Recent Incidents Have CISOs and Everyone Else Talking
Over recent months, we have seen hundreds of companies compromised as a result of massive data breaches, and defective software updates causing widespread system outages. Threat actors immediately launched social engineering campaigns to trick people seeking technology fixes into sharing sensitive information. For example, and to ensure that threat actors arent able to do even more harm, Recorded Future identified approximately 25 new malicious phishing domains using the recent CrowdStrike incident as a lure which weve published to all of our customers as an indicator note.
And as the Paris Olympics began last week, Recorded Futures Insikt Group has identified three key risks: cybercriminals targeting critical sectors with ransomware, hacktivists attempting disruptions due to geopolitical conflicts, and state actors engaging in espionage and influence operations.
While each of these events or risks might seem unique, they actually have two things in common. They all have global repercussions, and were sure to see events on a similar scale happen again in the future. Thats why, when a cyberattack or IT incident occurs, organizations need to think beyond the immediate event and its resolution to identify the potential trickle-down effects that can occur. What are the second- and third-level ramifications of these types of global events?
Whats keeping CISOs up at night?
With every new security breach, IT incident, ransomware attack, or social engineering attack that hits the news cycle, boards of directors and other business leaders naturally reach out to their CISOs with questions. In addition, these recent high-profile incidents have exposed a stark reality: our drive for efficiency and standardization has created a landscape riddled with potential single points of failure.
For example, as weve seen companies seeing their data exposed, the implications of breaches extend far beyond a companys immediate operations. The potential exposure of customer data, internal documents, intellectual property, and strategic plans can hold long-lasting effects on competitiveness and reputation. Board members want to know details about whats happening, all the possible ways the business might be affected, and how the security team plans to beef up defenses and mitigate similar risks. They want to feel certain that theyre doing their due diligence, asking the right questions, and helping the executive team to time investments appropriately.
In addition to managing the technical aspects of security, CISOs increasingly must navigate a complex patchwork of local, national, and international regulatory and compliance regimes.
This regulatory landscape is in flux, adding another layer of complexity to the CISO's role. Case in point: two weeks ago, a judge struck down much of the US Security and Exchange Commission's (SEC) fraud case against the former CISO of SolarWinds. This ruling adds to the increasing uncertainty about how cybersecurity is regulated in the US.
With all this uncertainty, theres no shortage of potential questions keeping CISOs up at night. The answers lie not in reactionary measures, but in a fundamental shift towards resilience.
Resilience is the Word of the Year
Today's CISOs are navigating uncharted waters, facing unprecedented professional and personal risks. They need to clearly articulate the new landscape of risks to leadership, emphasizing the need for comprehensive resilience strategies. Key considerations include:
- All-hazards planning: Assess and rank various hazards based on their likelihood and potential impact.
- Comprehensive dependency mapping: Identify not just direct service providers, but underlying infrastructure dependencies.
- Cascading impact analysis: Model potential "splash damage" from major provider failures, including second- and third-order effects.
- Communication continuity: Establish backup channels independent of potentially compromised systems.
- Trust and reputation management: Develop strategies for rebuilding trust after breaches.
As we chart this new reality, CISOs must lead the charge in reframing the conversation. It's no longer just about preventing breaches or minimizing downtime. It's about building organizations that can adapt, evolve, and thrive in the face of cyber disruptions. In a world where a single point of failure can have cascading global effects, resilience isn't just an IT issue it's a business imperative.
Source: RecordedFuture
Source Link: https://www.recordedfuture.com/blog/recent-incidents-have-cisos-talking