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Taking Enterprise Security to the Board

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It’s that time of year, again, with many companies busying themselves in the art of budgeting and forecasting for 2018.

 

In some companies, this means the Chief Information Security Officer (CISO) having to communicate the importance of including enterprise security in this planning, using a language that the members of the board will understand.

 

“For some, this will mean being given a short amount of time to make sure a group of non-technical people understand the company’s business risks and believe that your plan to mitigate them is comprehensive, necessary and worthy of investment,” said Anton Jacobsz, managing director at Networks Unlimited.

 

“The keyword here is ‘business’ – we have got to translate our on-the-ground security concerns into business terms, risks and outcomes. We’re all very good at listing statistics but the ability to translate this into business outcomes, which is the language your board understands, is what will win the day.

 

“Your board’s time, attention span and ability to consume ‘geek speak’ is limited, but there are steps you can take to ensure the time you spend with them matters,” Jacobsz explained.

 

Time for a few home truths

Is your exco one of the many that thinks their organisation is not going to be of interest to cyber criminals? If yes, then it may be time to explain clearly that every single organisation, regardless of size or business focus, is likely to  experience a cyber security breach at one point or another. The reason for this is data.

 

If your business processes payments of any kind, for example salaries or online payments, or if you transmit or store records, or if you’re developing a cure for a dread disease like cancer, then you have information that a hacker can sell.

 

Ryan Kearney, Executive Vice President of Product Development and Chief Technology Officer of F5 Networks, advised that telling a compelling story about a security breach, preferably in your industry or locale, will help board members understand the risks here.

 

“Give examples from your own company. Identify critical information assets – intellectual property, sensitive customer data – and paint a picture of what would happen and what it would cost if they were compromised,” he said.

 

Use statistics to convince, not just frighten

There are ways to move the statistics conversation from one that leaves exco with a feeling of dread to one where they truly understanding the real potential impact to the enterprise.

 

F5’s Kearney says the following types of statistics could be used to educate and surprise board members:

 

  • 73 percent of companies suffered at least one security breach in the past year.

 

  • About a third of employees targeted for phishing will open fraudulent e-mails.

 

  • More than one in 10 take the bait – and it only takes one.

 

  • Less than two minutes can elapse from the hacker hitting send to your systems being compromised.

 

  • Hackers are inside your organisation, on average, for at least four months before they’re discovered.

 

  • Web apps are the number one entry point for breaches.

 

“As the C-suite leader in charge of cyber defence, it is up to the CISO to explain the impact of this to the board,” says Jacobsz. “This is the point where you should be talking in terms of tangible and intangible losses, which are sure to resonate with them.”

 

Tangible costs as a result of security breaches include fines as a result of breaks in customer SLAs, revenue losses due to downtime, compliance/audit fines, potential legal fees and incident response costs, which incorporate unplanned costs for hiring third party breach experts.

 

Less immediately obvious damage could include issues like the impact a breach could have on your company’s brand; existing and potential customer perception/loss; the loss of your competitive advantage and even the potential for the board’s personal reputation being affected.

 

Introduce security awareness to the company culture

If you talk of such things around the braai, you might have heard somebody complaining about how their company doesn’t allow Dropbox or Wetransfers – how archaic, right? Wrong, said Jacobsz.

 

“These policies are enforced because someone, somewhere along the lines, opened a mail, clicked on a Dropbox link and downloaded a file from an unknown, untrusted source resulting in a cyber security breach. But this can be avoided. A secure business is one where everyone is educated about threats and does their part to reduce risk.”

 

F5’s Kearney agreed, saying it starts with rigorous and repeated training and continues with individual buy in.

 

Furthermore, as a key participant in creating the company culture at the outset, the board members themselves must also be challenged to champion efforts that have no received budget approval, he said.

 

“You have done your homework and secured funds for some of your efforts but if you have risk areas that need addressing but have no budget allocation, board members need to know this and either accept the risk or champion a solution. There’s no better way to get something accomplished than by saying the board requested it get done.”

 

Discuss incident response and cyber insurance

 

As mentioned earlier, the likelihood of organisations remaining untouched by security breaches is minimal. Being prepared is the best line of defence, and employing the services of a good incident response firm is the first step.

 

The second is considering options in cyber insurance, which is the fastest growing insurance in the world and is projected to grow by 300 percent from $2.5 billion today in annual premiums by 2020. Here, show your work and do the maths for your board – calculate how much your business can absorb and insure the rest.

 

“Use your board-facing time wisely,” said Jacobsz.

 

“Make sure you prioritise and focus on the top cyber risks bringing solutions to the table. Above all, demonstrate your burning issues in small, easy to digest chunks. Do this and you and your boards will soon be singing in harmony and protecting the company at the same time.”

 

 


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Mega Deals as Konga Freedom Sales Goes Live Today

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All is set for the 2020 edition of the Konga Freedom Sales, an annual promotion by the foremost composite e-Commerce giant targeted at celebrating Nigeria’s independence anniversary.

Specifically, the Konga Freedom Sales goes live on Monday, September 21, 2020 and will run until Friday, October 9, 2020 across Nigeria.

The promotion will see the first week from September 21 – 27 focus on giving Nigerians the best prices and unbeatable discounts unmatched anywhere else in the market, with customers also urged to check prices on Konga before making any purchases. In addition, Konga’s customers are in line to benefit from three flash sales during the week.

