In our latest blog post, VISO's Information Security Officer; Gerry Rassool explores how prepared businesses are for cyber security threats and what they can do to prevent breaches occurring.
A recent survey by Cisco Systems published in March 2023 of 6,700 cybersecurity leaders across 27 markets surveyed globally reveals only 15% have a mature cybersecurity strategy in place. Alarmingly, the findings noted that a mere 4% of UK organisations are at the initial stages of deployment of cybersecurity solutions and 40% are at a formative stage with some level of deployment but performing below average on cybersecurity readiness.
The effects of not being prepared have never been greater. Incredibly, 59% of respondents in the UK said they had experienced some kind of cybersecurity incident in the last 12 months. For 47% of UK organisations affected by a security incident, the cost was at least EUR 450,000 or more.
What should you do to be prepared?
It is important for all businesses to carry out a cyber security risk assessment to identify potential cyber threats and vulnerabilities that could compromise their information systems, data, and operations. Cyber threats are becoming increasingly sophisticated and can target any business, regardless of its size or industry.
A cyber security risk assessment helps businesses identify their current security posture and vulnerabilities, and evaluate the likelihood and potential impact of cyber-attacks. This information is crucial in developing an effective cyber security strategy to protect the business against cyber threats.
Without a cyber security risk assessment, businesses may be unaware of the risks they face, and may not have appropriate safeguards in place to protect against cyber-attacks. This could result in data breaches, financial losses, legal liabilities, reputational damage, and even business failure.
In summary, carrying out a cyber security risk assessment is a critical step in protecting a business from cyber threats and ensuring its long-term viability.
How VISO can help
As a first step, we can assess your organisation against ISO27001 or NIST CSF to provide you with a GAP analysis of best practice. Our team has experience pulling these assessments together, interviewing key resources, and presenting the results back in a detailed report with a usable executive summary.
Understanding Cyber Security can feel complicated and time-consuming.
Our ARM model helps to simplify the solution for you.
We Assess, Remediate, and Manage based on your need.
We specialise in providing solutions to companies who either do not have an Information Security team in place or wish to augment an existing team with external expertise.
VISO are here to help. If you have any questions about Cyber Security, talk to us, in confidence today.
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