The gravity of a robust cybersecurity policy for a smooth and secure functioning of an organization cannot be undermined, especially with the growing complexity in the contemporary cyber-centric environment. The Cyber Security forum scheduled to be conducted from 6th June to 7th June 2023 in Berlin, Germany shall shed light on the exact significance, challenges, and opportunities associated with the modern cybersecurity trends.
A well-developed policy offers an all-around defense against the increasing number of cyber threats, thus securing sensitive data, and upholding the reputation and trust of stakeholders.
It also helps maintain business continuity and provides a proactive plan of action for resolving potential security breaches and complying with legal regulations.
5 Must-have Cyber Security Policies For Every Organization: Cybersecurity Forum 2023
Following are the five essential policies that every organization must have in order to ingrain security and efficiency in the very fabric of their operations.
1. A Concise Acceptable Use Policy
An Acceptable Use Policy, widely known as AUP, aims at mitigating the risk of human-made error, which is considered a major contributor to 95% of cybersecurity breaches. Some of the vital aspects to be covered in an AUP are fundamental data security practices, like prohibiting password sharing via email and outlining restrictions on illegal activities.
AUP provides employees with a clear roadmap in the form of detailed guidelines on using organizational IT equipment and internet access. However, it is essential to ensure that the guidelines are concise and readable with well-structured bullet points and numbered lists. It helps in encouraging the employees to read through it.
2. A Comprehensive Security Awareness Policy
With employees using an increasing number of personal devices in the workplace, training these bright minds in security awareness has become extremely important. Research conducted by Carnegie Mellon University 2014 indicates that organizations with security awareness training policies suffer fewer losses as compared to those organizations which do not employ such programs. Security training policies necessitate employees to complete programs that help safeguard data against cyber threats.
3. A Robust Identity Management Policy
The dramatic rise in remote work underscores the necessity of a solid identity management policy. It shall aid in offering the right users access to the right information in the appropriate context. The magnitude of cyber Security threats is considerably reduced when employees access only the required information and systems.
Hence, identity management policies should encompass authentication mechanisms, password provisioning, employee offboarding, and password requirements. In order to strengthen the identity management policies, make sure it necessitates strong, unique passwords alongside multi-factor authentication.
4. An Agile Disaster Recovery & Business Continuity
An agile disaster recovery and business continuity policy equips the company with disruptive events, enabling the swift and painless resumption of operations. Disruptions include cyber-attacks, internal emergencies (e.g., loss of power), and external emergencies (e.g., floods, storms). Studies indicate that downtime can cost small businesses between $8,000 and $74,000 per hour further intensifies the importance of the policy.
Disaster recovery and business continuity policies should also effectively reflect each organization's unique IT resources and business processes.
5. A Comprehensive Incident Response Policy
Given the inevitable nature of cyber attacks, organizations must establish an incident response policy. It must clearly outline the detection, response, and recovery mechanisms of the company. Since different organizations face distinct threats, incident response policies should be tailored to individual needs while addressing the six key phases identified by the SANS Institute:
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Incident response policies should be tested through simulated security incidents for utmost reliability.
6. A Thorough Patch and Maintenance Policy
Research reveals that 57% of data breaches result from unpatched vulnerabilities. To address this issue, organizations need a well-defined patch and maintenance policy. The policy aptly identifies responsible parties for discovering, installing, and testing software patches while outlining application conditions, and ensuring timely and proper patch implementation.
Remember, a coherent patch and maintenance policy must cover all IT devices susceptible to exploitation, including laptops, desktops, mobile devices, POS systems, servers, networking equipment, and software on all devices.
By implementing a rigorous cyber Security policy, companions can fortify their digital infrastructure, curb financial losses, and safeguard their intellectual property, ensuring that both their employees and customers can rely on a secure digital environment for a seamless business operation.
If you are interested in learning more about the emerging trends of cybersecurity at a global level, register with the Supply Chain Forum 2023 now!