Kuala Lumpur, Malaysia, November 16, 2023 – In recent years, the landscape of cybersecurity has shifted dramatically, with regulatory bodies worldwide increasing their scrutiny of how organizations handle cybersecurity incidents. The U.S. Securities and Exchange Commission (SEC) has taken a pivotal step by introducing the it security Services incident reporting rule. This rule places cybersecurity at the forefront of public company governance, and it’s vital for CISOs, CTOs, and CIOs to understand its implications.
The SEC’s New Cybersecurity Incident Reporting Rule
Under the new SEC rule, companies are obligated to disclose not only their cybersecurity risk management processes in their annual reports but also any cybersecurity incident that is deemed “material” to the company. Crucially, this disclosure must occur within four days of determining that the incident is material. This rule seeks to standardize reporting practices, ensuring that investors receive consistent and timely information about cybersecurity incidents.
However, the stark reality is that the average time it takes companies to initially contain a cybersecurity incident is 5.5 days, with full recovery and remediation taking even longer. These statistics reveal a significant gap in the way many organizations approach cybersecurity services. The reliance on disaggregated products to address discrete threats hampers their ability to gain a holistic view of the threat landscape, unify data, and proactively hunt for potential attacks.
The Consequences of Current Security Solutions
The consequence of these fragmented security approaches is evident in the alarming 55% increase in vulnerability exploits from 2021 to 2022. It’s clear that a new approach is needed, and it starts with embracing the next generation of AI-powered cybersecurity solutions.
Introducing WLX product: A New Approach to Cybersecurity
XX is one such solution that can revolutionize the way organizations approach cybersecurity. This innovative platform is designed to meet current and future cybersecurity threats head-on, delivering faster and more effective security outcomes.
The Core Principles of XX
XX is built on a common-sense framework that integrates best-of-breed security components, reducing risk and simplifying processes. According to a 2022 survey, over 65% of organizations express a desire to consolidate their security solutions, recognizing the inadequacy of existing point solution-based architectures.
By consolidating security solutions into a unified platform, organizations can share intelligence across data points, dashboards, and user experiences. This integrated approach significantly enhances the ability to prevent zero-day threats in real-time while minimizing the risks associated with point product integration.
Unified Threat Intelligence and Machine-Scale Analysis
Effective threat detection and investigation depend on access to vast amounts of data from various sources. XX excels in this aspect by natively integrating telemetry from multiple sources and analyzing it to create a comprehensive view of cyber incidents and threats. This rich data is processed at machine scale, with automation driving the Security Operations Center (SOC).
By achieving an MTTD in the order of seconds and an MTTR in the order of minutes, organizations significantly improve their chances of identifying and addressing incidents promptly. XSIAM empowers organizations to triage every alert and incident at a machine scale, providing a causality chain and automatic determination of severity and impact.
Staggering Improvements in Outcomes
The power of XX is evident in the transformation it brings to SOC operations. With this platform in place, analysts can now spend 70% of their time threat hunting and running attack simulations, thanks to 100% alert coverage from AI and automation. Manual incident investigations have been reduced, and the SOC has achieved MTTD and MTTR times of less than one minute and a few minutes, respectively. This significant reduction in response times underscores the power of machine-scale AI in today’s threat landscape.
Additional Strategies for Comprehensive Cybersecurity
Reimagining cybersecurity operations goes beyond adopting advanced technology. To build a robust defense, organizations should consider several additional strategies:
- Proactive Cyber Offenses: A better offense makes for a better defense. Implement automated attack surface management solutions that accurately inventory global internet-facing assets, enabling the discovery and mitigation of risks.
- Reconsider Your Governance Model: Cybersecurity risk management isn’t solely the responsibility of CISOs and IT teams. Corporate boards should play a key role in mitigating cyber risks. Consider establishing a dedicated security committee to address cybersecurity issues effectively.
- Get Your Incident Response Plan Battle-Ready: Develop a comprehensive incident response plan that engages experts from across the enterprise and conduct simulations to test the organization’s readiness to respond and remediate effectively.
- Call in the Experts: Assemble a team of dedicated incident responders and cybersecurity experts who understand your organization’s unique landscape and regulatory requirements.
The SEC’s new incident reporting rules highlight the growing challenges of protecting our digital way of life from persistent and ingenious cyber attackers. To address this challenge, organizations must adopt a marriage of smart, next-generation security platforms like XX and sound corporate governance practices. This integrated approach will empower organizations to dramatically reduce the chances of ever experiencing a material cybersecurity incident, ensuring the security and resilience of their operations in an evolving threat landscape.
Contact Details:
Name: Henry
Company: Wizlynx group
Email: info@wizlynxgroup.com
Phone: +603 22831018
Website: https://www.wizlynxgroup.com/my/
Address: Unit A-6-5, Northpoint Offices, No 1 Medan Syed Putra Utara, Midvalley City, 59200 Kuala Lumpur, Malaysia
