Readying For Regulation Response To Cyber Incidents – Forbes Article by Ntirety CEO Emil Sayegh
December 01, 2021 by Abby McHenry
Recently, utility companies have been a major target for hackers, and critical infrastructure has been put at stake. As these cyberattacks have increased, taking action to keep bad actors away from our cyber environments must be a top priority. For industries such as utilities that provide services to almost all of us, we must all do our part to ensure security is enforced.
Ntirety CEO Emil Sayegh emphasizes the importance of the United States government’s involvement in protecting the ever-growing cyberspace, and the businesses and people whose lives could drastically change. The following piece, Readying For Regulation Response To Cyber Incidents, was originally published in Forbes.
Readying For Regulation Response To Cyber Incidents
In the wake of a prolonged season of significantly impactful cyberattacks, new regulations have arrived on the scene and we can expect more to soon follow. Good, bad, and ugly, regulations are a natural governmental response to significant situations that carry national implications. For now, the focus is on pipeline operators. But with so much vulnerability in the wild, a lack of overall standards -and also the fact that so much is at stake -cyber regulation is on a trajectory of growth, and may also find itself on a collision course across many more sensitive industries.
Back in May, the world was shocked when the Colonial Pipeline Company revealed that it was a victim of a ransomware attack. The immediate response was to halt operations in order to contain the attack. Five days later, operations resumed, but not before fuel prices on the East Coast of the U.S. skyrocketed and fuel shortages crippled the Eastern Seaboard.
The same day that operations resumed, President Biden signed an Executive Order on “Improving the Nation’s Cybersecurity.” Moving from voluntary participation to mandated compliance, some 100 pipeline operations had to formally designate a 24/7 cybersecurity coordinator and report confirmed and potential incidents to the Cybersecurity and Infrastructure Security Agency (CISA) under the new directives.
In late July, the rules tightened up from there with further regulations. The specific details that accompany this mission have not been fully revealed to the public, but some elements have been shared about the program. Participants will need:
To develop a cybersecurity contingency and recovery plan
Conduct a cybersecurity architecture design review
To implement mitigation measures to protect against cyberattacks immediately
In addition, the regulations have a bit of a bite to them, leveraging potential fines that can amount to close to $12,000 per day for each violation.
The Regulatory Trajectory
The age of self-driven, voluntary standards and industry participation is beginning to change as a response to the rash of successful attacks against critical organizations. With solid research and preparation, the implementation of these forthcoming compliance measures could possibly roll out smoothly. It is also likely that challenges will be felt throughout the industries affected by new compliance measures. Revisions and updates will follow, as already exhibited in the pipeline industry.
For most, compliance and regulation are not completely new territory, however the horizontal rollout and application to formerly voluntary industries will carry some challenges along for the ride. New technologies, cutting-edge standards, and continual assessment are not always associated with the considerably comprehensive publications of ordinary regulations.
Rolling out successful cybersecurity regulations in a comprehensive effort is going to require awareness on the contextual history of regulations as well as measures to keep regulations up-to-date and achievable.
Based on technical and operational components, the gold standard reference point throughout the industry are the standards set forth by CISA. Organizations can get ahead of these and create a better security baseline by assessing cybersecurity policies and procedures and updating them as necessary.
Among the advancing best security practices and technologies, prepare to assess and incorporate:
Updated backup and recovery tools and processes
Risk prioritization exercises
Secure cloud service practices
Zero trust capable architecture
Robust endpoint management
Enterprise threat mapping
Data encryption at rest and in transit
Every environment is different, with different realities to consider.
It can be difficult to turn down the background noise of emerging products, industry buzzwords, and marketing smoke. With so much to navigate, I cannot blame anyone that has completely tuned out. But please don’t. Silence is not bliss in this case. Most companies are ill-equipped to deal with this threat alone and must find competent cybersecurity partners. This movement has already started-this is a clarion call and moment of action on every digital front. Cybersecurity is becoming an imperative across the land.