Author Archives: Gordon Smith

Security roundup: May 2019

We round up interesting research and reporting about security and privacy from around the web. This month: password practice, GDPR birthday, c-suite risk, and further reading for security pros.

Passwords: a good day to try hard

No self-respecting security pro would use easy passwords, but could they say the same for their colleagues (i.e. everyone else)? The answer is no, according to the UK National Cyber Security Centre. It released a list of the 100,000 most hacked passwords, as found in Troy Hunt’s ‘Have I Been Pwned’ data set of breached accounts. Unsurprisingly, ‘123456’ topped the list. A massive 23 million accounts use this flimsy string as “protection” (in the loosest possible sense of the word). Next on the list of shame was the almost as unimaginative ‘123456789’, ‘qwerty’, ‘password’ and 1111111.

The NCSC released the list for two reasons: firstly to prompt people to choose better passwords. Secondly, to allow sysadmins to set up blacklists to block people in their organisations from choosing any of these terrible passwords for themselves. The list is available as a .txt file here and the agency blogged about the findings to give more context. Help Net Security has a good summary of the study. The NCSC published the research in the buildup to World Password Day on May 2, which Euro Security Watch said should be every day.

WP Engine recently performed its own analysis of 10 million compromised passwords, including some belonging to prominent (and anonymised) victims. It makes a useful companion piece to the NCSC study by looking at people’s reasons for choosing certain passwords.

Encouraging better security behaviour through knowledge is one part of the job; effective security controls are another. In April, Microsoft said it will stop forcing password resets for Windows 10 and Windows Server because forcing resets doesn’t improve security. CNet’s report of this development noted Microsoft’s unique position of influence, given its software powers almost 80 per cent of the world’s computers. We recently blogged about what the new FIDO2 authentication standard could mean for passwords. Better to use two-factor authentication where possible. Google’s Mark Risher has explained that 2FA offers much more effective protection against risks like phishing.

GDPRversary getting closer

Almost one year on from when the General Data Protection Regulation came into force, we’re still getting to grips with its implications. The European Data Protection Supervisor, Giovanni Buttarelli, has weighed in on the state of GDPR adoption. He covered many areas in an interview with Digiday, including consent, fines, and legitimate interest. One comment we liked was how falling into line with the regulation is an ongoing activity, not a one-time target to hit. “Compliance is a continued working progress for everyone,” he said.

The European Data Protection Board (formerly known as the Article 29 Working Group) recently issued draft guidance on an appropriate legal basis and contractual obligations in the context of providing online services to data subjects. This is a public consultation period that runs until May 24.

The EDPB is also reportedly planning to publish accreditation requirements this summer. As yet, there are no approved GDPR certification schemes or accreditation bodies, but that looks set to change. The UK regulator recently published its own information about certification and codes of conduct.

Meanwhile, Ireland’s Data Protection Commission has started a podcast called Know Your Data. The short episodes have content that mixes information for data controllers and processors, and more general information for data subjects (ie, everyone).

Breaching the c-suite

Senior management are in attackers’ crosshairs as never before, and 12 times more likely to be targeted in social engineering incidents than in years past. That is one of the many highlights from the 2019 Verizon Data Breach Investigations Report. Almost seven out of ten attacks were by outsiders, while just over a third involved internal parties. Just over half of security breaches featured hacking; social engineering was a tactic in 33 per cent of cases. Errors were the cause of 21 per cent of breaches, while 15 per cent were attributed to misuse by authorised users.

Financial intent was behind 12 per cent of all the listed data breaches, and corporate espionage was another motive. As a result, there is a “critical” need for organisations to make all employees aware of the potential threat of cybercrime, Computer Weekly said. ThreatPost reported that executives are six times more likely to be a target of social engineering than a year ago.

Some sites like ZDNet led with another finding: that nation-state attackers are responsible for a rising proportion of breaches (23 per cent, up from 12 per cent a year ago). It also highlighted the role of system admin issues that subsequently led to breaches in cloud storage platforms. Careless mistakes like misconfiguration and publishing errors also left data at risk of access by cybercriminals.

The Verizon DBIR is one of the most authoritative sources of security information. Its content is punchy, backed by a mine of informative stats to help technology professionals and business leaders plan their security strategies. The analysis derives from 41,000 reported cybersecurity incidents and 2,000 data breaches, featuring contributions from 73 public and private organisations across the globe, including Ireland’s Irisscert. The full report and executive summary are free to download here.

