The unprecedented technological advancement seen in digital communications over the last two decades has become a double-edged sword for organisations; increased customer engagement vs increased security risks. As a result, information security has gone from being a tertiary IT function to a significant operational risk.
A recent survey in the UK from the Department for Business, Innovation and Skills, found that 82% of top management and directors in UK organisations have security as a high or very high priority on their organisation’s agenda. Unsurprising, considering that 90% of large organisations in the UK suffered a breach in the last year.
We’ve now reached the tipping point in our online age, where cyber security ceases to be just an IT issue or a policy issue or a compliance issue. It’s now a matter of corporate risk with millions at stake, costing an organisation between £1.46m and £3.14m per incident.
Of all the consequences related to cyber threats, those surveyed said that protecting customer information, protecting against reputational damage, data breach costs and theft of intellectual property were the top security concerns.
If senior management and internal security experts are being held responsible for brand security, people training will be essential to helping them meet those objectives. It’s an opportunity for CISOs to take ownership over key operational risks and demonstrate the efficacy of good security practices.
However, CISOs must tread lightly. At the end of the day, businesses exist in order to earn revenue. As much as the business world is becoming captivated with security, ultimately the bottom line will play a key role in determining new security initiatives.
Unfortunately for security practitioners, the very technologies that are driving modern businesses like cloud computing, digital advertising, virtual supply chains, etc., are causing security problems. This is mainly a result of security being concentrated at the perimeter and the industry’s heavy reliance on firewalling and endpoint sensors.
Graphic from the UK 2015 Information Security Breaches Survey.
The problem with perimeter based security is that modern business technologies transmit/store data and host branded assets (websites, mobile apps, social sites, ads, etc) outside of the perimeter. Thus a security gap is left in between organisations and their digital touchpoints.
Brand protection starts with securing the digital assets that are most vital to the business, particularly those interacting with customers. The key is maintaining an active inventory of all digital assets and continuously monitoring for outward facing threats like defacements or strategic, web-based attacks.
CISOs have the opportunity to make a meaningful impact on brand risk by leveraging a new technology, purpose-built for securing digital assets. RiskIQ develops the tools necessary to keep up with modern technological trends that support the business while simultaneously improving security.
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Ben Harknett is VP of EMEA, RiskIQ.
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