Why a Cybersecurity Audit is Important
Bulletproof, a GLI Company
Empowering your organization to work more productively while being secure.
Author: Melissa Aarskaug
With new threats constantly emerging, cybersecurity is an ongoing challenge for the gaming industry. By implementing effective cybersecurity controls, organizations can significantly reduce their risk of being compromised. Implementing a cybersecurity framework is a key component of an organization's security strategy and the Cybersecurity Audit assesses the company's implementation of the framework.
A cybersecurity audit is a comprehensive report and validation of an organization's existing cybersecurity systems and controls. It evaluates the organization's cybersecurity practices, identifies gaps, and highlights areas for improvement by comparing the current state to the ideal state outlined in the framework. The audit also provides a means to verify compliance with regulatory requirements.
Top 4 Cybersecurity Audit Trends
Cybersecurity auditors need to stay up to date on the latest trends in order to be effective.
The top four current trends in cybersecurity auditing are:
1. Jurisdictional Changes in Regulations
The regulatory landscape in cybersecurity is constantly evolving. Different jurisdictions may introduce new regulations or update existing ones to address emerging cyber threats. Auditors must understand the diverse compliance requirements and help organizations navigate them.
2. Use of Artificial Intelligence (AI)
Al and machine learning are being used to automate the assessment of cybersecurity risks. Auditors can leverage Al to analyze vast amounts of data for anomalies, potential threats, and vulnerabilities more efficiently than manual methods.
Al can help predict future cyber threats based on historical data and emerging patterns. Auditors can use these insights to recommend proactive security measures.
3. Adoption of Cloud-Based Auditing Tools
Cloud-based auditing tools offer scalability and flexibility, allowing auditors to access and analyze data from anywhere, and collaborate with team members remotely. Al can help predict future cyber threats based on historical data and emerging patterns. Auditors can use these insights to recommend proactive security measures.
4. Focus on Risk-Based Auditing
Risk-based auditing involves identifying an organization's most critical assets and focusing cybersecurity efforts on protecting them. Auditors assess an organization's ability to maintain essential operations in the face of cyber threats or disruptions.
Cybersecurity Framework and Audit
A cybersecurity framework serves as a structured guideline for organizations to follow in their cybersecurity efforts, while a cybersecurity audit assesses the organization's adherence to the framework's principles, identifies vulnerabilities, and helps ensure ongoing compliance and improvement. Together, they form a comprehensive approach to enhancing an organization's cybersecurity posture and resilience against cyber threats.
Staying up to date on these trends ensures that auditors can adapt to the threat landscape and regulatory environment, ultimately helping organizations better safeguard their sensitive data and operations from cyber threats.
Established Valuable Cybersecurity Frameworks:
Cybersecurity frameworks can be a valuable tool for organizations of all sizes. A cybersecurity framework enables an
?organization to follow a guideline of best practices and standards to bolster their cybersecurity defenses, adhere to industry regulations, and protect sensitive data.
Choosing a cybersecurity framework that best fits an organization can be challenging because there are many different ones available, each with its own strengths and weaknesses.
Some of the most popular cybersecurity frameworks include:
Benefits of a Consistent Cybersecurity Framework
There are many benefits for a gaming organization using a consistent cybersecurity framework.
For one, they provide a common language and framework to understand and manage cybersecurity risks. A standardized approach ensures everyone in the organization follows the same guidelines and procedures. This helps promote a shared understanding and communication between IT teams, management, and stakeholders.
Using a consistent cybersecurity framework also helps gaming organizations identify potential threats and vulnerabilities and assess their potential impact. They can then prioritize and address the most critical risks first.
Many cybersecurity frameworks are designed to align with global regulations and industry standards. Gaming organizations can map their framework to specific regulations that are relevant and specific to them.
Compliance with regulations is not just a matter of avoiding fines; it also reduces legal and financial risks associated with data breaches. Using a consistent framework makes it easier to demonstrate compliance to regulatory authorities.
