What Executives Should Know About ISO 27001:2013

What Executives Should Know About ISO 27001:2013

ISO 27001:2013 is a set of framework that encourages us to adopt the cyber security practices of keeping our computers, networks, and other electronic devices safe from external and internal malware threats.

A secure cyber culture is an idea, custom, and social behavior that your organization use and acts to create a threat fee state. ISO 27001 ISMS is an international standard governing the best practices of cyber security, and a perfect way to ensure your practices that aligns with cyber security measures and policies to comply with the relevant legal requirements and obligations to your suppliers, stakeholders and customers to keep their data safe.

ISO 27001:2013 standard identifies the cyber threats that are rapidly targeting organizations. It is certainly because the information they store is highly beneficial and profitable to cyber scammers, hackers and cyber criminals. These cybercriminals may use this information to harm significant companies, institutions, or against individuals specifically for economic gains through blackmail. The Australian Cybersecurity Center (ACSC) has raised a few questions for Executives related to cyber security to answer, which we’ll talk about today.

ISO 27001 Certification from Best Practice

For effective cyber security, each organization must identify potential threats from malware attacks, unwanted users, intrusions and any underlying risks to the organisation. ISO 27001 can effectively help your organization to protect your valuable information with an excellent risk assessment plan. A member of the executive team must be aware of any significant cyber threats to their organization, and how the security of information assets is established.

Members of the executive team should also be well versed when it comes to the risks of hacks, and the financial toll they can take to an organisation’s bottom line, and the seemingly irreparable reputational damage that transpires in the aftermath of a cyber attack.

What Executives Should Know About ISO 27001:2013

Why is Information is Valuable?

As we all know, there are a huge number of adversaries that could potentially benefit from your organization’s valuable information. Think about it: you’ve got a database filled with personally identifiable information (PII) that is essentially a treasure trove for a scammer looking to collect accurate information they can use for identity theft and financial fraud campaigns.

An Executive officer must protect the confidentiality, integrity, and availability of the organization’s information; they have an obligation to their stakeholders to uphold this promise. Executives that fail to recognise the importance of data security will soon become redundant; such are the stakes of information security in the modern business context.

Making sensitive information security must be a priority of any organization. ISO 27001:2013 certification can differentiate your company in many ways where cybersecurity concerns. ISO 27001 standards show your customers and stakeholders that you are following best practices to minimize these cyber threats.

How Much Does a Cybersecurity Incident Cost?

Any cybersecurity incident could cost millions of dollars to an organization that affects business continuity if not composed well. A CEO must know the after-effects of any cybersecurity incidents. Good cybersecurity models can help avoid the direct costs of remediation activities. Information such as customer records, financial data, and intellectual property should be protected and accurately determined where the information could be endangered. ISO 27001 controls, if implemented, can help to protect the information secured in the organization.

We’ve reported previously that IBM puts the cost of remediating a data breach at USD $3.86 million. What’s worse is that in the wake of data breach or cyber security incident, your organisation could potentially be held liable for further punitive measures from regulators and disgruntled customers if your organisation was the reason their data was compromised.

For more information on how much a data breach can cost your organisation, click our article below.

How Strong is Your Cyber Security Culture?

This is the question of where each organization feels unsecured. To become more resilient, A CEO must implement a safe and secure environment within the organization. It takes only one malicious email to infect the whole cyber systems, which leads to cybersecurity incidents. To keep your cybersecurity culture secure, ongoing staff education and engagement are essential.

A CEO’s main responsibility is to protect your organization’s information, and ensure the responsibility is shared amongst all staff, and not left to a single individual, or team. ISO 27001 controls help train effectively, and engaged staff who care about protecting the organization and its information will facilitate a strong cybersecurity culture.

Cyber security is a concept that is only properly implemented in an organisation when everyone is on board, so with that in mind, talk with your team and explain to them why your organisation is taking this seriously.

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How Can Your Organisation Best Defend Itself?

An organization must be prepared for all the serious risks that could attack the information security. Cybersecurity is an ongoing process, It’s not about the product you bought once, and your responsibility is over. To keep your organization fighting against cyber threats, the CEO must plan interval checks and review policies and procedures. An organization must implement cybersecurity governance, risk management, incident response, and business continuity frameworks.

ISO 27001 is the perfect tool that can improve your organization to optimize and minimize cyber threats.

An information security management system like ISO 27001 is one of the most impactful tools your organization has to keep its data safe. ISO 27001 will enable businesses and organizations from all sectors to coherently address information security, cybersecurity, and privacy protection.

ISO/IEC 27001 is widely known, providing requirements for an information security management system (ISMS), though there are more than a dozen standards in the ISO/IEC 27000 family. Applying them enables organizations of any kind to manage the security of assets such as financial information, intellectual property, employee details, or information entrusted by third parties.

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