Today almost all information and data in the world is stored and accessed digitally.  

Companies are faced with many Cyber Security Threats in today’s ever-changing IT Landscape. In addition to the extraordinary possibilities that the Information Age has brought about, it has also given rise to the emergence of dangerous and wildly successful global cybercrime syndicates.  Furthermore, new and expanding Federal / State Privacy Legislation and B2B NIST Compliancy Standards are adding security layers, security policies, and necessary remediation reporting.  

It’s time to commit to making Cyber Security a top priority for your business by implementing proactive and preventative strategies to protect your data and intellectual property from cybercriminals.  

54% of businesses believe that a data security event or cyberattack is inevitable. Surprisingly, business leaders believe that paying the ransom of a ransomware attack is a low-cost solution to vulnerability.  While the ransom may or may not be affordable, the business interruption and incident response costs are considerably more volatile and expensive. It also doesn’t solve the security problem. In fact, the cost of downtime from ransomware is 23x greater than the actual average ransom.

At Triantan CCC we break down a complete Cyber Security Plan into three component parts: NIST, Risk, and Compliancy, or NRC for short. We can execute against these as an a la carte offering or as part of our MSSP service.

NIST

The NIST CSF is an organized group of cybersecurity controls designed to be applicable to businesses of all size. Issued by the National Institute of Standards and Technology, part of The Department of Commerce, it comprises five core functions, as well as 23 more categories of security controls. The NIST CSF is a voluntary framework for business, other than those that must comply due to law or regulation. Today, there is no enforcement of the NIST CSF, other than when it is implemented as part of another regulation, but this lack of enforcement is rapidly evolving as attacks multiply.

Given the reality of cyber breaches, today’s corporate leaders and officers need to ask themselves what would happen if…

• Your systems go offline without warning?
• All your company’s private, critical data is stolen & encrypted by Ransomware Hackers?

Would you…

• Lose your biggest customers?
• Lose the trust of your clients, partners, and destroy your company’s professional reputation
• Be unable to do business for weeks, even months, as you deal with the fall-out?
• Know that you are meeting the agreed upon stipulations in your Cyber Insurance Contract? 

If you are not taking appropriate steps and precautions, you could easily have:

• No Cyber Insurance Coverage or Payout
• No Revenue Production
• No Protection from Lawsuits
• No Recourse

Risk

IT Risk can be broken down into two complementary parts: Cyber Risk and Compliance Risk

Cyber Risk commonly refers to any risk of financial loss, disruption or damage to the reputation of an organization resulting from the failure of its information technology systems. Cyber risk could materialize in a variety of ways, such as:

• Deliberate and unauthorized breaches of security to gain access to information systems
• Unintentional or accidental breaches of security
• Operational IT risks due to factors such as poor system integrity
• Poorly managed cyber risks can leave you open to a variety of cybercrimes, with consequences ranging from data disruption to economic ruin.

Compliance Risk is the risk of facing legal or regulatory sanctions, financial loss, damage to reputation or worse - a security breach courtesy of non-compliance. Building a comprehensive framework for regular assessment of compliance risk is mandated by an increasingly large number of all regulatory agencies.

At TCCC we provide a wholistic approach to managing your IT Risk

Compliancy focuses on the kind of data handled and stored by a company and what regulatory requirements apply to its protection. 

A company may have to align with multiple requirements, and understanding these can be difficult. The main goal is to manage risk and goes beyond information assets. It is overseeing policies, regulations, and laws and covers physical, financial, legal, or other types of risk. Compliance means ensuring an organization is complying to the minimum of the security-related requirements.

Compliance regulations exist to help companies improve their data security strategies by providing stringent guidelines and best practices. They are often industry-specific and based on the demands that data places on company operations.

Non-compliance with these regulations can result in hefty fines or a security breach.

Being Compliant also extends to your existing Cyber Liability Insurance.

Experts estimate that damage inflicted by cyber crimes will amount to over $6 trillion globally in 2022. This is higher than the GDP of Japan. Currently, cyber attacks put 60% of SMBs out of order. In response, Federal and State privacy legislation is now driving cyber insurance mandates. Cyber insurance coverage and policy underwriting is no longer a few checked boxes with “yes or no” responses. 

Cyber Liability Insurance (CLI) covers the financial loss that results from cyber events such as data breaches or ransomware attacks. However, just because an organization purchased and included CLI in its business insurance mix, does not guarantee that following a data breach all claims will be honored. It also does not guarantee how long the insurance company or insurance reinsurer’s incident response and forensic teams will take to present final analysis and reports.   

Just committing to a policy is not enough. You must also track and measure compliancy within the terms of the agreement. You must do this to insure that your contract is always valid and will therefore payout in a timely manner in the event of an event. Non-compliance with the insurance policy requirements can lead to claim denial.

Nothing in business is ever “guaranteed”. However, if CLI policy requirements are followed and there is investment in proactive security strategies and tools, a business can minimize the possibility of claim denials or delays. Make sure that your internal and external IT resources fully comprehend and support NIST and end-to-end data compliance standards.

Get compliant and stay compliant by partnering with a professional…

• Detect your compliance needs and vulnerabilities with a comprehensive risk assessment
• Automate data collection, analysis and documentation processes
• Identify appropriate remediation measures and highlight critical items or issues needing immediate attention
• Provide expert technical support and guidance you can put your trust in 
• Secure and protect your business and its data from new or evolving threats and sophisticated cybercriminals
• Generate detailed records and reports to demonstrate and validate Due Care or Evidence of Compliance requirements
• Deliver and manage all the above for a variety of regulatory standards with our simple, budget-friendly CaaS solution