Speakers
Synopsis
In today’s digital world, cyber attacks and breaches are inevitable. Organisations face a growing array of sophisticated cyber attacks, from ransomware to large-scale data breaches. These have the potential to not only disrupt operations but also cause significant reputational and financial damage. According to IBM’s Cost of a Data Breach Report, the average data breach cost reached $4.45 million globally in 2023, a 15% increase over the past three years. Ransomware attacks alone have risen dramatically, with global ransomware damage costs estimated to have exceeded $20 billion in 2021, a figure projected to grow in the coming years. Furthermore, the Verizon Data Breach Investigations Report (DBIR) indicated that 83% of organisations will face some attempted cyberattack this year (2024), highlighting the sheer scale of the threat.
However, it’s not enough to merely defend against these threats with traditional cybersecurity measures like firewalls and endpoint protection software. While important, these defences are often defensive and often inadequate in the face of rapidly evolving threats. Modern cybercriminals constantly refine their techniques, making it difficult for organisations to stay ahead. As a result, businesses must go beyond traditional defences and adopt a more proactive approach by focusing on cyber resilience—the ability to anticipate, withstand, recover from, and adapt to cyber incidents. Cyber resilience recognises that, given the inevitability of cyber attacks, it’s not a matter of if a breach will occur but when. Consequently, the focus must shift from solely preventing breaches to ensuring that when they do happen, the organisation can respond quickly to minimise damage and have clear plans to fully recover in a timely manner.
Cyber resilience isn't just about protection; it’s a catalyst for transformation. Organisations can innovate and grow by strengthening resilience, turning cybersecurity from a cost centre into a competitive advantage.
