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Extreme Hacking | Sadik Shaikh | Cyber Suraksha Abhiyan

Credits: IndiaTimes

Very nice article and really explained well by Saket.

It has hardly been a few weeks since one of the biggest breaches ever—the hack of little-known Equifax, an American consumer credit reporting company—which compromised the personal data of about 145 million Americans. What it means is that a mind-boggling 45% of all Americans were affected, with their sensitive personal data now in the hands of nefarious elements on the internet.

The Equifax hack holds many lessons for all of us in business. If you have been thinking of cyber security as a technology problem and not a business issue, think again. Equifax’s stock tumbled from $142.7 to a low of $92.98 post the news of the hack becoming public. The stock has since regained some of the lost ground but it does serve to act as a cautionary tale of the impact of not taking cyber security seriously and not investing enough into what is going to be one of the pillars of business going forward.

Measuring security
For the leaders who are aware of the threats that surround them, one of the most difficult decisions to make is to figure out exactly how much money needs to be ploughed in to make their company secure. What is that magic figure, if there is even one? What is the level of security that the company needs? How much needs to be invested in getting there? How do you as a leader track the investments that go into cyber security?

There are many chief executives I have met who have complained about those in charge of IT security in their company coming back asking for more funds to counter newer threats and to make fresh investments in security products. It is a huge concern for them considering the money that is being asked to be diverted is the money that could directly beef up the bottom line. There is absolutely no perceptible return from investing money into cyber security, until there is. What do I mean by that?

Cyber security as a selling proposition

Let me explain. Being a more secure company that demonstrably cares for user data and can repel attacks will soon become a selling proposition. With the glut of news of breaches, people are becoming aware of the perils of a digital world, and want to be associated with brands that are actively seen as protecting themselves and the interests of their users. Eventually, I expect this to be as crucial in the consumer decision-making process as the idea of trust which has come to define our choices when it comes to sectors like banking.

Take the case of a client of mine, Singapore-based DBS. The bank has invested massively into cyber security and clearly has benefited from making sure that the public knows that it takes cyber security investments seriously. Positioning itself early as a leader in cyber security, it has stolen a march over its rivals. So much so that their advertising boldly makes the claim that they are “Asia’s safest”.

Insurance will mandate measurability
One of the defining trends that will help the world be more secure is the emergence of cyber insurance, whereby insurance companies will provide products that can soften the blow. But for them to understand your risk profile, measurability of cyber-security readiness becomes an important factor. Security monitoring is a very big piece of the jigsaw of cyber security. So much will depend on the ability to measure security preparedness. Insurance works on statistics and numbers and qualifiable ways to look at cyber security will help the spread of cyber insurance tremendously.

It comes down to business logic
Technology is the cornerstone of any transformation in this digital age. Fifteen years ago, investing into digital meant that processes were automated—money went into hardware like computers and printers. Digital spends were looked at as a backend cost. Today it is part of the cost of doing business. Technology allows you to do more business. The more money you put in digital, the more you reach out to customers, the better their experience and the stronger your bottom line.

Cyber Security is an inevitable foundation on which businesses stand in the digital age. Today, negotiation on cyber security is in reality akin to haggling in a fish market. The values that are discussed are not anchored to measurable indices which take into account threats that swirl around the digital ecosystem and the preparedness of companies. The evolution of a measurable number should help make the decision of investing in cyber security a more informed one.

Do you really need it?
Today, there is much fear-mongering on cyber security. Not all companies need to have the highest levels of cyber security. For example, a financial-services company would obviously always need to have a much higher level of security than a company that makes utensils. Measurability of cyber security will help companies identify the level of preparedness they must aspire to in relation to their sector.

 

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Sadik Shaikh | Cyber Suraksha Abhiyan, Ethical Hacking Training Institute, CEHv9,CHFI,ECSAv9,CAST,ENSA, CCNA, CCNA SECURITY,MCITP,RHCE,CHECKPOINT, ASA FIREWALL,VMWARE,CLOUD,ANDROID,IPHONE,NETWORKING HARDWARE,TRAINING INSTITUTE IN PUNE, Certified Ethical Hacking,Center For Advanced Security Training in India, ceh v9 course in Pune-India, ceh certification in pune-India, ceh v9 training in Pune-India, Ethical Hacking Course in Pune-India