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Spring Journal

Volume 28, Issue 2

Full Contents Now Available!

Jon Seals

There’s an interesting moment in a report on the current state of cyber security leadership from International Business Machines Corp (IBM).

For those who haven’t seen it yet, the report identifies growing concerns over cyber security with almost 60 percent of Chief Information Security Officers (CISOs) saying the sophistication of attackers is outstripping the sophistication of their organization’s defenses.

But as security leaders and their organizations attempt to fight what many feel is a losing battle against hackers and other cyber criminals, there is growing awareness that greater collaboration is necessary.

As IBM puts it: “Protection through isolation is less and less realistic in today’s world.”

Consider this: some 62 percent of security leaders strongly agreed that the risk level to their organization was increasing due to the number of interactions and connections with customers, suppliers and partners.

...

http://www.iii.org/insuranceindustryblog/?p=3873

This last week has been quite the week for pedestrian and vehicle collisions and accidents. We even had a few people die this week due to such incidents. Yes, I feel for the friends and families of those that have been impacted yet, what struck me most about each situation, was the communication messages being conveyed.

IT’s easy to blame one side of the situation and in many cases that might be reality. But just like in BCM and DR, we must convey a message that everyone can understand. The communications have to be straight to it and yet be articulate enough for people of any walk of life to understand the message – and have it retained. They can’t just be to one side of the situation. Here’s what I mean.

Immediately after the first accident the police and responding Emergency Medical Services (EMS) personnel were placing the blame for the traffic incidents on the shoulders of those driving; there was no responsibility placed on the side of the pedestrian. I found this odd because it was clean in some of the situations that the pedestrian wasn’t following the rules set out for them and the reminder about the rules wasn’t coming from the police of EMS; it was only directed at the vehicle operators.

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http://stoneroad.wordpress.com/2014/12/12/bcm-dr-communications-telling-only-half-the-story/

Casual spectators of business behavior can't help being jaded; every day they see news stories about corporate fraud, security breaches, delayed safety recalls, and other sorts of general malfeasance. But what they don't see is the renewed time and investment companies around the world are putting  toward implementing and reporting on responsible behavior (this less sensational side of the story gets far less coverage).

This week, Nick Hayes and I published an exciting new report, Meet Customers' Demands For Corporate Responsibility, which looks at the corporate responsibility reporting habits of the world's largest companies. While it's easy to think that the business community is as dirty as ever, we actually found a substantial increase over the past 6 years in what these companies included in their CSR and sustainability reports.

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http://blogs.forrester.com/chris_mcclean/14-12-12-are_corporations_getting_more_responsible_risk_management_and_customer_obsession_are_pushing_them_to

It’s that time of year again…most people are slowing down for the Christmas break. The raft of out-of-office replies from the second week in December seem to increase by the hour as people begin to use up the last dregs of annual leave and head out in to the busy shops. Others are using this time of year as an opportunity to reflect on the previous 12 months. As its BlueyedBC’s 1st Birthday I thought it was only right to get all reflective on you guys!

The Birth of BlueyedBC

Okay, so in the autumn of 2013, professionally, I was not in a very good place at all. I was unqualified, on to my 3rd BC job in less than 12 months and deeply lacking in confidence. My peer group networks were virtually non-existent because I hadn’t built it up yet and if I’m being honest I was quite angry and frustrated with the way things were going.

So I decided in my wisdom to pick up a pen and paper and write some of my thoughts down. It started by blaming virtually everyone else except myself for the recent challenges in my career. Once I started writing I found that I couldn’t stop…venting my frustrations became like an addiction to me. I had several difficult years of trying to make it as a professional post university with all this pent up feeling inside of me and I was rapidly running out of ink! It wasn’t long before my scribbles became small chapters in their own right and this is when I submitted my first (rather unfair) scathing review of my experience in the industry to Continuity Central who kindly released it to the BC world.

