Data is regarded as the most valuable asset in today’s business world. The examples of critical data include e-commerce data, e-banking data, and Personally Identifiable Information (PII). Therefore, data security is, and data breaches have become an international concern for individuals as well as organizations. The role of the Cybersecurity Risk Management Framework (RMF) in data security is indispensable. The RMF provides a structured, disciplined, and flexible process for managing the privacy and security risks that include information security categorization, control selection, assessment, and implementation, as well as system and control authorization and continuous monitoring.
Due to the revolution of the internet, cyber-attacks on unsecured networks are increasing tremendously and organizations are on the verge of data breaches. Securing proprietary information, Personally Identifiable Information (PII), or any other sensitive data have become a daunting task. Preventing business disruption, information theft, and reputational loss is necessary to thrive and survive in the competitive industry.
In the world of cyber warfare, businesses are constantly under threats due to the ever-growing, sophisticated cyber-attacks. With the widespread use of technology; a surge in connected devices and advancement in computational techniques, cyber pests are also accelerating attacks proportionally and posing massive damage to organizations in terms of data breaches, compliance issues, and reputational damage. According to a recent survey conducted in the UK, 43% of all the businesses have experienced some form of cyber-attack in the last 12 months. To thwart this situation, cybersecurity has become an integral part of any organization. Having a robust cybersecurity posture can save your organization from the menace of cyber-attacks and give your top management a piece of mind. Nowadays, cybersecurity provides multi-layer security to company’s IT infrastructure, usually, through various information security tools and techniques such as IPS, IDS, cryptography, firewalls, authentication systems, antiviruses and, more importantly, the SIEM and SOAR. They have a crucial role in achieving the overall security endeavors of any organization.
The previous year (2018) witnessed an overwhelming number of cyber-attacks and data breaches that affected millions of customers across companies, including customers of household names like Uber, Facebook, Reddit, British Airways, and the Marriott hotel chain. Even governmental organizations were no exception.