Links we liked

Challenge your preconceptions: a new paper argues cybersecurity isn’t important. MORE

An unfortunate trend that needs to change: security pros think users are stupid. MORE

It’s time to panic about privacy, argues the New York Times in this interactive piece. MORE

Want a career in cybersecurity, or know someone who does? Free training material here. MORE

NIST has developed a comprehensive new tool for finding flaws in high-risk software. MORE

NIST also issued guidelines for vetting the security of mobile applications. MORE

Cybersecurity threats: perception versus reality as reported by AT&T Security. MORE

Here’s a technical deep dive into how phishing kits are evolving, courtesy of ZScaler. MORE

A P2P flaw exposes millions of IoT security cameras and other devices to risks. MORE

A new way to improve network security by analysing compressed traffic. MORE

 

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Upcoming cybersecurity events featuring BH Consulting

Here, we list upcoming events, conferences, webinars and training featuring members of the BH Consulting team presenting about cybersecurity, risk management, data protection, GDPR, and privacy. 

Tech Connect Live 2019: Dublin, 30 May

BH Consulting COO Valerie Lyons will be presenting at this event which takes place at the RDS in Dublin on Thursday 30 May. The conference is a business and technology event, with talks on a range of related subjects happening throughout the day. The event is free to attend, and more than 5,000 delegates are expected on the day. To find out more and to register for a free pass, visit here

Data Protection Officer certification course: Vilnius/Maastricht June/July

BH Consulting contributes to this specialised hands-on training course that provides the knowledge needed to carry out the role of a data protection officer under the GDPR. This course awards the ECPC DPO certification from Maastricht University. Places are still available at the courses scheduled for June and July, and a link to book a place is available here

IAM Annual Conference: Dublin, 28-30 August

Valerie Lyons is scheduled to speak at the 22nd annual Irish Academy of Management Conference, taking place at the National College of Ireland. The event will run across three days, and its theme considers how business and management scholarship can help to solve societal challenges. For more details and to register, visit the IAM conference page. 

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Security roundup: April 2019

We round up interesting research and reporting about security and privacy from around the web. This month: healthy GDPR, gender rebalance, cookie walls crumble, telecom threats and incident response par excellence.

A healthy approach to data protection

Ireland’s Department of Health is now considering amendments to the Health Research Regulations, with data protection as one of the areas under review. The Health Research Consent Declaration Committee, which was formed as part of the Health Research Regulations made under GDPR, confirmed the possible amendments in a statement on its website.

GDPR triggered significant changes to health research because of the obligations on data protection impact assessments. Our senior data protection consultant Tracy Elliott has blogged about this issue.

The newly announced engagement process may lead to changes to the Health Research Regulations “where any such amendments are sound from a policy perspective and legally feasible”, the HRCDC said. There’s a link to a more detailed statement on the proposed amendments at this link.

A welcome improvement

Women now make up almost a quarter of information security workers, according to new figures from ISC(2). For years, female participation in security roles hovered around the 10-11 per cent mark. The industry training and certification group’s latest statistics show that figure is much higher than was generally thought.

Some of this increase is due to the group widening its parameters beyond pure cybersecurity roles. The full report shows that higher percentages of women security professionals are attaining senior roles. This includes chief technology officer (7 per cent of women vs. 2 per cent of men), vice president of IT (9 per cent vs. 5 per cent), IT director (18 per cent vs. 14 per cent) and C-level or executive (28 per cent vs. 19 per cent).

“While men continue to outnumber women in cybersecurity and pay disparity still exists, women in the field are buoyed by higher levels of education and certifications, and are finding their way to leadership positions in higher numbers,” ISC(2) said.

The trends are encouraging for any girls or women who are considering entering the profession; as the saying goes, if you can see it, you can be it. (The report’s subtitle is ‘young, educated and ready to take charge’.) After the report was released, Kelly Jackson Higgins at Dark Reading tweeted a link to her story from last year about good practice for recruiting and retaining women in security.

Great walls of ire

You know those annoying website pop-ups that ask you to accept cookies before reading further? They’re known as cookie walls or tracker walls, and the Dutch data protection authority has declared that they violate the General Data Protection Regulation. If visitors can’t access a website without first agreeing to be tracked, they are being forced to share their data. The argument is that this goes against the principle of consent, since the user has no choice but to agree if they want to access the site.

