mitigation in IT

The importance of risk mitigation in IT cannot be overstated. Effective risk mitigation strategies can help organizations minimize the impact of cyber threats and reduce the likelihood of successful attacks. Risk mitigation should be an ongoing process that involves regular risk assessments, vulnerability scanning, and penetration testing. It is also essential to have policies and procedures in place to govern access control, data protection, and incident response.

Monitoring and maintenance

Cyber threats are constantly evolving, making ongoing cybersecurity monitoring and maintenance critical. It is essential to keep systems up-to-date with the latest security patches and software updates. Regular vulnerability scanning and penetration testing can help identify potential weaknesses in the IT environment. Organizations should also have incident response plans to respond to cybersecurity incidents promptly.

In conclusion, neglected cybersecurity issues can have severe consequences for an organization. It is essential to minimize IT risk by addressing any cybersecurity issues that may have been neglected in the past. Common neglected cybersecurity issues in IT include Ownership Issues, Access audit, and Solution Challenges. Effective risk mitigation strategies should be an ongoing process that involves regular risk assessments, vulnerability scanning, and penetration testing. Ongoing cybersecurity monitoring and maintenance are also critical to minimize IT risk. As IT professionals, we are responsible for ensuring that our IT environment is secure and protected from cyber threats.