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WE are now living in a technological environment where cyber risks are rapidly escalating.

Online threat groups are innovating and advancing their offensive capabilities.

“Yet, cyber risk remains an afterthought that is underfunded by businesses and organisations despite being listed as a global threat in the World Economic Forum’s Global Risks Report 2021,” said CrowdStrike Asia-Pacific and Japan chief technology officer Fabio Fratucello.

Perhaps it is because security has historically been seen or implemented as an external security control, the expert noted.

“Instead of working together with the business and implementing security during the early stages, the external control approach has caused security teams to be seen as a department that says ‘no’ to potential ideas, simply adding friction and delaying things.

“Security products have also been the target of criticism from end-users who feel that security has been preventing them from doing their jobs properly,” he said.

Citing legacy antivirus software as an example, Fratucello said running the software took a significant amount of resources, required painful system reboots, and brought down entire systems at times during intensive scanning.

Fratucello was speaking at a session titled Cybersecurity First: Thriving and Winning in the Age of the ‘Never Normal” during the StarBiz Summit 2021.

Pointing out that there is much to do on raising awareness on cyber risks, he said organisations must start to proactively deal with them from a cyber defensive standpoint as the attacks are increasingly evolving into more complex, disruptive, and serious threats.

“To keep up with fast paced and ever-evolving threats, security leaders need to place significant focus on protecting, preventing and responding to threats in a strategic and long-term manner.

“This is because security is a key element in driving business operations rather than being just a cost.”Organisations that do not provide their security functions with proper funding become ineffective very quickly as the threat landscape evolves, said Fratucello, while pointing out that security leaders aren’t having enough regular conversations on cyber risks with their respective company’s board.“These conversations at board level are crucial. They can drive positive security transformation and elevate security to become a business priority which can help with enhancing the organisation security posture.”

Fratucello noted that the opportunities to drive security transformation and change perception towards cyber risks include enabling a remote workforce.

“Organisations are becoming cloud and remote first. Hence, security leaders can become business enablers and facilitate transition of the traditional workforce that works within a perimeter (in the office) to a remote workforce.”


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