Navigating the storm: building your business’s cyber incident response plan

Cyber attacks have now become a matter of “when”, not “if”, impacting organisations of all sizes and types. For a business, maintaining their operational resilience, safeguarding sensitive information, and protecting shareholder and customer trust is paramount.

But what if the worst happens, and your company becomes a victim of a cyber attack? Don't panic – preparation and swift action are key. In this blog, we'll walk you through the steps to take if your company faces a cyber attack, ensuring minimal damage and a rapid recovery.

The key steps to take when your company is the victim of a cyber attack:

1. Establish an incident response team

The moment a cyber attack is suspected or detected, it’s vital to assemble an incident response team. This team should include experts in cyber security, IT, legal, communications, and management. Their collective expertise will be crucial in effectively addressing the attack and minimising its impact.

2. Examine the situation:
The first task of the incident response team is to assess the incident. This involves identifying the nature and scope of the cyber attack, understanding the extent of the breach, determining what assets or data have been compromised, and identifying affected parties. Accurate assessment is critical for making informed decisions moving forward.

3. Preserve evidence:

Preserving evidence is crucial for investigations and potential legal actions. Document all activities related to the cyber incident, from initial detection to containment efforts. This documentation can be critical for identifying the attackers and building a case against them.

4. Collaborate with cyber security experts:

Bring in cybersecurity professionals who specialise in incident response and threat analysis. They can identify the attack's tactics, techniques, and procedures (TTPs), provide insights into the attacker's motives, and offer recommendations to fortify your organisation’s defences to prevent future attacks.

5. Contain and mitigate:

Once the attack is understood, the team must work swiftly to contain it to prevent further damage. This may involve isolating affected systems, patching vulnerabilities, and strengthening security measures to prevent a repeat occurrence. Mitigation efforts should also focus on minimising the impact on operations and services.

6. Engage legal and compliance experts:

It’s no secret that cyber attacks often involve complex legal and regulatory implications. Engage legal and compliance experts who can guide your portfolio companies through the intricacies of data breach notifications law, privacy regulations, and potential liabilities. Their expertise is invaluable in avoiding costly legal repercussions.

7. Learn and adapt

Besides the potential for severe consequences, a cyber attack offers valuable learning. Identify what worked well and what could be improved, identify weaknesses in your organisation’s cyber posture and update your business’s risk management strategies accordingly. In the face of today’s ever-evolving cyber threat landscape, continuous improvement is essential.

Facing a cyber attack is a challenging and stressful ordeal, but with a well-prepared incident response plan and a dedicated team of experts, your organisation can navigate these troubled waters with confidence. By following the above mentioned steps and staying vigilant, you and your business can not only recover from a cyber incident but also strengthen its cyber posture to protect against future threats.

How to prevent a cyber attack from happening in the first place

At KYND we believe that prevention is always better than cure. To reduce the risk of a cyber incident, it’s crucial to adopt a proactive cyber security approach. To do this efficiently, it is advisable to engage cyber risk management experts, such as KYND, to conduct a thorough assessment of your organisation’s cyber posture and gain a deep understanding of the primary vulnerabilities within its infrastructure.

Initiate the process by educating your staff on cyber security best practices through ongoing training and awareness programmes, whilst implementing stringent access controls, keeping software and systems up to date with the latest patches, and by utilising firewalls. These proactive measures serve as a formidable barrier against potential cyber attacks, significantly reducing your vulnerability. By integrating comprehensive cyber risk management solutions like KYND, you gain access to invaluable insights into your exposure, enabling you to remain steps ahead of emerging threats. Through continuous cyber risk monitoring, you can pinpoint organisational weaknesses and swiftly address them before cyber criminals have a chance to attack.

Your commitment to proactive cyber risk management not only protects your business but also reinforces the trust and confidence of your valued stakeholders.