Protecting customer data and intellectual property are among the top priorities for government agencies, as well as corporations across many different industries, such as healthcare, finance, entertainment, and insurance, to name a few. The main goal of data breaches – which are extremely common in our digital world – is stealing confidential customer information or valuable intellectual property. Banks, hospitals, insurance companies, along with government institutions, are often the target of cyber crimes involving fraud and intellectual property theft. Considering that these types of breaches – which are not always avoidable or preventable – can have wide-ranging consequences for every organization. They must take a broad set of precautionary measures in order to minimize the damage and recover as soon as possible. Among those measures is devising incident response plans, as well as adopting a platform that can keep cybersecurity incidents under control, by helping you determine what type of cyber attack your organization is under, how you should prioritize your response, and what you can do to contain the damage.
Fast Incident Triage
If an organization uses a cybersecurity platform with robust incident response capabilities, the organization’s leadership can have peace of mind that even if they get attacked, they will be able to solve the incident as quickly and as efficiently as possible.
One of the key elements to an effective incident response is incident triage. Organizations should acquire a cybersecurity platform that offers this feature, which is essential for improving its CSIRT’s efficiency. Incident triage is important because it allows your team to quickly analyze what happened and determine what actions they need to take first, enabling a continuation of the operations within the organization and containment of the damage.
Once a data breach is detected, and the incident triage process is completed, some of the next steps involve managing the impact and preparing for potential litigation, which organizations often face when they’ve experienced a data breach. To that end, corporations and government agencies should use a platform that provides litigation support, which covers several aspects, such as customizable reports needed for material disclosures, as well as the preservation of evidence and chain-of-custody tracking to preserve all artifacts and record all activities. Allowing a proper investigation that could help your organization avoid crippling potential legal liabilities.
In conclusion – the mentioned features are crucial for protecting customer data and trade secrets in the era of data breaches. Organizations can easily take advantage of extra robust feature functionality by obtaining a cybersecurity platform that incorporates all those capabilities necessary for a complete solution that meets and exceeds your requirements.
Considering that we live and work in an increasingly connected world, it can be said that nowadays there is no organization that is immune to cyber attacks and data breaches. No matter how sophisticated your cyber defense is, you always need to be prepared for all eventualities that might arise from potential vulnerabilities within your computer networks or systems. That is why having a proper cyber incident response plan in place is crucial to the security of every organization since it enables you to detect and respond to cyber security breaches as quickly and efficiently as possible. For a cyber incident response plan to be successful, it should rely on automated incident response playbooks that can provide an automated response to any cyber attack, reducing the time it takes to solve an incident and allowing your organization to resume operations as soon as possible.
Automated Computer Forensics and Remediation
By using a platform that incorporates automated playbooks, organizations streamline their cybersecurity. As the playbooks provide automated digital forensics and remediation of the target, in addition to prioritized workflows that help when responding to all threats in the most effective manner.
To put it briefly, automated cyber incident response playbooks replace several time-consuming and often very costly processes and tasks that need to be completed following an advanced cyber attack. Tasks like tracking and gathering evidence that usually takes a lot of time to complete which only prevents investigators from spending more time trying to solve the problem. With a platform that offers automated playbooks, your cyber security team can focus on analyzing an incident, instead of collecting information.
Quick Response to Every Specific Incident
Security incident response playbooks help cyber security teams select the workflow that’s best suited for a specific threat. This allows them to prioritize their response, as well as choose the right tools that are required to solve a problem. These kinds of playbooks are a paramount part of an automated and orchestrated incident response, which is a key requirement for every SOC and CSIRT.
In conclusion, businesses and organizations are searching for a solution that enables a quick recovery from cyber attacks and helps prevent future potential threats. Investing in a complete platform that includes automated playbooks is one of the wisest investments they can make to protect proprietary and critically valuable information.
Financial institutions are always at a great risk of falling victims to cyber-attacks. They are under a constant threat of being attacked by hackers looking to obtain confidential information that can be potentially very lucrative. In a bid to make sure banks are prepared to respond to cyber threats in the most efficient manner, three U.S. federal agencies in charge of overseeing and regulating the work of banks have proposed a set of cyber security requirements that the financial institutions must meet when it comes to the management of cyber security risks.
The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have issued an advance notice of proposed rulemaking (ANPR) that contains standards on how to manage and improve resilience regarding cybersecurity risks.
The standards are designed to help protect financial institutions, as well as their clients, against potential cyber threats.
Incident Response and Cyber Resilience Among the Standards
Per the advance notice, the proposed standards will cover a specific group of financial institutions, including depository institutions and depository institution holding companies with total assets of at least $50 billion, along with financial market infrastructure companies and non-bank financial companies that are supervised by the Board.
These covered entities should comply with specific cyber security requirements that are designed to improve their cyber incident response procedures and prepare for potential cyber-attacks.
The agencies propose five categories of standards regarding cyber security:
- cyber risk governance
- cyber risk management
- internal dependency management
- external dependency management
- incident response, cyber resilience and situational awareness
One Platform to Comply with all Cyber Security Requirements
Considering that there are a lot of aspects that the covered entities will have to pay attention to in order to meet the above-mentioned standards, it would be most cost-effective and practical for them if they adopted a platform that is capable of completing all tasks proposed by the standards.
