Many businesses have found benefits in moving online. Even those that still have brick-and-mortar stores have discovered the benefits of having an online presence. Even if a company doesn’t conduct business online, it may save valuable data in the cloud or online servers. This has led to a dramatic increase in cybercrime.
With the rise in cyber attacks on businesses, CEOs can no longer sit aside and expect their IT team to handle everything. Now, CEOs have to take an active role in battling security threats. But what does that mean?
In this article, we’ll look at the CEOs’ responsibility regarding cyber security and how they can help battle these threats. We’ll also cover some tools that can be used, such as a residential proxy, firewall, SSL encryption and other measures to bolster security efforts.
Who Is Responsible After a Cyber Attack?
This is where things can become tricky. For example, if the IT team recommends using a proxy to improve security but the CEO is concerned about costs, even if it’s a reliable cheap residential proxy. So, the CEO says to use a free residential proxy or nothing until it can be worked into the budget. The IT team’s hands are tied as they know using free proxies is a massive risk. So, who is responsible after a cyber attack or data breach?
Many CEOs believe the IT department is responsible for any breaches or attacks. In contrast, the IT department may feel that the CEO is not taking responsibility for their part.
The fact is that when a data breach happens, the media and other stakeholders very rarely blame the IT department but instead look to the CEO for answers and explanations.
In reality, it’s not entirely as black and white as many assume. Most CEOs don’t have the technical capabilities to effectively analyze and implement the security procedures needed to protect a company from cyber threats. This is why an IT department is appointed. However, an IT department can also only do so much without the input and direction of the CEO. It is critical for open communication between the CEO and the IT department.
How Can CEOs Handle These Attacks?
Preventing cyberattacks before they even happen is the best course of action. But this is not always possible, never mind how many security procedures are put in place. As technology grows and advances, so do the skills and capabilities of cybercriminals. That is why having a strategy in place to deal with cyber attacks is just as important as implementing strategies to avoid attacks from happening in the first place.
The reality is that many CEOs already have the skills necessary to handle cyber attacks. They just might not realize it. As a CEO, you already have the leadership skills necessary to navigate a security breach. By asking the right questions from your IT team, you can quickly identify the best way to handle the situation.
Predicting when an attack might happen is nearly impossible. This is why it is so important for CEOs to prepare strategies to handle and deal with any attacks. When trying to identify which types of attacks you need to prepare for, take a look at the company’s most important business activities. Focus on the types of attacks that might target these activities first.
As a CEO, you don’t have to be caught off-guard by a security attack. You can ensure that you have the necessary procedures in place to deal with any attack. Ensure that you can technically respond to an attack by having a skilled and well-trained IT team, response procedures and practices in place. These are all things that you can set in motion long before an attack happens. Also, once an attack does happen, knowing that you had measures in place can make a big difference to the outcome of the situation.
How Can CEOs Get Involved in Cyber Security?
There are a few different ways that CEOs can become involved in cyber security efforts. These include:
- Ensuring everyone in the organization gets cyber security and awareness training.
- Hiring an independent company to do a cyber risk assessment.
- Conducting penetration tests to identify any weaknesses.
- Requiring an effective software patch management program.
- Ensuring the business has full-time monitoring, detecting and analysis capabilities for information systems.
- Ensuring the company has a complete and appropriate cyber breach incident response plan.
- Hiring an independent firm to conduct a cyber liability insurance coverage adequacy evaluation.
- Establishing information security key performance indicators.
- Ensuring the company has a documented and tested disaster recovery and a business continuity plan in place.
- Mandating additional layers of security such as encryption, a residential proxy, two-factor authentication, restricted access to valuable information and more.
In this technological age, CEOs can no longer hide from cyber threats. They have to become involved in the process and work with their cyber security and IT teams to ensure that the company has the appropriate prevention methods in place. They also need to ensure that the company can handle these situations when they occur.