According to the 2018 Data Breach Investigation Report published by Verizon, approximately 73% – nearly three-quarters – of all cybercrime attacks were reported to be on account of monetary data breaches and that too, by outside perpetrators.

While inside attacks are equally as important, there is no strategy that vouches for the total shut-down of an exploited organization when other options are available and can be secured for maximum protection.

Due to the advent in technology, corporate organizations tend to work together with their IT team and cybersecurity professionals in order to mitigate data losses and undergo solutions for challenges faced for the preservation of their security landscape. This is termed as Cybersecurity Governance and is responsible for ensuring the execution and practice of robust cybersecurity management tactics in lieu of objectives, risks, and resources of the enterprise in concern.

Cybersecurity Governance – Framework

The entire IT industry is affected by behavioral, intellectual and technological changes – all of which indulge in providing and creating a robust cybersecurity framework for your network. From developments in cloud and mobile computing to transformations in data analytics, there arose a need to expand organizational boundaries so that the corporate sector too, can enjoy diversities of the internet.

Cybersecurity governance came into play as it gripped the corporate sector with vague and grave cybersecurity threats. There arose a need to embrace the ecosystem of the internet within the boardroom itself.

Here, technology and cybersecurity practices were at par with the advances in the internet including those that imposed potential risks and threats with data breaches and compromise of the enterprise.

With the aid of the National Institute of Standards and Technology (NIST), Cybersecurity Framework organizations can now alter and produce their own cybersecurity governance framework for long term success.

In order to create a cybersecurity governance framework within your institution, it is important that the following two concerns are met and understood.

Keen Organizational Management for Better Compliance

An organization is required to dwell in keen cybersecurity practices that prevent its users and outsiders from breaching its interface. In order to keep a thorough check on users and first-hand employees, it is necessary to take initiatives that will shape the entire posture and structure of the organization.

 

Depending on this structure, the organization will be ensured of its management and of course, of its compliance towards better protection and security of its data.

The Response of Employees to Security Changes

For the formation of the framework, it is necessary that employees, vendors, and contractors understand the basics of establishing an effective security model within the sector. For this purpose, resources have to be spent so that cybersecurity professionals can train the users in maximizing their security approaches.

Secondly, it is necessary that employees understand the consequences of breaching security of their institution. While awareness sessions can be conducted to teach them about workforce and security-related policies, it is also necessary that each employee focuses primarily on sifting the wrong options and short-cuts of success.

Challenges Faced During Cybersecurity Governance

Limited Resources

Cyber-risks are on the rise – many companies suffer the blow on account of limited resources that consequently affect the management, prevention, and response to risks. Airlines Reporting Corporation headed by CISO Rich Licato had something else to negate – the endpoints of its networking system was protected with several layers making it quite hard for attackers to breach the entry.

This is primarily because Airlines Reporting Corp. had been governed with a robust cybersecurity model that kept its systems at bay. Software and hardware updates require funding – and most organizations, especially small businesses either don’t have the resources or don’t pay heed to such needs and therefore, result from malfunctioning cyber practice.

Insider Threats

Half of the security breaches are due to a petty grape turned sour. First-hand data breaches occur on account of transfer or introduction of malicious data within the system, which at times, is mistaken for just a routine discrepancy by other employees.

While there is a possibility that an employee might mistakenly commit the error, there is also a staunch possibility that this might not be an error at all in the first place. This is because there is ambiguity within the workflow system, and access control tactics and management of information flow within various devices aren’t exercised.

At times, confidentiality can be breached when employees use the same device and account for their work-related and personal concerns. While there is a need to monitor and provide basic control access to employees and third parties, it is also advisable to run a thorough check on privileged users since they might leak data and frame the hierarchy.

These challenges can be met if each employee was to use a specific account and device for their business and personal concerns. Work hierarchy is important to highlight which employees have access to important data so that cybersecurity consultants can identify those when breaches occur.

Cybersecurity governance is an enriched and unique model comprising of the understanding based on internal and external risk factors for optimum performance of the organization.