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Critical Corporate Cyber Security Risks-A Data-Driven List | Briskinfosec
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Critical Corporate Cyber Security Risks-A Data-Driven List

Introduction

              It is a well-known fact that most of the corporate organisations have been the target of black-hat hackers and hacktivist groups, and they were experiencing data breaches, server compromise etc. over the past few years in large scale. Have you ever wondered why all these corporate biggies with all the technology and infrastructure, merely let the hackers inside their network for stealing customer data and sensitive files??

This is because these corporate organizations were lacking the knowledge and awareness of cybersecurity and data protection. Besides that, these organizations were also requiring the knowledge to understand the threat vectors on the internet and its risk factors. For example, Equifax firm data breach of customer data, due to apache strusts vulnerability. In this blog, we will be discussing ten critical Cybersecurity risk for a corporate environment. This blog describes the following

Contents:
      • Failure to cover cybersecurity Basics
      • Lack of Information Security Policy
      • Bring Your Device (BYOD) policy
      • Lack of Information security Training and awareness
      • Lack of recovery plan
      • Lack of Knowledge of Security Risk
      • Ageing Infrastructure
      • Lack of accountability
      • Constantly evolving threats and risk
      • Corporate Inflexibility
      • Conclusion
      • References

Failure to cover cybersecurity Basics

Most of the organisations fail to cover its infrastructure with a basic level of cybersecurity controls to prevent threat vectors and breaches. This lack of cybersecurity measures is giving a large attack surface for the hackers to use a simple common vulnerability to compromise a server or get a foothold onto internal network.

The top 10 external vulnerabilities accounted for nearly 52 percent of all identified external vulnerabilities and thousands of vulnerabilities account for the other 48 percent” a source from NTT group threat intelligence report says.

Another example would be lacking to patch all the servers and workstations promptly, which would have cost for 78% of internal vulnerabilities, which can be exploited by insider threats or various other attack methods like social engineering.

Lack of Information Security Policy

Information Security Policy is a must have on the list of corporate management policies for an organisation. An information security policy provides a complete overview of an organization’s security posture and also it gives a right amount of knowledge to the employees about the security of their devices.

As a part of information security policy, companies can

  • Develop policies, procedures and establish governance
  • Identify risks related to cybersecurity
  • Protect the network and data of the companies.

Bring Your Device Policy (BYOD)

Bring Your Device (BYOD) is an organisation level policy which allows employees to bring their own devices like laptops, mobile phones etc., into the organisation premises. BYOD policy was implemented with the aim of giving employees better conditions to work and flexibility.

Even though BYOD provides flexible working conditions, an employee’s device, for example, his mobile phone may become a threat vector. BYOD policy is not secure which may be due to factors like connecting an infected mobile phone or laptop to the company network, unsafe downloads, attackers serving phishing pages and malware through emails etc.,

Lack of Information security Training and awareness

Giving awareness training and proper information security knowledge to all the employees of a company is one of the critical points to be considered while creating the HR policy of the organisation. Security training for both current and new employees is a high priority for any organisation.

Lack of information security training may lead to data breaches and threats to the company either by social engineering attacks carried out on employees or other ways like spear phishing emails.

Lack of Recovery Plan

It is essential for any organisation to have a backup recovery plan in their incident response policies so that they can be prepared to mitigate any cyber attacks and data breaches without losing much of its data, money or reputation.

Poor recovery plan or lack of recovery plan leads to some disastrous results during a data breach as incident response alone is not sufficient to block the attacks.

Lack of knowledge on Security Risk

Security Risk is the term used to refer to the impacts and repercussions a company has to face once its data and network was breached by some group of hackers and threat vectors.

Risk Assessment and Management are significant fields of information security which gives a right amount of knowledge on assessing and mitigating the risk of data loss and network breaches. Organizations must have risk assessment and management teams in place to reduce the impacts of a hack.

Ageing Infrastructure

A well built and secure infrastructure is also a necessary component of information security. It's not always only about securing and hardening the hardware and software of the organization. It is also highly essential to have a secure infrastructure to meet the requirements of cybersecurity compliance.

Lack of accountability

Lack of accountability on company’s employees is another primary reason for company’s exposure to cyber threats and data breach. Being able to trust your employees and colleagues is vital in moments when the pressure is high, and the stakes are even higher. You need to have designated people in your company who can make the right decisions when the time comes. This accountability ensures a better security posture to the company.

Constantly Evolving Risk and Threats

The advancements in Information technology has provided a lot of uses for the end consumers and people who work on IT related infrastructure. But the fact every company fails to understand is that with the advancement of technology, the threat vectors and the vulnerabilities associated with the technology also evolves. The more the user-friendly is the application, the more it will be vulnerable to threats vectors.

Corporate Inflexibility

When the organisation is significant (with a lot of employees and sectors), it will move slowly and takes a long time to resolve every request and process every procedure. The problem with inflexibility in a corporate environment is that, if a data breach or network breach has happened, it will take a lot more time to assess the vulnerability, and then to mitigate the risk

The problem with inflexibility is to mitigate the risk and resolve the vulnerability by patching the servers and network, a low-level security engineer or analyst needs to get approval from his top-level managers, where the manager needs to get approval from his high-level chief information security officer and management.

Conclusion:

The above-explained points are top 10 critical cybersecurity risks that every corporate infrastructure is facing in today’s modern world. These problems don’t seem to be depleting by time but are incessantly proliferating. As a result of these dynamic catastrophes, it is of unavoidable necessity to approach a dexterous cyber security vendor for securing the data’s of your organization before the reputation of your organization becomes compromised. We, are continually helping the corporate organizations to resolve these risks by giving them constant and cutting edge information security services and supporting them through qualified services like Vulnerability Management, Penetration Testing etc.

References:

https://heimdalsecurity.com/blog/10-critical-corporate-cyber-security-risks-a-data-driven-list

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