Individual DPAs have taken different interpretations on GDPR matters. SC Magazine quoted Omar Tene of the International Association of Privacy Professionals, who described the Dutch approach as “restrictive”.

This might be a case of GDPR solving a problem of its own making: The Register notes that cookie consent notices showed a massive jump last year, from 16 per cent in January to 62.1 per cent by June.

Hanging on the telephone

Is your organisation’s phone system in your threat model? New research from Europol’s European Cybercrime Centre and Trend Micro lifts the lid on network-based telecom fraud and infrastructure attacks. The Cyber-Telecom Crime Report includes case studies of unusual attacks to show how they work in the real world.

By accessing customers’ or carriers’ accounts, criminals have a low-risk alternative to traditional forms of financial fraud. Among the favoured tactics are vishing, which is a voice scam designed to trick people into revealing personal or financial information over the phone. ‘Missed call’ scams, also known as Wangiri, involve calling a number once; when the recipient calls back, thinking it’s a genuine call, they connect to a premium rate number. The report includes the eye-watering estimate that criminals make €29 billion per year from telecom fraud.

Trend Micro’s blog takes a fresh angle on the report findings, focusing on the risks to IoT deployments and to the arrival of 5G technology. The 57-page report is free to download from this link. Europol has also launched a public awareness page about the problem.  

From ransom to recovery

Norsk Hydro, one of the world’s largest aluminium producers, unexpectedly became a security cause célèbre following a “severe” ransomware infection. After the LockerGoga variant encrypted data on the company’s facilities in the US and Europe, the company shut its global network, switched to manual operations at some of its plants, and stopped production in others.

Norsk Hydro said it planned to rely on its backups rather than paying the ransom. Through it all, the company issued regular updates, drawing widespread praise for its openness, communication and preparedness. Brian Honan wrote: “Norsk Hydro should be a case study in how to run an effective incident response. They were able to continue their business, although at a lower level, in spite of their key systems being offline. Their website contains great examples of how to provide updates to an issue and may serve as a template for how to respond to security breaches.”

Within a week, most of the company’s operations were back running at capacity. Norsk Hydro has released a video showing how it was able to recover. Other victims weren’t so lucky. F-Secure has a good analysis of the ransomware that did the damage, as does security researcher Kevin Beaumont.

Links we liked

Remember the Melissa virus? Congratulations, you’re old: that was 20 years ago. MORE

New trends in spam and phishing, whose popularity never seems to fade. MORE and MORE

For parents and guardians: videos to spark conversations with kids about online safety. MORE

A look behind online heists on Mexican banks that netted perpetrators nearly $20 million. MORE

While we’re on the subject, more cybercriminal tactics used against financial institutions. MORE

This is a useful high-level overview of the NIST cybersecurity framework. MORE

This campaign aims to hold tech giants to account for fixing security and privacy issues. MORE

How can security awareness programmes become more effective at reducing risk? MORE

An excellent security checklist for devices and accounts, courtesy of Bob Lord. MORE

Shodan Monitor alerts organisations when their IoT devices become exposed online. MORE

The post Security roundup: April 2019 appeared first on BH Consulting.

Password-less future moves closer as Google takes FIDO2 for a walk

For years, many organisations – and their users – have struggled with the challenge of password management. The technology industry has toiled on this problem by trying to remove the need to remember passwords at all. Recent developments suggest we might finally be reaching a (finger) tipping point.

At Mobile World Congress this year, Google and the FIDO Alliance announced that most devices running Android 7.0 or later can provide password-less logins in their browsers. To clarify, the FIDO2 authentication standard is sometimes called password-less web authentication. Strictly speaking, that’s a slightly misleading name because people still need to authenticate to their devices a PIN, or a using a biometric identifier like a fingerprint. It’s more accurate to say FIDO2 authentication, but not surprisingly, the term ‘password-less’ seems to have caught the imagination.

Wired reported that web developers can now make their sites work with FIDO2, which would mean people can log in to their online accounts on their phones without a password. This feature will be available to an estimated one billion Android devices, so it’s potentially a significant milestone on the road to a password-less future. Last November, Microsoft announced password-less sign-in for its account users, with the same FIDO2 standard. One caveat: Microsoft’s option requires using the Edge browser on Windows 10 1809 build. So, the true number of users is likely to be far lower than the 800 million Microsoft had been promising. But this is just the latest place where Microsoft has inserted FIDO technology into its products.

