In an increasingly online society, cyber threats are also growing in size and complexity. The disruption caused by the many different digital threats around can be seen in the media almost daily. News reports about reputational and commercial damage caused by malware, phishing, ransomware and DDoS attacks or the loss of key corporate or privacy-sensitive data are becoming increasingly frequent. The legal obligation to apply adequate measures to protect against new risks is also growing, prompted by specific industrial standards or new legislation and regulations such as the GDPR.

Traditional solutions are costly and rely on the scarce expertise provided by specialists. The large number of solutions available does not make it easier to make the right choice. What is more, it is not enough simply to apply a solution once; you always have to be alert to the possibility of new threats. Your business continuity has to be safeguarded 24/7.

Opportunities

However, there are also opportunities for companies that take the right measures to protect themselves against cyber threats. A properly organised security environment is more resilient to threats and incidents and provides an organisation with opportunities to make optimum use of the latest digital solutions in order to get ahead of any risks.

In addition to good security awareness, effective security requires adequate and accurately dimensioned solutions, security measures, expertise and independent services. These should always be up-to-date so that you can stay ahead of the latest threats. And that, in turn, requires implementation and management by experts who are not just technologically or product-driven but also have a grasp of sound business operations and can therefore distinguish between core and secondary priorities. Add to this a good insight into, and translation of, assurance and compliance implications from various frameworks, legislation and regulations, and you as a business leader can confidently take smarter business decisions.

These could include working with third parties, sharing information faster and easier, offering new services, developing secure applications more quickly, using data based on insight into what is being used by whom and for what, making secure and responsible use of the many cloud-based services, or, in the event of an incident, identifying the cause sooner, taking appropriate measures and limiting damage.

Threats

How do you ensure your business continuity and adequately protect yourself against cyber threats?
What data and ‘crown jewels’ should you concentrate on protecting most, and how?
What solutions are available, what exactly do they protect you from, and how?
Do you really need all this, and how good are these services both now and going forward?
Is the protection that is provided industry-specific or is it generic, and are you taking these measures from a more risk-based or compliance-based approach?
What are your legal obligations under the terms of legislation and regulations?
What are businesses similar to yours doing? Are you doing too much or too little?

Managing cyber risks

BDO helps organisations to select, set up, install and manage the best services at the interface of technology, business operations and key cybersecurity and governance risk & compliance (GRC) issues using the latest state-of-the-art managed risk & security solutions.

So, as well as providing advice, BDO offers a full-service solution for the adequate installation and operational implementation of technological measures to protect against cyber risks. This is how we ensure, on a continuous basis, i.e. 24/7, the right level of protection against cyber threats and compliance with legislative and regulatory obligations and/or with industrial standards or GRC in general.

This could include offering managed cyber services such as security monitoring, vulnerability management, IDS, penetration testing, DLP, CASB or specific cloud security solutions.

Contact

To find out how BDO can help you, please feel free to contact one of our specialists for an informal chat.