3 Cyber Threats Every C-level Leader Should to Be Aware ofJesse White
Cybersecurity is a bit like one long at-bat in baseball.
1. Third-party risk through APIs
The past few years have seen a massive spike in API usage, driven by the rapid growth of digital transformation, cloud computing, and mobile applications. This powers much of our connected business world today.
- Inadequate security practices: Weak API security measures, such as poor authentication, access controls, and encryption, can leave organizations susceptible to data breaches and other security incidents. Third-party APIs aren’t always secure.
- Complex API ecosystems: With so many interdependent links between various APIs, it becomes more challenging for businesses to maintain visibility and control over their API security, increasing the likelihood of vulnerabilities being exploited.
- Limited monitoring and visibility: Not having a proper system to monitor how APIs are being used can make it hard for businesses to identify and react to security threats or problems quickly.
- Rapid development cycles: The pressure to quickly release new features and applications may result in developers overlooking security best practices, leading to vulnerable APIs being deployed.
- Expanded attack surface: With more APIs in use, there are more potential entry points for cybercriminals to exploit vulnerabilities and gain unauthorized access to sensitive data or disrupt services (image below).
2. Incomplete knowledge of the security controls in place
- Cyber insurance providers rely on accurate information about your organization's security measures to assess the risk and provide coverage accordingly.
- When a security breach occurs, they will review your recent renewal policy. They will verify the information provided, such as the implementation of two-factor authentication across all systems.
- If the insurance provider discovers any discrepancies between the stated security controls and the actual implementation, your organization may be deemed to have provided false attestation on your cyber insurance renewal.
- This helps you identify gaps in your protection that can be addressed to avoid an incident.
- You can share attestation of compliance with customers, your Board, investors, or other stakeholders.
- This can also help protect from regulatory fines and legal judgments.
3. Alert fatigue
Prioritize alerts based on severity and impact.
Streamline processes using automation and orchestration tools.
Improve alert quality to minimize false alarms.
Provide regular training and support for your security team.
Lean on cyber partnerships to catch blind spots.
Improving your cyber security “batting average”
To push your cybersecurity "batting average" in the right direction, focus on making regular improvements.
VP, Strategic Partnerships Jesse leads the client and business development teams at Katalyst. His experience spans multiple technology platforms and infrastructure. He is skilled at helping customers solve business challenges, navigate market trends and make smarter decisions with disruptive technologies.
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