It’s not what you know

I spoke to Neha Thethi, BH Consulting’s senior information security analyst, who gave her reaction to this development. “Through this standard, FIDO and Google pave way for users to authenticate primarily using ‘something they have’ the phone – rather than ‘something they know’ the password. While a fingerprint or PIN would typically be required to unlock the device itself, no shared secret or private key is transferred over the network or stored with the website, as it is in case of a password. Only a public key is exchanged between the user and the website.”  

From the perspective of improving security, Google’s adoption of FIDO2 is a welcome development, Neha added. “Most of the account compromises that we’ve seen in past few years is because of leaked passwords, on the likes of Pastebin or through phishing, exploited by attackers. The HaveIbeenpwned website gives a sense of the scale of this problem. By that measure, going password-less for logging in to online accounts will definitely decrease the attack surface significantly,” she said.

“The technology that enables this ease of authentication is public key cryptography, and it has been around since the 1970s. The industry has recognised this problem of shared secrets for a long time now. Personally, I welcome this solution to quickly and securely log in to online accounts. It might not be bulletproof, but it takes an onerous task of remembering passwords away from individuals,” she said.

Don’t try to cache me

Organisations have been using passwords for a long time to log into systems that store their confidential or sensitive information. However, even today, many of these organisations don’t have a systematic way of managing passwords for their staff. If an organisation or business wants to become certified to the ISO 27001 security standard, for example, they will need to put in place measures in the form of education, process and technology, to ensure secure storage and use of passwords. Otherwise, you tend to see less than ideal user behaviour like storing passwords on a sticky note or in the web browser cache. “I discourage clients from storing passwords in the browser cache because if their machine gets hacked, the attacker will have access to all that information,” said Neha. 

That’s not to criticise users, she emphasised. “If an organisation is not facilitating staff with a password management tool, they will find the means. They try the best they can, but ultimately they want to get on with their work.”

The credential conundrum

The security industry has struggled with the problem of access and authentication for years. It hasn’t helped by shifting the burden onto the people least qualified to do something about it. Most people aren’t security experts, and it’s unfair to expect them to be. Many of us struggle to remember our own phone numbers, let alone a complex password. Yet some companies force their employees to change their passwords regularly. What happens next is the law of unintended consequences in action. People choose a really simple password, or one that barely changes from the one they’d been using before.

For years, many security professionals followed the advice of the US National Institute of Standards and Technology (NIST) for secure passwords. NIST recommended using a minimum of seven characters, and to include numbers, capital letters or special characters. By that measure, a password like ‘Password1’ would meet the recommendations even if no-one would think it was secure.

Poor password advice

Bill Burr, the man who literally wrote the book on passwords for NIST, has since walked back on his own advice. In 2017, he told the Wall Street Journal, “much of what I did I now regret”. He added: “In the end, it was probably too complicated for a lot of folks to understand very well, and the truth is, it was barking up the wrong tree”. NIST has since updated its password advice, and you can find the revised recommendations here.

As well as fending off cybercrime risks, another good reason for implementing good access control is GDPR compliance. Although the General Data Protection Regulation doesn’t specifically refer to passwords, it requires organisations to process personal data in a secure manner. The UK’s Information Commissioner’s Office has published useful free guidance about good password practices with GDPR in mind.

Until your organisation implements the password-less login, ensure you protect your current login details. Neha recommends using a pass phrase instead of a password along with two factor authentication where possible. People should also use different pass phrases for each website or online service we use, because using the same phrase over and over again puts us at risk if attackers compromised any one of those sites. Once they get one set of login credentials, they try them on other popular websites to see if they work. She also recommends using a good password manager or password keeper in place of having to remember multiple pass phrases or passwords. Just remember to think of a strong master password to protect all of those other login details!

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Security roundup: March 2019

We round up interesting research and reporting about security and privacy from around the web. This month: ransomware repercussions, reporting cybercrime, vulnerability volume, everyone’s noticing privacy, and feeling GDPR’s impact.

Ransom vs ruin

Hypothetical question: how long would your business hold out before paying to make a ransomware infection go away? For Apex Human Capital Management, a US payroll software company with hundreds of customers, it was less than three days. Apex confirmed the incident, but didn’t say how much it paid or reveal which strain of ransomware was involved.

Interestingly, the story suggests that the decision to pay was a consensus between the company and two external security firms. This could be because the ransomware also encrypted data at Apex’s newly minted external disaster recovery site. Most security experts strongly advise against paying extortionists to remove ransomware. With that in mind, here’s our guide to preventing ransomware. We also recommend visiting NoMoreRansom.org, which has information about infections and free decryption tools.

