Board and Cyber Security

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Here are my slides on "Board and Cyber Security" that I presented at the Just People Information Security breakfast this morning. Thanks Adam for arranging the session and those who attended.

Business

CYBER SECURITY BREAKFAST #001
Board and Cyber Security
LEON FOUCHE
22 March 2016
Page 1
Board and Cyber Security

CYBER SECURITY
Some statistics….
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Board and Cyber Security

CYBER SECURITY
Page 3
WEF - 2016
Board and Cyber Security Source: The Global Risk Report 2016 – World Economic Forum

CYBER SECURITY
CEOs’ fastest-growing concern
61% of CEO’s around the globe are concerned about cyber threats
Protecting Intellectual Property and Customer data
70% of organisations expressed concern about their inability to protect intellectual property or
confidential customer data
Cyber attacks are on the rise
The estimated annual cost of cyber-attacks to the global economy is more than $400 billion
Australia is not immune to cyber attacks
In 2013 cyber attacks affected 5 million Australians at an estimated cost of $1.06 billion
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Global and Australian statistics
61%
70%
$400bn
$1bn
Board and Cyber Security
Source: Various Internet sources

CYBER SECURITY
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Data breaches: 2012-2015
Board and Cyber Security
Source: California Data Breach Report – February 2016

CYBER SECURITY
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Board and Cyber Security

CYBER SECURITY
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Board and Cyber Security
Critical assets and risk assessments
• Less than a third (32%) of organisations have
identified their critical digital assets (‘crown
jewels’)
• Approximately one fifth (19%) are still
working on identifying critical assets
• 15% have done no work at identifying critical
assets
• Just over a third (34%) of organisations have
completed risk assessments of critical assets
• Only 35% of organisations have completed
cyber security risk requirement for 3rd parties
• 5% changed 3rd party vendors as a result of
cyber security risks

CYBER SECURITY
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Board and Cyber Security
Lacking cyber incident response plans
• Majority of organisations (59%) use
internal resources to mitigate cyber
risks
• Only 45% have cyber security incident
response plans in place
• 34% have no cyber security incident
response plans in place

CYBER SECURITY
What is expected from the Board
Page 9
Board and Cyber Security

CYBER SECURITY
Page 10
Board and Cyber Security
Cyber security expectations
• What should the Board be responsible for?
• What should management be responsible for?
• What should practitioners be responsible for?

CYBER SECURITY
Page 12
Board and Cyber Security
Cyber resilience checklist

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Board and Cyber Security

1. CYBER SECURITY BREAKFAST #001 Board and Cyber Security LEON FOUCHE 22 March 2016 Page 1 Board and Cyber Security

2. CYBER SECURITY Some statistics…. Page 2 Board and Cyber Security

3. CYBER SECURITY Page 3 WEF - 2016 Board and Cyber Security Source: The Global Risk Report 2016 – World Economic Forum

4. CYBER SECURITY CEOs’ fastest-growing concern 61% of CEO’s around the globe are concerned about cyber threats Protecting Intellectual Property and Customer data 70% of organisations expressed concern about their inability to protect intellectual property or confidential customer data Cyber attacks are on the rise The estimated annual cost of cyber-attacks to the global economy is more than $400 billion Australia is not immune to cyber attacks In 2013 cyber attacks affected 5 million Australians at an estimated cost of $1.06 billion Page 4 Global and Australian statistics 61% 70% $400bn $1bn Board and Cyber Security Source: Various Internet sources

5. CYBER SECURITY Page 5 Data breaches: 2012-2015 Board and Cyber Security Source: California Data Breach Report – February 2016

6. CYBER SECURITY Page 6 Board and Cyber Security

7. CYBER SECURITY Page 7 Board and Cyber Security Critical assets and risk assessments • Less than a third (32%) of organisations have identified their critical digital assets (‘crown jewels’) • Approximately one fifth (19%) are still working on identifying critical assets • 15% have done no work at identifying critical assets • Just over a third (34%) of organisations have completed risk assessments of critical assets • Only 35% of organisations have completed cyber security risk requirement for 3rd parties • 5% changed 3rd party vendors as a result of cyber security risks

8. CYBER SECURITY Page 8 Board and Cyber Security Lacking cyber incident response plans • Majority of organisations (59%) use internal resources to mitigate cyber risks • Only 45% have cyber security incident response plans in place • 34% have no cyber security incident response plans in place

9. CYBER SECURITY What is expected from the Board Page 9 Board and Cyber Security

10. CYBER SECURITY Page 10 Board and Cyber Security Cyber security expectations • What should the Board be responsible for? • What should management be responsible for? • What should practitioners be responsible for?

11. CYBER SECURITY Page 11 Board and Cyber Security Questions the Board should be asking themselves • Do we know what our cyber risk profile is – who, what, why, impact? • Do we know what our critical digital assets (‘crown jewels’) are? • Have we done proper risk assessments on these? Is this within our risk appetite? • What are we doing about managing our security gaps – mitigation (investment) and transfer (cyber insurance)? • Are we able to respond to a cyber security incident? When was the last time we have tested this?

12. CYBER SECURITY Page 12 Board and Cyber Security Cyber resilience checklist

Board and Cyber Security

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