Reply to Cybersecurity and Risk Management Discussion 1
Q – Please read the discussion below and prepare a Reply to this discussion post with comments that further and advance the discussion topic.
Please provide the references you used.
Ensure zero plagiarism.
Word limit: 200 words
Discussion
Cybersecurity and Risk Management
Cybersecurity refers to the discipline dedicated to protecting information and systems that are used to store it from unauthorized access, attacks, or damage by cybercriminals. Today, cyberspace is witnessing increased cybercrimes from malicious individuals. These cybercrimes pose a significant risk to businesses because they can lead to data breaches and losses (Turban, Pollard & Wood, 2018). Therefore, managers are taking caution by establishing strong cybersecurity programs for their businesses.
The current state of cybercrime
Currently, cybercrime has been on the rise. According to Monteith et al. (2021), cybercrime has increased since the covid-19 pandemic. It is estimated that about 800,000 cybercrime incidents are reported every year because there is increased use of technology in the world (Monteith et al., 2021). As a result, criminals take advantage of the current situation to hack, steal information, and compromise the systems of internet users. Some companies like Yahoo experienced serious security breaches to the point of being given the medal of the worst cyber hacks in history (Turban, Pollard & Wood, 2018). In the US alone, 1093 data breach incidences were reported in 2016, which was a 40% increase from the previous year (Turban, Pollard & Wood, 2018). Even big technology companies like Microsoft and Google have experienced cyber attacks in the past, implying that no one is immune to cybercrime.
How this cybercrime current state concerns me as a business manager
As a business leader, one ought to be concerned with the current cybercrime state. The manager is responsible for the cybersecurity of the business (Turban, Pollard & Wood, 2018). Therefore, with the increase in cybercrimes, the managers have a reason to be worried because the blame is on them for not establishing a strong cybersecurity system to keep attackers at bay. Although managers may not be tech-savvy, they make decisions regarding the organizations security. As a result, it is upon the manager to assemble a team of experts and provide the resources that will protect the organizations digital assets and systems.
Importance of frameworks, standards, and models to a manager’s cybersecurity program
Standards, frameworks, and models are crucial for cybersecurity defense. For instance, frameworks like the enterprise risk management and the COBIT 2019 frameworks help the organization manage cyber risks and govern the IT infrastructure. On the other hand, industry standards are established to provide security to customers by preventing cybercrimes. A good example is the Payment Card Industry Data Security Standard (PCI DSS) used by credit card companies to ensure the security of users’ data. There are also models like the defense-in-depth model that managers use to provide multi-layered security for their IT systems and prevent the likelihood of breaches when attacked.
Can frameworks, standards, and models keep an organization safe?
Yes, the frameworks, standards, and models can help in keeping the organization safe from cyber-attacks and threats. They help control access to the IT systems, keeping unauthorized users at bay. Additionally, they increase the level of security in the systems, minimizing data loss and damage to the IT assets in the event of cyber attacks. Therefore, any organization that wants to keep itself safe should consider implementing the frameworks, industry standards, and models in their cybersecurity programs.
In conclusion, cybercrime is on the rise and this is a concern for business managers because they are responsible for the cybersecurity of their businesses. Businesses are expected to have frameworks, standards, and models that can help keep their information systems secure. Therefore, managers who want to improve their cybersecurity systems should adopt the right frameworks, establish the appropriate standards, and design models that will provide multi-layered security.
References
Monteith, S., Bauer, M., Alda, M., Geddes, J., Whybrow, P. C., & Glenn, T. (2021). Increasing cybercrime since the pandemic: Concerns for psychiatry. Current Psychiatry Reports, 23, 1-9.
Turban, E., Pollard, C., & Wood, G. (2018). Information technology for management: On-demand strategies for performance, growth and sustainability. John Wiley & Sons.