From September 28, the week which coincides with the memorable occasion of Nigeria’s 60th Independence Anniversary, Konga will offer all classes of shoppers a unique opportunity to enjoy rock-bottom prices and mega deals on a wide variety of genuine products carefully selected by Konga to mark the auspicious celebration.Among these are 60 special products for each day of the promotion in line with the commemoration of Nigeria’s 60thindependence anniversary.

Also, the promotion will run across multiple channels including the Konga website, chain of retail stores located nationwide and via the Konga Bulk platform.

The eagerly anticipated Konga Freedom Sales will see the e-Commerce giant make available heavily discounted products of up to 50% off from multiple categories such as Computers & Accessories, Home & Kitchen, Electronics, quality Fast Moving Consumer Goods (FMCG), Power Solutions, Phones & Tablets, Drinks & Groceries, among many others. Further raising the excitement for the Konga Freedom Sales is the fact that Konga has positioned the promotion as one with which to celebrate Nigerians as the country hits its Diamond Jubilee.

Consequently, the management of Konga has revealed its intention to make it a promotion to remember for every customer.

‘‘Nigeria will be marking its Diamond Jubilee on October 1st. It is a momentous anniversary as 60 years is not a mean feat,’’ disclosed Co-Chief Executive Officer, Konga Group, Nick Imudia.

‘‘In view of this, we have decided to make this year’s edition of the Konga Freedom Sales a special one to celebrate all Nigerians.

‘‘Therefore, we have carefully selected all the products that will go on sale from Monday.

“Our motivation is to make it a memorable occasion for all Nigerians by helping them save money on genuine products across our online platform and retail stores nationwide.

“We encourage everyone to go online at www.konga.com or visit the nearest Konga store or leverage Konga Bulk from Monday to partake in the celebration of Nigerians through the Konga Freedom Sales,’’ he urged.

Meanwhile, an array of world class brands has partnered with Konga for the promotion. These include the likes of HP, Samsung, Lenovo, PZ Cussons, Dell EMC, Infinix, iTEC, Zinox, Tecno, Unilever and many more.

The Konga Freedom Sales goes live nationwide from Monday, September 21 until Friday, October 9, 2020.


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ICANN Launches Pandemic Internet Access Reimbursement Program Pilot

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The Internet Corporation for Assigned Names and Numbers (ICANN) has announced the Pandemic Internet Access Program Pilot for ICANN69, following the ICANN Board’s resolution in support of the pilot program.

To facilitate participation during the remote Public Meeting, the pilot program offers community members who have limited Internet capacity, financial assistance to increase their Internet bandwidth during ICANN69.

Reimbursement amounts of up to USD 60 will be provided to eligible applicants who purchase additional Internet bandwidth (capacity or data limits) for the duration of the month or billing cycle for October 2020.

The services must be rendered by a business entity or Internet service provider, specifically for Internet or cellular data service. The provider must also provide digital or paper documentation of the upgrade costs.

Interested community members must apply in advance of ICANN69 and those who meet the eligibility requirements will be selected to participate. The application deadline is Friday, 2 October 2020 at 23:59 Coordinated Universal Time (UTC).


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FG Launches Central Database for Stolen Asset Tracing

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Federal government has launched a Central Database under the Asset Tracing, Recovery and Management Regulations (ARTM), 2019 and the Central Criminal Justice Information System (CCJIS) under the National Anti-Corruption Strategy (NACS) 2017 – 2011 to assist in the fight against corruption.

FG Launches Central Database for Stolen Asset Tracing

Mr Abubakar Malami, AGF

Mr Abubakar Malami, attorney-general of the federation (AGF) and minister of Justice, at the launch in Abuja, said the database will ensure uniformity of process, access and information feeding to deepen transparency and accountability in the management of recovered assets.

To ensure compliance, he said his office is developing legislation for the full implementation and operation of the CCJIS.

“We will work together to establish and re-enact transparency and accountability in governance and management of our resources which we have committed to do by way of strengthening International Cooperation of our membership of Open Government Partnership,” he said.

In his speech, Mr Femi Gbajabiamila, speaker of the House of Representatives, represented by Mrs Ugonna Ozurigbo, chairman, House Committee on Justice, said the regulation on Asset Tracing, Recovery and proper management of proceeds of crime was signed on October 24, 2019, and took effect from November 1, 2019, replaced the proceeds of Crime Regulation of 2012.

The new regulation titled Asset Tracing, Recovery and Management Regulations 2019 empowers the AGF to take charge of the custody and management of all final forfeited assets, approval and appointment of asset managers and operating and maintaining a database for the records of all recovered assets within and outside Nigeria.

He said, the AGF’s office, under the new regulation, is also required to coordinate inter-agency investigations into recovery matters within and outside Nigeria from all law enforcement agencies whose law empowers them to undertake recoveries and maintaining a depository for all forfeiture orders issued by the Nigeria courts and courts outside Nigeria.

Asset Tracing, Recovery and Management, according to the Speaker, is a core value of good governance and its effective management will serve as a deterrent to would-be fraudulent minded individuals who may find themselves in public offices.

According to him, states resources must not be allowed to be stolen but if that happened by fraudulent individuals, efforts must be taken to trace the proceed, recover same and manage for the interest of the generality of the people.

“When the proceeds of crime are traced and recovered but again looted by government officials, I dare to say such act amounts to the crime of tertiary capacity and must be avoided.

“Assets not accounted for are assets lost; loss of assets undervalues the economic potential of a country and will negatively impact on the net worth of a country. Accordingly, Asset Tracing Recovery and Management is a panacea to rekindling of the value system of a nation,” the Speaker noted.

 


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