VAR Panchayat
The increased complexity of city’s systems, interdependencies, globally connected social, economic and political subsystems has increased the vulnerability of a city’s security. The cyber threats get magnified as the infinite supply of data becomes more integral to a wide array of operations.
The Internet of Things (IoT) is set to transform the lives and inevitably the cities and municipal towns that rely on connected devices to manage everything from traffic control systems to energy grids. However, with IoT expanding its foothold in cities, hackers are preparing to unleash the next generation of ransomware.
A recent survey reveals that smart cities enabled by IoT will definitely provide value only if the agencies roll out secured applications for connected devices. Hence, cybersecurity professionals need to know how to safeguard municipal devices against ransomware attacks. The survey found that, in the US alone, 61 per cent of cities will have IoT pilots or more advanced initiatives under way within the year. Other countries are also catching up fast with their smart city initiatives, with few having the required mechanisms to make smart cities secured.
ASSOCHAM lauds the efforts made by the Government of India under the leadership of Prime Minister Narendra Modi to ensure a secure and resilient cyberspace for citizens, businesses, and the government. ASSOCHAM has been discussing and deliberating with the concerned authorities and stakeholders about the need for security compliance and a legal system for effective dealing with internal and external cybersecurity threats.
Cyber risk features among the top business risks for most organizations, requiring them to adapt to the everevolving threat landscape proactively.
Organizations should transform their security model from a reactive one to be a more proactive, dynamic and risk-based operating model and to assess their security posture and remediate potential cyber threats to protect their critical business assets with focus on building cyber resilience.
• Identify high-value business assets, estimate a client’s risk appetite and make decisions based upon risk exposure.
• Assess cybersecurity maturity levels and quantify cyber risk in dollar terms.
• Identify security weakness, and design and implement a cyber remediation programme.
• Achieve an optimal cyber insurability profile.
• Transform client’s IT security programme to focus on business continuity and protection of revenue.
• Development of cybersecurity roadmap for achieving cyber resilience.
• Industry-specific cybersecurity transformations.
• Integration of cyber risk strategy during major business transformations or acquisitions.
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