Cybersecurity Is A Business Risk, Not Just An IT Issue

Cybersecurity is no longer just a technology issue.

It’s a business one too.

Gone are the days when businesses could pass the headaches of cybersecurity to the IT department because cybersecurity and network security has become a business issue too.

This is especially important as businesses are more and more digital, meaning they’re exposed to an increasing number of threats if they do not manage the risk of security properly.

Cybersecurity risks to your business

In a recent Cyber Security report, data shows that 59% of organizations experienced a business-interrupting security breach at least once a month.

As your world and ours become more digital, the number and type of devices requiring enhanced security measures increase too.

Things like line-of-business applications, mobile devices, tablets, wearables and Internet of Things (IoT) enabled devices all fall short in the traditional approach of securing network perimeters by a firewall.

Plus, new technologies such as artificial intelligence (AI) and machine learning are providing attackers with enhanced tools for more complex attacks.

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Importance of Cybersecurity in business

If recent global security breaches impacting over 200,000 computers in 150 countries and costing millions are anything to go by, it could not be clearer that cyber security impacts businesses as a whole, not just IT departments.

The types of threats businesses face are changing too.

Hacking software is becoming more efficient, increasing the impact hackers can have on a business. Cyber hackers are moving to more sophisticated agendas such as espionage, disinformation, market manipulation and disruption of infrastructure, on top of previous threats such as data theft, extortion and vandalism. Being able to mitigate these threats requires businesses to not only think of cyber security as a business risk, but to act on this too. Successful protection of a company requires the business to think about what these cyber risks mean for the business as a whole and for its customers.

Facing cyber security as a business risk, not merely a technology risk, is not as scary as it sounds. Following simple guidelines can help a business to do just this. Businesses need an approach that integrates cyber protection into all aspects of the organization, from the IT department, to employee training to security policies. Telstra’s Cyber Security Framework is one example of this, ensuring cyber security is approached as a whole-business framework by covering four areas: business context, policy and standards, security capabilities and controls, and the environment.

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