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What is interesting about last weeks incident is there appears to be no real solutions put forward to prevent further crisis. Solution that can be delivered where rubber meets the road.
The digital gene is well and truly out the bottle, and there’s no way of putting it back in. The issue at hand is bigger than enterprises can address; it is bigger than governments can address
There have been few instances in history where public and private partnerships have worked on the scale needed to address the problems at hand, except during wartime. The public and private sector have competing agendas, profit and national security don’t coexist easily.
Also there’s the 99% problem to be fixed. That’s 99% of organisations are SMBs. That can’t afford to manage complex risks such as ICT or cyber.
So what is the solution?
1. Is it time to evaluate digital and cyber risk as part of a financial audit by CPAs?
2. Require companies to Implement plans to manage basic cyber hygiene? Improving maturity over time?
3. Regulate cyber risk consistently gloy. Enforce ICT/ cyber risk board goverance? (EU DORA, NIS2)
4. Strengthen supply chain contracts to include cyber standards required to conduct business? (cyber based on information types – DFARS 252.204-7012)
5. For the insurance industry to move ‘Left of Bang’, supporting clients across the whole risk transfer value chain?
Veritas GRC we’ve written and presented all the above to a range of government agencies and insurers.
What we currently do to manage ICT and cyber risk ain’t working, what choices are there.
@Thaddeus Dziekanowski Brian D. McCarthy Rachel V. Rose, JD, MBA Ryan Buckner Faisal Khan Bob Dix
#cybersecurity #cyberriskmanagement
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