How to address cybersecurity challenges in the best possible manner?

Cybersecurity Issues

Technology has changed the way businesses operate, institutions function, and individuals carry out their activities. It has made our lives simpler and convenient, be it while paying utility bills, buying train/bus/plane tickets, booking cabs, shopping from eCommerce stores, or doing office work from remote locations etc. If there has been a proliferation of devices, platforms, frameworks, and networks to choose, businesses have a flurry of technologies to implement in order to provide the best customer experience. These technologies include Blockchain, Big Data, Artificial Intelligence and Machine Learning, Internet of Things, and Cloud Computing to name a few.

On the other hand, if Information Technology has made the world a global village and facilitated the interchange of information through a range of device platforms, it has also brought with it the spectre of cybersecurity issues as well. According to statistics, the worldwide spending on tackling cybersecurity issues is expected to reach $96 billion by the end of 2018 (Source: Gartner.)

Consequences of cybersecurity issues

Cyber criminals are on a prowl worldwide looking for vulnerable systems and entities to steal sensitive assets. The threat is even more ominous when two thirds of organizations believe that they are vulnerable to security threats from viruses, trojans, malware, ransomware etc. Should these vulnerabilities are not plugged in time and safety measures not implemented, the consequences can be dire, both for the companies and individuals.

• Sensitive information, be it of businesses, clients or customers can be stolen either by cyber criminals working independently or business rivals. The theft can drive the customers, clients and other stakeholders to lose trust in the concerned business.
• Businesses can face costly lawsuits from customers and clients seeking compensation.
• Businesses can fall foul of the regulatory authorities for not plugging their vulnerabilities or not carrying out the security testing of their products or systems.
• Businesses can face stiff penalties from regulatory authorities or courts. These can hit at their bottom lines leading to the loss of competitive edge.

Major cybersecurity issues plaguing businesses

Lack of awareness among stakeholders: Even though the budget for shoring up cybersecurity measures is increasing, a majority of businesses across the world have not yet woken up to the challenge. The prevailing line of thinking is ‘it will not affect us,’ until it is too late. The management, in a majority of companies, seems to be focused on increasing the number of products in the market to stay competitive instead of considering security testing to be an option. In most cases, security testing services are not given enough resources to identify security vulnerabilities let alone plugging them.

Lack of tools: The increasing threat to cybersecurity from newer strands of viruses, trojans, and malware needs better firewalls and the implementation of strict Risk and Compliance protocols. However, companies running on margins and aiming at maximizing the ROI, do not invest in cutting edge firewall solutions.

Lack of expertise: There is a shortage of security testing experts across industry verticals who are adept at devising a robust security testing strategy to make the products security compliant.

How to deal with cybersecurity issues?

Implementing DevSecOps: The challenge to stay competitive and improve the customer experience has led businesses to implement Agile-DevOps methodology to develop, test, integrate, and deploy applications. This has led to the setting up of a seamless CI/CD pipeline wherein customer feedbacks are acted upon instantly and the product quality is enhanced to address the shifting market dynamics. Although this has led to the success of digital transformation initiatives, the security aspect has remained unchallenged.

To tackle the growing threat from cyber criminals and elements like malware etc, software application security testing should be made an integral part of DevOps leading to DevSecOps. According to DevSecOps, in addition to creating a quality culture, each and every stakeholder should be taken on board when it comes to executing application security testing. In fact, ensuring security should become everyone’s responsibility.

Selecting a security standard and devising a suitable security testing strategy: A business should implement an industry recognised security standard such as IEC, CSC20, or NERC CIP NIST among others after analyzing its pros and cons. To meet the standard, a proper security testing strategy should be devised by using relevant tools, processes and techniques.

Set up a budget to upgrade cybersecurity measures: Since a lapse in security preparedness can derail an organization, CFOs in consultation with CIOs should set up a budget to hire the best security testing experts and execute cutting edge cybersecurity testing.

Conclusion

Cybersecurity poses an existential threat to businesses with scores of viruses, trojans, malware, and ransomware wreaking havoc and leading to dire consequences. The best possible way to deal with cybersecurity issues is to integrate the strategies, methods, protocols, tools, and techniques concerning cybersecurity testing across verticals and departments of businesses.

Diya works for Cigniti Technologies, which is the world’s first Independent Software Testing Company to be appraised at CMMI-SVC v1.3, Maturity Level 5, and is also ISO 9001:2015 & ISO 27001:2013 certified.