The Business Continuity Institute has published the third edition of the Cyber Resilience Report 2018, which has become an important resource for business continuity and resilience professionals to develop their cyber resilience strategy and raise awareness across the organization.
Cyber security incidents have several impacts on organizations and society, both on a physical and non-physical level. 66% of the surveyed organizations experienced at least one cyber security incident in the past year, while 14% admit not knowing how many cyber security incidents they were subject.
The financial cost of cyber-attacks has grown noticeably in the past few years and organizations are enduring higher losses also from the reputational point of view. Therefore, it is important for organizations to build an effective cyber resilience strategy.
The best way to protect organizations from the cyber threat is to invest in people and preparedness. In fact, most breaches happen through phishing or social engineering, due to a lack of awareness on the methods used by cyber criminals to operate. Investing in training, exercises and awareness campaigns helps people develop the right skills to build a cyber resilience strategy.
To face a cyber-attack, organizations need to be agile, flexible and strategic in their response. This means that the executive team needs to be involved in the preparation and planning to ensure that the whole organization is ready to adapt their response, according to the necessity.
Business continuity has a well-defined role within the cyber resilience strategy of an organization. Its main benefits include ensuring a faster response, detecting attacks earlier and providing an effective PR strategy.
Read the full report at: https://www.thebci.org/resource/bci-cyber-resilience-report-2018.html