Frameworks often include guidelines for incident response planning. This ensures that organizations are prepared to react swiftly and effectively in the event of a cyberattack, minimizing damage and downtime of business and casino operations.
Using the same framework, regular assessments allow gaming organizations to measure their cybersecurity practices, learn from incidents or audits, and refine their approach.
Consideration for Choosing a Specific Framework:
When choosing a cybersecurity framework, organizations should consider their specific needs and requirements. Key factors to consider include:
In Massachusetts, all gaming operators must comply with the state's data privacy law, which includes implementing appropriate security measures to protect the data from unauthorized access, use, disclosure, or destruction. The Pennsylvania Gaming Control Board (PGCB) requires all gaming operators in the state to undergo a GLi 33b/ GLI19b audit.
Using multiple frameworks from across the globe can be challenging and costly to implement and manage long term. This is especially true for large casinos with complex IT infrastructures.
Casinos also may need to comply with multiple regulations, each of which may have its own security requirements. This can make it difficult to implement and maintain a single security framework that meets all of the compliance requirements. Security frameworks are often not integrated with each other, which can create gaps in security coverage.
A cybersecurity firm that has a governance practice can help you choose the right framework for your organization based on all of these considerations.
Selecting your Cybersecurity Auditing Firm:
Selecting the right cybersecurity auditing firm is very important. A reputable auditing firm possesses extensive knowledge and expertise, allowing them to provide accurate and relevant assessments.
Cybersecurity regulations are subject to change, and often. The right firm keeps up to date with regulatory changes and ensures that your organization remains compliant. Choosing an auditing firm with experience in the gaming industry ensures that they understand the nuances and compliance requirements relevant to your organization.
Objectivity is essential for identifying vulnerabilities that might be overlooked internally. A trusted auditing firm can offer impartial recommendations for improving cybersecurity, without political or internal pressures that might hinder necessary changes.
Reputable auditing firms have access to advanced cybersecurity tools and technologies for conducting thorough assessments. This may include Al and cloud-based tools as mentioned earlier. This allows for efficient and accurate audits, reducing the disruption to your business operations.
Choosing a well-established and reputable auditing firm instills trust among stakeholders, including clients, partners, and regulatory bodies. A firm's reputation can enhance your organization's credibility.
A quality auditing firm doesn't just provide a one-time assessment. They encourage ongoing monitoring and improvement of cybersecurity measures, helping your organization stay ahead of evolving threats.
Keep Your Defenses Up With Regular Cybersecurity Audits and Reviews
Together, a cybersecurity framework guides an organization's cybersecurity efforts, while a cybersecurity audit assesses its adherence to the framework's guidelines, identifies weaknesses, and aids in continuous improvement. This combined approach helps gaming organizations enhance their cybersecurity posture. However, this is not a one-and-done approach.
Regular cybersecurity audits help identify new threats and vulnerabilities that may have emerged since the previous audit. This proactive approach enables organizations to address security gaps before they are exploited by cyber attackers. They provide assurance to stakeholders that cybersecurity is taken seriously, aid in resource allocation, and help with prioritization of identified risks and vulnerabilities.
Annual cybersecurity audits or reviews are often required to demonstrate compliance with industry-specific regulations and standards. Failure to comply with these regulations can result in legal consequences and fines, making audits a critical component of regulatory compliance.
These audits evaluate an organization's incident response preparedness, helping identify weaknesses in detecting, responding to, and recovering from cybersecurity incidents. By comparing audit results from year to year, gaming organizations can gauge the effectiveness of their security measures and make necessary adjustments to their cybersecurity strategies.
Regular cybersecurity audits are a critical component of a proactive cybersecurity strategy, helping gaming organizations stay vigilant, compliant, and prepared in the face of evolving cyber threats.
Bulletproof has the skills, expertise, and industry knowledge to help you adhere to regulatory requirements and stay secure. Visit bulletproofsi.com/gaming to learn more.