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http://blueyedbc.blogspot.com/2014/12/blueyedbc-year-of-sharing-business.html

Friday, 12 December 2014 00:00

Data Analytics as a Risk Management Strategy

In our increasingly competitive business environment, companies everywhere are looking for the next new thing to give them a competitive edge. But perhaps the next new thing is applying new techniques and capabilities to existing concepts such as risk management. The exponential growth of data as well as recent technologies and techniques for managing and analyzing data create more opportunities.

Enterprise risk management can encompass so much more than merely making sure your business has purchased the right types and amounts of insurance. With the tools now available, businesses can quantify and model the risks they face to enable smarter mitigation strategies and better strategic decisions.

The discipline of risk management in general and the increasingly popular field of enterprise risk management have been around for years. But several recent trends and developments have increased the ability to execute on the concept of enterprise risk management.

...

http://www.riskmanagementmonitor.com/data-analytics-as-a-risk-management-strategy/

Friday, 12 December 2014 00:00

Security predictions for 2015

As the complexity and diversity of devices, platforms and modes of interaction advance, so do the associated risks from malicious individuals, criminal organisations and states that wish to exploit technology for their own purposes. Below, Michael Fimin, CEO at Netwrix, provides his major observations of IT security trends and the most crucial areas to keep watch over in 2015:

Cloud
Many individuals and enterprises are already using cloud technologies to store sensitive information and perform business critical tasks. In response to security concerns, cloud technologies will continue to develop in 2015, focusing on improved data encryption; the ability to view audit trails for configuration management and secure access of data; and the development of security brokers for cloud access, allowing for user access control as a security enforcement point between a user and cloud service provider.

Mobile
As the adoption and standardisation of a few select mobile OS platforms grows, the opportunity for attack also increases. We can expect to see further growth in smartphone malware, increases in mobile phishing attacks and fake apps making their way into app stores. Targeted attacks on mobile payment technologies can also be expected. In response, 2015 will see various solutions introduced to improve mobile protection, including the development of patch management across multiple devices and platforms, the blocking of apps from unknown sources and anti-malware protection.

Software defined data centre
’Software defined’ usually refers to the decoupling and abstracting of infrastructure elements followed by a centralised control. Software defined networking (SDN) and software defined storage (SDS) are clearly trending and we can expect this to expand in 2015. But while these modular software defined infrastructures improve operational efficiency, they also create new security risks. In particular, centralised controllers can become a single point of attack. While the adoption of this approach is not widespread enough to become a common target for attacks, as more companies run SDN and SDS pilots in 2015, we expect their security concerns will be raised. This will result in more of a focus on security from manufacturers, as well as new solutions from third party vendors.

Internet of things
The Internet of things (IoT) universe is expanding with a growing diversity of devices connecting to the network and/or holding sensitive data - from smart TVs and Wi-Fi-connected light bulbs to complex industrial operational technology systems.

With the IoT likely to play a more significant role in 2015 and beyond, devices and systems require proper management, as well as security policies and provisions. While the IoT security ecosystem has not yet developed, we do not expect attacks on the IoT to become widespread in 2015.

Most attacks are likely to be ’whitehat’ hacks to report vulnerabilities and proof of concept exploits. That being said, sophisticated targeted attacks may go beyond traditional networks and PCs.

Next generation security platforms
In 2015 and beyond, we can expect to see more vendors in the information security industry talking about integration, security analytics and the leveraging of big data. Security analytics platforms have to take into account more internal data sources as well as the external feeds, such as online reputation services and third party threat intelligence feeds. The role of context and risk assessment will also become more important. The focus of defence systems becomes more about minimising attack surfaces, isolating and segmenting the infrastructure to reduce potential damage and identifying the most business critical components to protect.

Looking back at previous years, new security challenges will continue to arise, so IT professionals should be armed with mission critical information and be prepared to defend against them.

www.netwrix.com

Friday, 12 December 2014 00:00

Do You Have a Cybersecurity Problem?

