CXO today In an exclusive interview with Wilfred Sigler, Managing Director, CRIF Solutions, VAS – India and South Asia Markets.
- How do cybersecurity risks impact your business?
Cybersecurity risks can seriously harm your business in a variety of ways. One of the most significant impacts is a data breach, which can result in the loss of sensitive information such as customer data and intellectual property. This can often lead to significant financial losses and potential legal consequences. Another concern is business interruption. Cyberattacks can bring business to a halt, resulting in system downtime, lost revenue, and the need for significant resources to bring systems back online. Furthermore, these risks can damage a company's reputation, lead to a loss of customer trust, and negatively impact customer retention and acquisition.
Dealing with cyber threats can divert resources from strategic growth and innovation. Cybersecurity is therefore not just an IT issue, but also a critical business concern. Companies must invest appropriately in cybersecurity measures to protect their operations, assets, and reputation.
- Is it possible to proactively detect cyber risks before a cyber attack, data breach, or business disruption occurs?
In today's digital age, it's important for businesses to constantly monitor and respond to cyber threats. It is especially important to remain aware of the risks posed by a company's public website. Companies should also regularly update their internal security measures to close data security gaps. To strengthen these measures, companies can take advantage of advanced tools and technologies available on the market. Additionally, regular training and guidance should be provided to employees to assist them in reporting and responding to cyber threats. Recognizing the need to strengthen the cybersecurity of organizations, CRIF created the Cyber Check Report for proactive cyber risk management.
- What steps can businesses take to reduce the risk of cyber threats?
Businesses can use a variety of resources to stay vigilant and prevent cyberattacks. Some of the measures include monitoring security certificates, updating versions of various software used for business purposes, regularly controlling access to systems used, and educating employees about threats such as phishing.
Assessing vulnerabilities in a company's own public domain and those of its partners integrated into its systems provides a proactive measure to take corrective action and preventive maintenance. The CRIF Cyber Check Report is an easy-to-understand, cost-effective report that provides an easy-to-understand view of your organization's current cybersecurity status and potential risk factors in the public domain for yourself and your partners.
This report scans your organization's publicly accessible websites for vulnerabilities, which are often the first targets of hackers. Risks are ranked based on severity (high risk, medium risk, low risk) for further action. Immediate risks are communicated to businesses and require immediate attention.
CRIF Cyber Check Reports are written in easy-to-understand business language, so no technical know-how is required to interpret them. Additionally, this report assesses the potential risks in the partner's ecosystem of websites that may be connected to the organization's systems. This can help discover weaknesses that hackers may exploit to gain internal access, allowing for quick remediation steps and closing gaps to prevent illegal activities.
- Could you please explain what the CRIF Cyber Check Report is and how it is used in the industry?
The CRIF Cyber Check Report provides a quick, independent snapshot of your organization's cyber risk profile to assist your IT security efforts and teams. Investigate and analyze real-time cyber threats that your organization may face using your organization's domain name. These threats are categorized as high, medium, or low based on vulnerability using the widely recognized “red, amber, green” traffic light system to indicate the severity of risk. This information allows companies to make informed decisions about addressing identified risks.
All your organization needs to do is enter a single URL or domain name. CRIF Cyber Check Report quickly scans publicly facing systems for outdated service software, domain management and risk analysis, outdated site and certificate usage, phishing and malware threats, data breach activity, and more. Identify potential weaknesses. Additionally, as mentioned above, our partner ecosystem is also examined and assessed for vulnerability to cyber threats. In this way, this report provides a comprehensive view of an organization's overall exposure to cyber risk.
Our Cyber Check service meticulously examines various aspects of your organization's digital presence. From domain analysis to service location, each aspect is scrutinized to ensure a thorough risk assessment. The clear areas that CRIF's comprehensive cyber risk report specifically analyzes are:
- Domain risk analysis: Discover all domains connected to your organization and their associated cyber risks.
- Phishing risks: Make sure your organization's website doesn't host dangerous content
- Site and certificate risks: Make sure your organization's website is well maintained and has up-to-date security certificates.
- Service risk analysis: Find all services or software running on your organization's domains and their associated cyber risks.
- Malware risks: Identify if domains owned by your organization are being used or impersonated to host phishing or malware activity.
- Service location: Locate organization services through IP data
- Comparative risk: Shows how your organization's cyber risk exposure compares to peer companies.
