Bolstering Cybersecurity

Amr Taman, Chief Information Security Officer, Al Ahli Bank of Kuwait

Bolstering CybersecurityAmr Taman, Chief Information Security Officer, Al Ahli Bank of Kuwait

“Information about money is becoming more valuable than money itself”-Walter Wriston, Chairman and CEO of Citicorp

The evolution of the cyber security landscape has been flourished as a result of evolving threats that were happened in the last years. For a long time, cyber threats were limited to basic attacks that target one computer device. However, in recent years though, the threats have become more advanced and they now target multiple devices and networks too. This evolution actually forces us to ensure that agility is part of our cyber security strategy.

As a matter of fact, In the last years, many organizations are no longer relying on the old fashion of cyber security strategy (reactive methodology) but they started their cyber security proactive strategy which allows these organizations to face the most sophisticated threats and attacks techniques.

Cyber security experts around the world are now facing many challenges in the CS landscape due to the disruption of the new digital transformation strategies that most organization across the world are following, as well as, the consequences of the pandemic that hits all the world which extended the cyber security landscape to include the remote workforce models which became the new normal in the majority of organizations now a days. On the other hand, we have also some other challenges which need to be tackled like Fragmented and complex regulations, third parties integrations risks, lack of cyber security experts, etc.

“Accordingly, the organizations need to continue to adapt and take cyber security risks seriously by setting an agile cyber security strategy to mitigate the new threats.”

Accordingly, the organizations need to continue to adapt and take cyber security risks seriously by setting an agile cyber security strategy to mitigate the new threats. That’s why some new cyber security models and techniques have been developed to achieve such an agile approach like zero trust security model which is based on the belief that organizations should not automatically trust anything inside or outside their perimeters. Moreover, technological progression is an evolutionary process. As new technologies evolve, so do their side effects, one of the serious side effects of the digital age is the growing risk of cyber attacks especially that we have many technological trends that not only influenced the cyber security risks but also created new risks that did not exist before like cloud computing, AI, IOT, Robotics , chatbots, etc.

Eventually, organizations' management needs to understand that new technologies and new business services trigger new security risks that have to be managed seriously and this should be one of the hot topics of the BOD agenda. Also, they need to understand that they have to invest in their cyber security strategy like no before because the expected amount of investment, by all means, will be by far lower than the cost of cyber attacks.

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