In order to get a grasp on how to ease security incident management and response processes, there are terms to be clarified first. First of all, a security incident is the common name of an attack towards an organization’s cybersecurity system, network, or data in general. In addition, TechSlang also includes successful attacks within the term “incident”. Therefore, whether impactful or not, all types of attacks, violations, or exploitations can be described as security incidents.
The lifecycle of a cyber security incident can be broken up into three stages: investigation, remediation and notifications/disclosures, the latter often being the most complex, time consuming and costly. Disclosure challenges are compounded due to breach notification laws that require initial statements before the investigation is completed and the incident is fully contained. They can also stem from improper interpretation of digital forensics findings.
When faced with a real-life cybersecurity threat, few organizations know what steps to take first in order to handle the incident and minimize its impact on the business. Having a well-thought-through cyber security incident response plan (IRP) in place is the only way to get yourself fully prepared for dealing with this kind of situation. In this article, we’ll tell you in detail how you can build an IRP that perfectly fits the needs of your business.
Cyber threats are constantly evolving. All systems, people and processes around us are unceasingly dependant on technology. Even the most sophisticated cyber defense frameworks that seem virtually impenetrable can be breached by unauthorized intrusions. This escalates the need to formulate a steadfast incident response plan and conduct regular tests to assess its capabilities.
Cybersecurity breaches are at a record high and the trends indicate that the situation is nowhere close to dying out. The past year has seen a surge of attacks on global business giants narrating their experiences and spelling out that expensive resources and tools are not enough to defend an organization from security threats. (Bold, Italics) So, what is it that businesses need to do to ensure that their security system is immune to attacks?
According to the Accenture State of Cybersecurity 2020 report, the average cost of a cyber attack for ‘non-leaders’ stands at $380,000 per incident. The report classifies organizations into ‘leaders’ and ‘non-leaders.’ The ‘leaders’ are those who set the bar for innovation and achieve high-performing cyber resilience. Given the rate of cyber attacks today, a security breach can easily run a non-resilient business into a major loss.
When AT&T Incident Response Consultants first engage a client during a ransomware incident, the situation is often very chaotic. The client's ability to conduct business has stopped; critical services are not online, and its reputation is being damaged. Usually, this is the first time a client has suffered an outage of such magnitude. Employees may wrongly fear that a previous action is a direct cause of the incident and the resulting consequences.
Earlier this month, the Federal Energy Regulatory Commission (FERC) published a joint report entitled “Cyber Planning Response and Recovery Study” (CYPRES) in partnership with the North American Electric Reliability Corporation (NERC) and eight of its Regional Entities (REs) in order to review the methods for responding to a cybersecurity event.