Predicting Breaches Before They Occur

We hosted a Melbourne CISO Lunch for SAFE Security. The CEO of SAFE Security Saket Modi addressed a group of 15 CISO’s on the below.

Cybercriminals are using automation and artificial intelligence to amplify the speed and scale of attacks. Everyone should be prepared for an attack. Regardless of how well-positioned you think you are – it’s a question of when not if your organisation will experience a cyber-attack. Options once only available to nation-states are now widely available to low-level criminals. Business Email Compromise (BEC) scams alone cost Australians $132 million per annum. The total cost is even greater when the likes of ransomware, distributed denial of service (DDoS), and other attacks are included – a whopping $4.24 million per breach!

Investing in traditional cybersecurity practices alone is no longer enough. Security and risk management leaders need to adopt models that help them predict breaches before they occur and provide real-time visibility of enterprise-wide cyber risks.

During this lunch roundtable we shall discuss:

What is the importance of having a real-time, objective, enterprise-wide risk metric in your risk management strategy?

  • Enables communication: A single source of truth for all internal and external stakeholders.
  • Score that lets you know your as-is cybersecurity state.
  • A metric that integrates signals from people, process, technology and third-party to a unified single dashboard.
  • It’s more than a score- it also enables you to prioritize actionable insights to better manage cyber risks.
  • Breach-likelihood: the ability to predict breaches through different attack vectors such as BEC, Ransomware, and more.

Tackling ransomware through breach-likelihood.

Ransomware is one of the biggest concerns. The Australian Cybersecurity Centre has acknowledged this issue. How can organizations tackle Ransomware threats proactively?

Third Parties are redefining how businesses compete in the new digital world. As organizations continue to collaborate with vendors in an ever-expanding ecosystem, multiplying the size and the complexity of the network, data breaches caused by third parties are on the rise.

The 2019 IBM Data Breach report credits Third Party involvement as one of the significant contributors to the cost of a data breach. While the Supply Chain network has helped companies remain competitive, it has also increased their attack surface while making it difficult to manage the risks associated with the networks.

·  Real-time cyber risk monitoring of third parties – how can you achieve this.

·  Quantification of the Third-party Cyber Risk.

·  Increased visibility into the security posture of the Third Parties with access to your sensitive information.

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