In order for companies to be competitive, they have to embrace automatization and digitalization. The major disadvantage of this digital transformation is the risk of hacking, cyberattacks, and failing systems. Everyone in a company’s ecosystem, including the board, has to do their part in connecting, working, and communicating securely. A well-thought-out strategy and a faithful implementation of that strategy are essential. The vast majority of companies have taken measures in recent years, but as cyber-risks continuously change and evolve, prevention requires an ongoing focus. On top of that, having a response playbook in place in case of a cyberattack is now part of a good cybersecurity strategy.
Be prepared
According to the 2022 Global Risks Report from the World Economic Forum, human error is the principal cause of data loss. The first line of defense against cyberattacks is educating and preparing everyone in the corporation’s ecosystem. Even with constant monitoring and adjustment of the cybersecurity strategy, it is crucial to have a comprehensive plan in case of a major security breach. Similar to a fire emergency plan, a cyber incident response plan makes sure that in the heat of the moment, everyone knows what to do and that the business continues in whatever way possible under the circumstances.
The cyberattack response playbook
Cybersecurity is not just the domain of IT. Before, during, and after a cyberattack, the core team to lead the organization through a successful incident response include the executives, the board, the legal team, the communications team, and potentially others. With so many factors and actors involved, a thorough cybersecurity playbook addresses specific responsibilities and strategies for the immediate response and potential long-term effects.
When preventative measures fail, the remedy should concentrate on three key areas: detection, response, and communication. As soon as a cyberattack is detected, data gathering, analysis, and forensics should commence. In parallel, the response actions kick in to report, contain, and eradicate the threat(s) with the goal of controlling damage and accelerating restoration. Having a hard copy available of the playbook may seem old-fashioned in this digital age, but can save a lot of time when traditional file-sharing systems are exposed as a result of the attack. Evidently, in the aftermath of the event, the lessons learned are valuable input to incorporate into the plan for the future. Thirdly, throughout the execution, consistent and clear communication is indispensable.
Communication is key
The way a company responds to a cyberattack is often as important as the strategy it put in place to prevent the attack in the first place. It exudes confidence in all stakeholders when the company communicates coherently about the activated crisis plan. Depending on the nature of the cybersecurity breach, immediate communication includes a planned statement to those impacted and possibly incidence reporting to meet compliance or regulatory requirements for the corporations subject to them. Through it all, the incident response team needs to be able to react and collaborate via different channels, as the main communication modes might be compromised by the cyberattack.
With traditional and social media potentially spreading news about the breach, staying in control of the situation includes (only) disseminating the message that was agreed upon. Board members have an important responsibility to guard the accuracy of that message.
Execute the game plan
Cybersecurity is a matter of rationally weighing the pros and cons, of understanding the risks, remedies, and how this fits into the bigger picture. Having a comprehensive view allows the board to make good choices. In a changing data security landscape, the board needs to be involved in preparing and executing the game plan to avoid confusion in case of attack.
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