Such platforms are now available on the market and can make life much easier for all organizations that these standards apply to. For instance, there are platforms that can help organizations ensure an effective and extensive incident response plan, providing complete control over cyber incidents. Organizations are advised to acquire such a platform that provides the ability to track and predict cyber security incidents, track and gather digital evidence, and create statistical reports, which are a key element to resolving a certain breach.
Also, that same platform can automatically manage all cases and data that’s required for cyber threats within your organization, as well as lab and inventory management, helping you comply with the cyber risk management requirements.
Finally, a platform that is specifically designed to prioritize your response and reduce the time it takes you to solve a cyber incident. The solution should help you comply with the Internal dependency management standards, while assessing the risk and provide action plans. A complete and full solution helps organizations reduce the risks of cyber-attacks and comply with the External dependency management standards.
The United States Computer Emergency Readiness Team (CERT) has announced that it will implement new cybersecurity notification guidelines, which are going to have a significant impact on how government agencies and organizations from the private sector deal with cyber incidents.
As the US-CERT states, the new guidelines will impose new requirements regarding notifications on cybersecurity incidents, that must be complied with by all Federal Departments and agencies; state, local, tribal, and territorial government agencies; along with private-sector organizations, and Information Sharing and Analysis Organizations. The cybersecurity notification guidelines will include a specific procedure involving how, when, and who the covered entities will be required to notify after they detect an incident within their organizations.
Identifying Incidents Through a Seven-Step Process
According to the guidelines, in order for an agency to be able to notify the CERT of an incident properly, it will have to complete a process consisting of seven steps. For starters, the agency must identify the current level of impact an incident has on its services or functions. Then, identification of the type of information lost, compromised, or corrupted, is required. This step should be followed by an estimation of the scope of time and resources that an agency will have to spend in order to recover from the incident.
Next, agencies should identify when the activity was first detected, after which they will be required to identify how many systems, records, and users have been impacted. The final two steps are the identification of the location of the network the activity was observed in, and identification of the point of contact information for additional follow-up.
After completing the above-named steps, agencies will have to submit the notification to the US-CERT, with a specific set of information that is required to be included in the notification, such as:
- Information on the attack vector(s) that lead to the incident
- Indicators of compromise
- Information related to any mitigation activities that the agency has taken in response to the incident
Incident Response Platforms
In order to be able to comply with the new requirements regarding cybersecurity incident notifications, organizations are advised to employ a cybersecurity platform that provides a comprehensive and automated incident and forensic case management.
A platform that provides you with a set of playbooks specifically tailored to many potential cyber threats. Your organization can save a great deal of time and resources by using a tool that can create automated incident reports and send them to your cybersecurity team, a process which would be in compliance with the new US-CERT guidelines.
Considering that the cybersecurity incident notification process under the new cybersecurity notification guidelines is extensive and can be challenging for some organizations that do not have the resources or the knowledge necessary to complete it, acquiring a platform that can do all the required steps for you is the best solution for all entities covered by the guidelines. This is where a platform containing prioritized workflows designed to help your business respond to current threats and prepare your cyber defense systems for future threats, which are bound to occur eventually, can come in handy. Finally, considering the upcoming US-CERT guidelines, every private-sector organization and government agency could use a platform that can track digital evidence and entire investigative processes, as some of the key steps that should be performed when notifying authorities of an incident.
Although cyber security solutions are advancing at an extraordinarily fast pace, the harsh reality is that cyber attacks will continue to occur and hackers will continue to breach the networks and computer systems of businesses and government agencies around the globe. Efficient and accurate cyber incident reporting is considered key to mitigating the potential damage these attacks can inflict.
All cyber security experts agree that cyber attacks are inevitable and can’t always be prevented. No matter how sophisticated an organization’s cyber defense is, there will always be a way to breach it. With that in mind, the best way to defeat attackers is to devise the best possible cyber incident response plan. The way you respond to an incident is one of the crucial aspects to the efforts for ultimately defeating hackers and preventing recurring attacks. Reporting and forensic investigations are the two of the most important elements of a successful cyber incident response plan.
Keeping Incidents Under Control
A quick and effective response to a cyber incident should include having firm control over all data breaches and incidents, which is best executed through the utilization of an incident response orchestration platform that provides automated and manual response, to immediately detect and respond to breaches.
There are platforms on the market that provide complete control over cyber security incidents, along with gathering evidence efficiently, specific, and detailed playbooks that help you react to an incident fast and effectively, and integration with forensic and response systems.
These types of features are essential for organizations that want to make sure that they preserve the scene of a cyber security incident, which in turn results in a more effective investigation, fast recovery, as well as compliance with existing regulations. It’s an accurate way to prevent a destruction or loss of evidence, which often occurs unintentionally and prevents a speedy recovery following a breach.
An efficient incident response includes accurate cyber incident reporting, as well. Reporting to authorities is an important part of the process of resolving cyber-crime cases, and it should be conducted in accordance with existing regulations, such as the EU Network Information Security (NIS) directive, and the new cyber incident reporting rule introduced by the U.S. Department of Defense, that is supposed to go into effect in 2017.
If your organization is a victim of a cyber-attack, notifying authorities about the incident should be one of your top priorities. The creation of reports is useful for a faster recovery. With a tool that can create automated incident reports and send them to the security team within an organization, the organization reduces the time it takes to react and resolve a cyber incident, and contain the damage.