Disruptions are no longer restricted to natural disasters or power outages. The most critical disruptions that modern enterprises have to contend with are now invisible. The increasing cyberattacks, especially ransomware and sophisticated data breaches, have completely revolutionized the way modern enterprises have to address the concept of business continuity planning. A BCP that is designed to address only physical disruptions is now obsolete in the era of digital warfare.
To build an effective framework, it is now essential to develop a strategy that is designed to assume that the enterprise will be breached and focus on the best ways to limit downtime and build trust.
The Modern Cyber Threat Landscape
Financial enterprises and other high-security organizations have to contend with an increasingly dangerous cyber environment. The cyber environment is no longer restricted to stealing sensitive data. The increasing sophistication of cyberattacks has now led to attackers seeking to disrupt the overall functioning of the enterprise to hold it for ransom. The increasing popularity of ‘Ransomware as a Service’ has now led to more frequent cyberattacks. These attacks now seek to compromise critical infrastructure.
These cyberattacks have become lateral attacks that begin on one device but soon spread to the core of the enterprise network. The static nature of the cyber environment is now no longer sufficient to counter the dynamic nature of the modern cyber environment. Understanding the modern cyber environment is essential to realizing that the static cyber environment will eventually fail. The true test of the cyber environment is the speed at which the core functions of the enterprise can be recovered during an active siege.
Core Components of a Digital-First BCP
A BCP designed specifically for digital infrastructure would focus on data integrity and isolation. The common method of mirroring data to an alternate location is not effective if this alternate location is part of the same infected network. True resilience means having immutable backups, which cannot be altered or deleted. This way, there is a clean point to restore from at all times.
Communication paths should be made redundant as well. When email servers are taken offline during an attack, there needs to be a pre-defined method to communicate and coordinate an effective response. This includes defining clear authority paths when standard communication paths fail. Every minute wasted arguing about who is in charge is a minute the attackers use to deepen their foothold into an organization’s infrastructure.
Integrating AI-Driven Risk Assessment
While reactive measures are important, having proactive identification of vulnerabilities can turn a BCP into an active force. By integrating AI-driven risk assessment software, an organization can actively scan its digital footprint at all times. These systems use AI to learn what “normal” behavior looks like and alert administrators to unusual activity that might have gone unnoticed by humans.
By identifying vulnerabilities before they can be used by attackers, an organization can close gaps in its defenses or isolate areas that could be used to breach its systems. The focus shifts from simply restoring systems to preventing the disaster from escalating to catastrophic levels in the first place. Tools such as leading ransomware solutions for business continuity can work wonders.
Regulatory Reporting and Compliance
Responding to a cybersecurity incident is not just a technical challenge; it is a legal one as well. As cybersecurity incidents continue to rise, international regulatory bodies are tightening reporting requirements, often requiring an incident to be reported within hours of its discovery. A good BCP would include a special module to deal with legal and regulatory compliance.
This part of the plan should include information on who needs to be notified and when, depending upon the jurisdiction and the data that is involved. Failure to comply with these notifications will result in severe financial penalties that far exceed the actual impact of the attack. Having pre-written communication templates and immediate access to legal counsel with expertise in cyber law is essential for immediate compliance with these notifications.
Turning Disaster Recovery Into Strategic Advantage
Considering disaster recovery as simply an insurance policy or cost center is a business mistake. In a business environment where trust is currency, the ability to withstand and recover from a cyber threat is a business differentiator. Businesses that are able to demonstrate their strength to partners, investors, and customers are able to show that their data and business are secure, despite the external threat environment. By investing in a BCP that acknowledges the current realities of cyber warfare, businesses are creating a platform that will allow for sustainable business growth!
