Malicious threats such as hacking, phishing, ransomware, and DDoS cyber attacks can potentially impact any organization, regardless of the size. Such incidents may result in service interruptions, brand image crisis, and expensive regulatory penalties related to data breaches.
To illustrate this point better, take the 2020 ransomware attack against Garmin. This cyber attack brought operations to a standstill for days and is estimated to have cost around $10 million in ransom payments alone. This is in addition to the customers’ trust lost and additional investments in cybersecurity.
Enterprise level companies might be able to bounce back, but for small businesses, the damage inflicted is often catastrophic, and their very survival can be in danger. This highlights the fact that organizations must start taking cyber security seriously and focus on building resilience.
With the increase in the occurrence and sophistication of cyberattacks, cybersecurity technologies, and services will become paramount. To combat this, organizations need to ensure that they are investing in high-end security protocols and regularly training employees.
The truth is, even though big businesses are better equipped to take the hit of these rightly termed economic shocks, smaller companies do not have much shielding against them and face dire consequences that call into question their very existence.
In this blog, we’ll try to understand cyber resilience and cybersecurity in detail to dispel confusions surrounding the topic.
What is Cybersecurity?
In simple terms, cybersecurity is the practice of defending computers, servers, mobile devices, electronic systems, networks, and data from digital threats. For example, you could put locks and security cameras in your house.
Effective cybersecurity entails simple tools such as anti-virus software, penetration testing, fraud detection systems, API scanners and available updates. However, the most important thing is to train staff about threat awareness. An educated employee base is a strong line of defense from cyber incidents.
Key Components of Cybersecurity — and How to Reduce Them
Understanding the key components of cybersecurity is essential for protecting digital assets. Here are the common components of cybersecurity:
1. Network Security
It safeguards the integrity and usability of networks by employing measures like firewalls, intrusion detection systems, and securing network configurations.
2. Endpoint Protection
Endpoint protection entails antivirus or anti-malware tools to protect individual computers, smartphones, and other stand-alone devices from infection.
3. Data encryption
This is about scrambling sensitive user data so only authorized users can read it, protecting against data breaches or unauthorized access.
4. Security Awareness and Training
This program trains employees on possible threats and how to protect against them, resulting in an improved security culture that empowers users to identify and respond to cyber or data risks.
5. Incident Response and Management
This program empowers organizations to respond appropriately to cyber incidents, limiting their impact, aiding response efforts, and ensuring business continuity.
What is Cyber Resilience?
Cyber resilience is more than just protection; it is the ability of an organization to recover from cyberattacks. Cyber resilience involves identifying threats, planning recovery, and being prepared to adapt.
The National Cyber Security Council (NCSC) states that organizations should have plans in place for not only responding to potential attacks but also withstanding the attack while maintaining critical operations during an incident.
They should be also able to recover quickly without a high risk of knee-jerk reaction damage and adapt systems and practices on the fly as new dangers surface.
Key Components of Cyber Resilience
Organizations can build a robust cyber resilience framework that not only defends against attacks but also ensures operational continuity in the face of adversity.
They must be prepared to face cyber threats. Cyber resilience enables them to withstand, respond to, and recover from these incidents effectively.
1. Preparedness
Establishing processes to anticipate potential cyber incidents and creating response plans.
2. Detection
Implementing systems to identify threats in real-time, enabling quick responses to incidents
3. Response
Developing a clear plan to mitigate the impact of cyber incidents, ensuring business continuity during disruptions.
4. Recovery
Ensuring that organizations can swiftly restore operations and data to normal after an attack.
5. Adaptation
Continuously improving strategies based on lessons learned and evolving threats to enhance overall resilience.
Interdependence Between Cybersecurity and Cyber Resilience
It is clear the relationship between cybersecurity practices and necessary resilience strategies is a two-way street, and organizations must find an appropriate balance if they want to safeguard digital assets while upholding operational continuity.
While cyber resilience emphasizes an organization’s capability to bounce back from incidents and continuously perform essential functions, the former acts as the primary defense against threats.
A notable example is the 2021 ransomware attack on Colonial Pipeline. After all, the breach that caused major fuel supply chaos in the Eastern U.S. from the outset was caused by ineffective cyber hacking measures.
However, Colonial Pipeline did have cyber resilience strategies in place, including proper incident response plans, which helped restore operations quickly and limit additional impact.
It speaks to the power of cybersecurity resilience in stopping attacks and how even the most thorough defenses may not be enough.
Hence, organizations need to adopt both robust cybersecurity measures to prevent threats and the right cyber resilience practices so that recovery can take place quickly when such incidents do occur.
Together, they form a complete solution for tackling cyber risks in an ever-complex threat environment.
Why Integrating Cybersecurity & Cyber Resilience Matters
Cybersecurity is all about maintaining robust defenses against attacks,while cyber resilience allows organizations to ensure business continuity and get back to normal operations when incidents happen.
This combination of the two can yield a strong safety net for data protection and business continuity.
The 2021 ransomware attack on Colonial Pipeline is a persuasive case study highlighting the necessity of such integration.
Despite the company implementing cybersecurity protocols, hackers were able to identify weaknesses and execute an attack that resulted in significant disruptions of fuel supply throughout the Eastern U.S.
Understanding the Different Roles Within Organizations to Ensure Cyber Resilience
In cybersecurity and cyber resilience, different levels in a company have unique but connected roles. At the top, the Chief Information Security Officer (CISO) leads the efforts, making sure the cybersecurity plan is in place and the company follows the rules.
This role is important to make sure security goals match the company’s business goals. In the middle, roles like Security Managers and Security Analysts put policies into action and check for any weaknesses in the systems.
They look for threats and handle daily tasks to keep the company safe. On the front lines, Incident Responders and Security Engineers carry out plans during cyber incidents and create protections to stop breaches.
All these levels need to work together to build a strong approach to cybersecurity. For example, during a cyber incident, the CISO decides on the strategy, while the operational teams carry out the response, showing how important teamwork is at all levels of the organization.
Final Thoughts
Considering the increasing threat incidents, organizations must recognize that building cyber resilience is a continuous journey rather than a one-time effort. Furthermore, it’s not “cybersecurity vs cyber resilience”, it’s “cybersecurity and cyber resilience”.
This proactive approach enables businesses to not only defend against attacks but also recover swiftly when incidents occur.
Looking for a partner who can help build a proper cybersecurity and cyber resilience framework. Contact us now to learn more.
