It’s December, and you’ve just wrapped up your company-wide security awareness training campaign for October and finished reviewing the Incident Response plan with time to spare before the Holidays – you can finally kick back and take that lunch break you’ve been dreaming about – until your phone rings. It’s the public relations team – and they’ve got some exciting news: your company just made the news a couple of days ago for its latest flagship endeavor – six months before the deal’s scheduled to be announced – and is on WikiLeaks.
But you’ve got a plan – you’re ready for this… right?
As Mike Tyson once said, “Everyone has a plan until they get punched in the face”, and a cyber incident can hit hard, hit fast, and leave you spinning. According to IBM, the global average cost of a data breach in 2023 was $4.45 million (a 15.3% increase in cost since 2020) and took 277 days to identify and contain. Surveys conducted by IronNet found that respondents experienced four attacks on their organization, with a fifth experiencing six or more yearly – and 80% had an incident severe enough to merit a board meeting.
While you can’t dodge every punch, the planning, training, and rehearsal efforts you put into practice now will pay dividends down the road. Here are a few things you might consider implementing now to respond effectively later:
While incidents often come with significant cost, there’s a silver lining to what we know – IBM’s 2023 study found that organizations with incident response planning and testing experienced 33.9% less cost than their counterparts, or $1.49 million. Unfortunately, according to an article published in the Wall Street Journal found that “only 23% of survey participants test their incident response plan twice a year or more.”
Cyber Incident Response tabletop exercises and more complex simulations involving triggers that involve the technical and Security Operations teams are tailored to your organization with your specific concerns in mind. When the stakes are high, you must know who you’re working with, how to communicate clearly and effectively, and how to respond and follow through as a team. Tabletop simulations and facilitated discussions are a great way to see firsthand how effective your plan is and where you might have opportunities to improve – before you get hit by a serious threat. Nobody wants to learn the hard way. We have also found that these exercises can vary and are not all created equal. At Reveal Risk, we continuously strive to enhance innovative ways to add realism. A successful engagement will often yield feedback to the tune of “I know that was a simulation, but my heart was beating like it was really happening!”)
At Reveal Risk, we recognize the pivotal role that having a robust incident response program plays in developing cybersecurity resilience. Our experienced team of cybersecurity experts is ready to assist you through comprehensive testing and actionable intelligence on how you can take your security to the next level on a budget and schedule that works for you. Email us at info@RevealRisk.com or fill out the contact form on our website here.