Bonus extra salutary security lesson: while we’re on the subject of backup failure, a “catastrophic” attack wiped the primary and backup systems of the secure email provider VFE Systems. Effectively, the lack of backup put the company out of business. As Brian Honan noted in the SANS newsletter, this case shows the impact of badly designed disaster recovery procedures.

Ready to report

If you’ve had a genuine security incident – neat segue alert! – you’ll probably need to report it to someone. That entity might be your local CERT (computer emergency response team), to a regulator, or even law enforcement. (It’s called cybercrime for a reason, after all). Security researcher Bart Blaze has developed a template for reporting a cybercrime incident which you might find useful. It’s free to download at Peerlyst (sign-in required).

By definition, a security incident will involve someone deliberately or accidentally taking advantage of a gap in an organisation’s defences. Help Net Security recently carried an op-ed arguing that it’s worth accepting that your network will be infiltrated or compromised. The key to recovering faster involves a shift in mindset and strategy from focusing on prevention to resilience. You can read the piece here. At BH Consulting, we’re big believers in the concept of resilience in security. We’ve blogged about it several times over the past year, including posts like this.

In incident response and in many aspects of security, communication will play a key role. So another helpful resource is this primer on communicating security subjects with non-experts, courtesy of SANS’ Lenny Zeltser. It takes a “plain English” approach to the subject and includes other links to help security professionals improve their messaging. Similarly, this post from Raconteur looks at language as the key to improving collaboration between a CISO and the board.

Old flaws in not-so-new bottles

More than 80 per cent of enterprise IT systems have at least one flaw listed on the Common Vulnerabilities and Exposures (CVE) list. One in five systems have more than ten such unpatched vulnerabilities. Those are some of the headline findings in the 2019 Vulnerability Statistics Report from Irish security company Edgescan.

Edgescan concluded that the average window of exposure for critical web application vulnerabilities is 69 days. Per the report, an average enterprise takes around 69 days to patch a critical vulnerability in its applications and 65 days to patch the same in its infrastructure layers. High-risk and medium-risk vulnerabilities in enterprise applications take up to 83 days and 74 days respectively to patch.

SC Magazine’s take was that many of the problems in the report come from companies lacking full visibility of all their IT assets. The full Edgescan report has even more data and conclusions and is free to download here.

From a shrug to a shun

Privacy practitioners take note: consumer attitudes to security breaches appear to be shifting at last. PCI Pal, a payment security company, found that 62 per cent of Americans and 44 per cent of Britons claim they will stop spending with a brand for several months following a hack or breach. The reputational hit from a security incident could be greater than the cost of repair. In a related story, security journalist Zack Whittaker has taken issue with the hollow promise of websites everywhere. You know the one: “We take your privacy seriously.”

If you notice this notice…

Notifications of data breaches have increased since GDPR came into force. The European Commission has revealed that companies made more than 41,000 data breach notifications in the six-month period since May 25. Individuals or organisations made more than 95,000 complaints, mostly relating to telemarketing, promotional emails and video surveillance. Help Net Security has a good writeup of the findings here.

It was a similar story in Ireland, where the Data Protection Commission saw a 70 per cent increase in reported valid data security breaches, and a 56 per cent increase in public complaints compared to 2017. The summary data is here and the full 104-page report is free to download.

Meanwhile, Brave, the privacy-focused browser developer, argues that GDPR doesn’t make doing business harder for a small company. “In fact, if purpose limitation is enforced, GDPR levels the playing field versus large digital players,” said chief policy officer Johnny Ryan.

Interesting footnote: a US insurance company, Coalition, has begun offering GDPR-specific coverage. Dark Reading’s quotes a lawyer who said insurance might be effective for risk transference but it’s untested. Much will depend on the policy’s wording, the lawyer said.

Things we liked

Lisa Forte’s excellent post draws parallels between online radicalisation and cybercrime. MORE

Want to do some malware analysis? Here’s how to set up a Windows VM for it. MORE

You give apps personal information. Then they tell Facebook (PAYWALL). MORE

Ever wondered how cybercriminals turn their digital gains into cold, hard cash? MORE

This 190-second video explains cybercrime to a layperson without using computers. MORE

Blaming the user for security failings is a dereliction of responsibility, argues Ira Winkler. MORE

Tips for improving cyber risk management. MORE

Here’s what happens when you set up an IoT camera as a honeypot. MORE

The post Security roundup: March 2019 appeared first on BH Consulting.