When the topic of cybersecurity comes up at your organization, I’m guessing your executives immediately look to the CIO – yourself included. After all, when you’re talking about data, about information access and about the technology needed to keep both safe from unwanted activities, you assume IT has it covered. And your organization isn’t the only one operating under this assumption – far from it.

According to a report by Kroll and Compliance Week, three-quarters of Compliance Officers have no involvement in managing cybersecurity risk. Plus, 44 percent of respondents revealed that their Chief Compliance Officer is only given responsibility for privacy compliance and breach disclosure after a security incident has taken place and plays zero part in addressing the risks beforehand.

Here’s the problem with that approach: many breaches are preventable. According to the 2013 Verizon “Data Breach Investigations Report,” 78 percent of initial intrusions are rated as “low difficulty.” Now, don’t get me wrong: hackers are extremely crafty and are scheming new tactics as I write this. But part of the reason they are able to get their hands on data that isn’t theirs is because organizations simply aren’t prepared.

...

http://www.corporatecomplianceinsights.com/cyber-security-problem/

Friday, 12 December 2014 00:00

Good tidings we bring

The festive season is upon us and, assuming there are no postal strikes, Christmas Cards in their billions will be delivered to homes across the world spreading peace, joy and goodwill. Of course the Business Continuity Institute shares those same sentiments but, as has become tradition, we have decided not to send cards. Instead we will donate the money to those who need it more than we do.

This year, with the deadly virus Ebola high on our radar, we will be supporting Unicef in fighting this outbreak. As of the 1st December 2014, the total reported number of confirmed, probable, and suspected cases in the West African epidemic was 15,935 with 5,689 deaths. "Thousands of children are living through the deaths of their mother, father or family members from Ebola" said Manuel Fontaine, UNICEF Regional Director for West and Central Africa. "These children urgently need special attention and support; yet many of them feel unwanted and even abandoned. Orphans are usually taken in by a member of the extended family, but in some communities, the fear surrounding Ebola is becoming stronger than family ties."

As business continuity professionals, our role is to make sure that our organizations can continue to operate in the event of a 'disruption' but how would you prepare for a crisis of this magnitude? Can you prepare for a crisis of this magnitude? How do you continue to operate when death lurks around every corner and lives are consumed by fear? Fortunately most of us will never have to experience this, but we can play our part in helping those who do, which is why we are making this donation. If you would also like to make a donation to Unicef and help fight the spread of Ebola then please click here.

The BCI would wishes all our Chapter Leaders, Forum Leaders, the BCI Board, Global Membership Council and fellow business continuity practitioners around the world, Seasons' Greetings and a healthy 2015.

Note that the BCI Central Office will be closed on the 25th and 26th December and the 1st January 2015, re-opening on Friday 2nd January 2015. On the days between Christmas and New Year, the office will be staffed between 10am and 3pm only (GMT).

A recent court decision about the Target breach should have businesses of all sizes taking note.

A Minnesota judge found Target negligent in the breach and said it can be held responsible for financial damages. Infosecurity Magazine quoted the judge:

“Although the third-party hackers’ activities caused harm, Target played a key role in allowing the harm to occur,” Magnuson wrote in his ruling. “Indeed, Plaintiffs’ allegation that Target purposely disabled one of the security features that would have prevented the harm is itself sufficient to plead a direct negligence case.”

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http://www.itbusinessedge.com/blogs/data-security/target-found-negligent-in-data-breach-prevention.html

While most risk professionals are satisfied with their insurers and brokers, those from of organizations with enterprise risk management (ERM) programs were the least content, according to the inaugural J.D. Power and Risk and Insurance Management Society (RIMS) 2014 Large Commercial Insurance Report.

The full report, based on findings of the J.D. Power 2014 Large Business Commercial Study, slated for release in February 2015, examines industry-level performance metrics among large business commercial insurers and brokers. The study, which interviewed almost 1,000 risk professionals, highlights best practices that are critical to satisfying them.

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http://www.riskmanagementmonitor.com/risk-managers-of-erm-least-satisfied-with-brokers-insurers-study-finds/