As Cybersecurity Governance in Bahrain is a relatively new and very important concept, the idea of assessing the efficacy of Cybersecurity and Cybersecurity Governance implementation is still highly debated and researched.
Developing the cybersecurity governance strategy wants to understand and define the enterprise’s risk posture in the context of the overall environment. The global supply chain of the business company today is characterized by moving parts and multiple and constantly evolving potential threats. However, many cyber security governance strategies adhere to the obsolete weakest link strategy of identifying and mitigating specific, discrete risks.
Cybersecurity Governance in Bahrain Key Points
- Cybersecurity is a rapidly evolving field that impacts governments, organizations, and individuals. More work is needed in this area, but collaboration between government, academia, and industry (notably insurers) stands to deliver large benefits to the cybersecurity community
- Uncertainty permeates cyber systems, and scientific evidence is hard to obtain
- Collecting data and sharing information about breaches and incidents is a critical step towards progress. However, how this can be done is subject to some controversy
- Organizations need to quantify the cyber risk to enable better decisions about security investments and business management. Quantitative risk assessments are still rare, at least publicly available information, but major progress is currently being done to adopt new probabilistic approaches
- Insurance companies can improve cybersecurity risk management by collecting data and driving incentives for effective security controls through policy pricing
- Research into new security controls should broadly cover both short-term and long-term initiatives that either disperse best practices or the work on novel technologies to reduce the attacker-defender gap. Research should be interdisciplinary and adaptive to address new issues that are not yet evident, given the rapidly evolving nature of cybersecurity.
Using the current best practices and on-going research initiatives, organizations can address the security gap by:
- Implementing the best controls
- Systematically using the most advanced security tools and implementing new systems designs, which exist today and are being developed by academia and security firms, and give defenders an edge in cybersecurity
- Implementing risk-based approaches to minimize cyber risk impact on business.