Games people play: testing cybersecurity plans with table-top exercises

If a picture is worth a thousand words, and video is worth many multiples more, what value is an interactive experience that plants you firmly in the hot seat during a major security incident? Reading about cyberattacks or data breaches is useful, but it can’t replicate the visceral feeling of a table-top exercise. Variously called war-gaming scenarios or simulated attacks, they can be a valuable way of helping boards and senior managers understand the full implications of cyber threats. More importantly, they can shed light on gaps where the business can improve its incident response procedure.

These exercises are designed to be immersive. They might start with a scenario like a board meeting, or a company orientation day. All participants will get a role to play; for the purpose of the session, they might be designated as a head of HR, finance, legal, or IT. As the scenario starts to unfold, a message arrives. The press has been enquiring about a major data breach or a ransomware attack on the company.

Muscles tighten, a wave of nausea passes over the stomach. The fight-or-flight instinct starts to take hold. Your role might say manager, but you don’t feel like you’re in control.

What happens next?

That will depend on how much preparation your business has done for a possible cybersecurity threat. Some companies won’t have anything approaching a plan, so the reaction looks and feels like panic stations. At various points during this exercise, the facilitator might introduce new alerts or information for the group to react to. For example, that could be negative commentary on social media, or a fall in the company stock price.

The exercise should prompt plenty of questions for the participants. What exactly is going on? How do we find out what’s happened? How is this affecting operations? Who’s taking charge? What do we tell staff, or the public, or the media?

A growing sense of helplessness can be a powerful spur to make rapid changes to the current cybersecurity incident response plan (assuming there is one).

Other organisations may already have a series of steps for what to do in the event of an incident or breach. In these cases, the table-top exercise is about testing the viability of those plans. You can be prepared, but do the steps on paper work in practice? Or as Mike Tyson memorably put it, “everybody has a plan until they get punched in the mouth”.

The exercise can show the value of having a playbook that documents all procedures to carry out: “if X happens, then do Y”. This will also shed light on missing steps, such as contact numbers for key company executives, an external security consultant, regulators, law enforcement, or media.

Fail to prepare, prepare to fail

When it comes to developing or refining an incident response plan, the devil is in the detail, says David Prendergast, senior cybersecurity consultant at BH Consulting. Here are some useful questions to ask:

  • If your policy says: ‘contact the regulator’, ask which one(s)
  • Who is the specific point of contact at the regulators office?
  • Does the organisation have the email address or phone numbers for that person?
  • Who in your company or agency is authorised to talk to the regulator?
  • What information are they likely to need to have that conversation?
  • Do you have pre-prepared scripts or statements for when things might go wrong (for customers, stakeholders, staff, and media (including social media channels)?

It might also force the company into making certain decisions about resources. Are there enough internal staff to carry out an investigation? Is that the most appropriate use for those employees, or is it better to focus their efforts on recovering IT systems?

That’s the value in table-top exercises: they afford the time to practice when it’s calm and you can absorb the lessons. There are plenty of examples of companies that handled similar situations spectacularly badly in full public view. (We won’t name names, but the list includes anyone who uttered the words “sophisticated attack” before an investigation even started.)

By the (play)book

It’s more helpful to learn from positive examples of companies that showed leadership in the face of a serious incident. That can be as simple as a statement of business priorities while an organisation copes with the fallout. In 2017, as Maersk reeled from a ransomware infection, CEO Soren Skou gave frontline staff in 130 countries clear instructions. As the Financial Times reported, the message was unequivocal even as the company was forced into shutting down IT systems. “Do what you think is right to serve the customer – don’t wait for the HQ, we’ll accept the cost.”

Some larger companies will run an exercise just for themselves, but some organisations run joint war-gaming scenarios with industry peers. Earlier this month, financial institutions and trade associations from around Europe carried out a simulated ransomware attack.

According to FinExtra, the scenario took the form of an on-site technical and hands-on-keyboard experience. There were 14 participants at CISO and CIO level, along with many more observers from other companies in the financial sector. The aim of the event was to encourage collaboration and information sharing with other teams and organisations to improve collective defences against cyber threats.

Whether it’s a war-gaming exercise or a table-top event, the goal is the same: to be ready for the worst ahead of time, and knowing what steps are available to you when bad things happen for real.

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