Cybersecurity will undoubtedly consolidate its place as the top worry for company continuity and brand image in 2022. As a result, it is critical that any company that is concerned about the long-term viability and protection of its client data implements an effective cybersecurity strategy. But how can you create a policy that is both practical and successful in safeguarding your company from the growing number of cybercrime and complex cyber threats?
This article will teach you how to put up a solid cybersecurity policy for your business. Now, in order to design a successful policy, you must first understand what this policy is and why it is necessary to adopt it in your company.
What Is the Purpose of a Cybersecurity Policy?
A cybersecurity policy is a written document that includes behavioral and technological instructions for all workers in order to provide optimal protection against cyber-attacks and ransomware. In the event of a cybersecurity incident, the policy comprises information regarding a company’s or organization’s security rules, processes, technical safeguards, and operational countermeasures.
This strategy ensures that operations and security are working together to reduce the risk of a cyber-attack and that if one does occur, the IT team, operations, and business leaders know precisely what actions to take to minimize the damage.
Your information technology staff may also use a cybersecurity policy to:
- Use the correct cybersecurity tools and assess your organization’s breach preparation on a regular basis.
- Implement best practices for cyber incident response, such as creating an effective cyber incident response strategy and testing it on a regular basis using cybersecurity exercises.
- To guarantee that every team follows proper cybersecurity practices, establish excellent communication across the company. When it comes to crisis management, good communication and clear communication routes are equally essential.
However, a cybersecurity policy might imply various things to different companies. Depending on the kind of organization, nature of the company, operating model, size, and other factors, it may assume many shapes or forms.
Some examples of cybersecurity policies are as follows:
- Policy on Acceptable Use (AUP)
- Policy on access control
- Plan for Business Continuity
- Policy for dealing with data breaches
- Disaster Recovery Plan
- Remote Access
What Are the Benefits of Having a Cybersecurity Policy?
For a variety of reasons, implementing an appropriate cybersecurity strategy is critical for businesses and organizations. There are two key factors, however, that stand out the most:
Today, cyber-attacks are one of the most serious risks to corporate continuity. Since the COVID-19 epidemic, there has been a sharp increase in remote work and fast digitalization in areas that were previously behind the times, resulting in a significantly larger attack surface for cybercriminals.
The years 2020 and 2021 have also debunked the notion that cyber-attacks are primarily directed at major corporations, with small enterprises being relatively secure. Small and medium-sized organizations are involved in 43 percent of cyber-attacks, with phishing being the most common assault for 30 percent of small firms. As a result, if you own a small company, you should seriously consider implementing a cybersecurity strategy.
All staff employees, technical and non-technical, should have clear guidelines in the policy. With the correct training and educational efforts, ransomware assaults that start as phishing attempts may be readily avoided. A cybersecurity policy serves as a road map for what to do if a cyber-criminal tries to get into your company. In reality, to stay one step ahead of attackers, cybersecurity requires ongoing monitoring and maintenance. A strong cyber incident response plan is an important part of any cybersecurity strategy. In the event of a cyber-attack, the policy must explicitly state what each team and essential stakeholder must do, such as a report. The crisis response strategy must include information such as how to engage with the media and investors.
What is the best way to create a cybersecurity policy?
Now that you understand what a cybersecurity policy is and why your company needs one, it’s time to learn how to develop one that works. When creating a cybersecurity policy, keep the following five points in mind:
1. Recognize why security is important to you.
First and foremost, you must comprehend the significance of cybersecurity in your organization or corporation. When you’re doing this, consider what your company is all about when it comes to:
- Technology
- If you’re in the retail or eCommerce sector, sales are important.
- Consumers
- Investors and stakeholders
- The products or services you provide, and so forth.
These considerations influence the framework of your cybersecurity policy. Because the human aspect is frequently the beginning point of a cyber crisis in enterprises, you should include this in your employee training.
2. Prioritize and identify assets, risks, and threats
Only half of information security specialists say their companies aren’t ready to deal with a ransomware assault. This is particularly startling given the fact that cyber-attacks may occur at any moment and from anywhere.
It’s vital to identify and prioritize your assets, as well as any possible dangers or threats that they may face. To do so, keep in mind the following three objective questions:
- What are the dangers or threats that your business or organization faces?
- What are the most pressing issues about cybersecurity?
- Which dangers and threats are the most dangerous to your business?
3. Make Goals That Are Realistic
It’s critical to establish attainable cybersecurity objectives while developing a policy. While practicing cybersecurity is crucial, you may encounter restrictions in your business or organization while attempting to secure your assets.
As a result, if you can’t execute your policy all at once, make sure it can be done in phases. Also, make sure your staff, customers, and investors are aware of your objectives.
4. Make sure your policy is up to date.
Now, just because you decide to put in place a cybersecurity policy doesn’t imply it will pass a compliance audit. In reality, when it comes to cybersecurity, many firms and organizations are required to follow certain standards. As a result, ensure that your insurance complies with accepted industry standards, as well as federal regulatory obligations.
Take into account the following rules:
- Compliant with HIPAA
- Regulations for Export Administration (EAR)
- Regulations on International Arms Trade (ITAR)
- PCI Security Standards, among other things
You may verify whether your insurance complies with the laws by visiting reliable websites and completing a brief examination.
5. Perform a trial run
Finally, test your policy to make sure it’s working properly. Never wait until a cyberattack occurs to assess the success of your cybersecurity policy.
To remain on top of cyber threats, you should undertake frequent cybersecurity evaluations such as Ransomware Readiness Assessments, NIST Cyber Health Checks, incident response tabletop exercises, and ransomware tabletop exercises. The only way to know whether all of your security procedures are appropriate and effective in real-world settings is to conduct regular evaluations.
