 security by design security by design hemraj wed 10152025 1111 security by design joseph f norton sort by trending latest joseph fnorton trending latest government image d o you know if your organization is cyber secure or cyber insecure my focus in this blog series will be about cybersecurity and your organization cyberinsecurity and cyber crime have been hurting your business yesterday and today and will continue to do so tomorrow if you do not have a robust business understanding of the risks of not securing adequately your digital business infrastructures systems and product lines have a comprehensive set of businessfocused strategies and plans to secure and provide cyber resilience in your digital business world have in place the enterprise and business unit governance policies processes procedures and training which creates a foundation for a company culture of ownership and accountability for cybersecurity at all levels of your company board of directors executive leadership management and employees have in place the operational practices which include the use of your processes procedures supporting tools manual or automated and reporting to know whether your cybersecurity capabilities are protecting your enterprise or not have the practice and acquired learning and knowledge about what to do and not do when your organization has been cybercompromised cyber compromise takes many forms and attacks us from many directions national states terrorists criminals hacktivists business competitors and business insiders all take advantage of cyber insecurity for illegal political economic financial ideological societal business competitive and or personal gain the reason behind a cyberattack is interesting but matters little compared to the impact on your business one of the industry reports i pay attention to year after year is the ibm cost of a data breach report the latest ibm cost of a data breach 2022 report tells us that 83 of organizations studied have had more than one data breach 60 of breaches led to increases in prices passed on to their customers 79 of critical infrastructure organizations didn t deploy a zero trust architecture 19 of breaches occurred because of a compromise with a business partner 45 of breaches were cloudbased the average cost of a data breach was 435m the average cost of a ransomware attack not including the cost of the ransom itself was 45m 19 of breaches were caused by stolen or compromised credentials the average cost savings associated with incident response governance regularly tested incident response plans and incident response teams was 266m the average cost of a data breach in the united states the highest of any country was 944m the average time to identify and contain a data breach was 277 days this last fact is the big one the average time to identify and contain a data breach was 277 days this is just an average how many news reports have you read this past year about data breaches being reported that had been ongoing for over a year or more another industry report i pay attention to is the version data breach investigations report dbir the version dbir 2022 tells us that 82 of breaches involve a human element including social attacks employee errors and misuse of systems and data there has been a 13 increase in ransomware breaches more than the last five years combined 62 of system intrusions involved threat actors compromising business partners these facts should be alarming to you 82 of data breaches occurred due to a person making a mistake ransomware breaches continue to increase 62 of digital systems intrusions originated with a business partner if you are a board member executive director or manager of a small medium or large business enterprise you should be alarmed and concerned enough by this information to at least ask some questions within your organization to determine if you are cyber secure or cyber insecure in my next post i will speak about cyber risk from the perspective of business risk feedback and comments are welcome as well as any specific cybersecurity or cyber insecurity topic you might want me to comment upon joseph f norton is a risk security and crisis management professional he is a founding member and qualified technology executive of the digital directors network chair of the advisory board with next era transformation group and chief security officer with apf technologies he has served as chief security officer svp at atos chief technology officer and head of operations svp at philips chief technology officer svp at novartis executiveinresidence with mckinsey company and chief technology officer at mcdonald s he has also held professional roles during his career with jpmorgan bank oracle sybase and grumman aerospace corporation and the united states navy latest webinars our proven track of record view all image webinar clone of the ciso exchange for a safer digital world image webinar the ciso exchange for a safer digital 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