What ties CISCO, Colonial Pipeline, SolarWinds, Marriott, and Nvidia together? Aside from being industry leaders, they have all recently been victims of cyber-attacks and, in many cases, catastrophic data breaches.
We only put up recent victims’ identities to emphasise that anyone, and we mean ANYONE, might be the next victim of a security event. Even the most prominent organisations with the best cybersecurity architecture and security procedures can be breached.
As a result, smaller organisations that lack the necessary resources may be easy targets for hostile actors.
So, what’s the point?
It is simply to emphasise that any organisation, regardless of size, scale, or industry, may and will be attacked at some point.
There is no way to prevent attacks on your company. The only thing you can do is prepare a comprehensive response strategy for these attacks when they occur, so you can limit the harm to your business operations, bottom line, and, most crucially, brand reputation.
A Cybersecurity Incident Response Plan is the foundation of an effective cybersecurity response strategy, and you should start creating one right away!
A Cyber Incident Response Plan is essentially a road map or set of activities that your company will take in the event of a cyberattack. It is a document that outlines the steps that must be performed to minimise harm and protect your company’s data during an attack. While you can make one for yourself or outsource this to managed IT security services for better security.
The goal of having a strategy is to avoid making poor or, worse, no decisions in the face of chaos. If management and the Incident Response teams plan ahead of time for an ideal and successful Cyber Incident Response Plan, you considerably boost your chances of controlling the damage that malicious software or a data breach could do to your firm.
You’ve previously decided what to do in a calmer situation, and your Cyber Incident Response Plan reflects those judgments. During the crisis, all you’ll have to do is put the strategy into action using muscle memory.
Remember the old saying, “failing to plan is planning to fail”? That phrase very much sums up the significance of the Cyber Incident Response Plan.
If you as a business are well aware that you may become the victim of a ransomware attack, a denial of service DDoS attack, or another type of attack, but do nothing to prepare for it, you are being reckless.
A Cyber Incident Response Plan is vital because it enables a company to:
- Recognize the breach accurately.
- Contain the attack, control the damage, and maybe stop cyber thieves’ attempts to steal data.
- Protect client data and other sensitive information to the greatest extent practicable.
- Repair the flaws that caused the assault to occur in the first place.
- Recover from the attack with the least amount of harm and/or regulatory ramifications.
- Assess the lessons learnt and apply them to further enhance/improve the Cyber Incident Response Plan.
To be successful, every organisation must have a cyber incident response plan. It is a defined procedure that your company should adhere to in the case of a cyberattack. It details the procedures you’ll take to safeguard your data, minimise damage, and resume operations. Most essential, this plan should be succinct, fluff-free, to the point, and simple to grasp for all parties.
In today’s digital environment, having a well-developed Cybersecurity Incident Response Plan in place is more vital than ever. A cyber event can be damaging to your business, costing you time, money, and customers. So, don’t put it off until it’s too late.