Staying safe online: The future of cybersecurity and GRC

BY IYABODE ATOYEBI

As cyber threats become more sophisticated, the landscape of cybersecurity and governance, risk, and compliance (GRC) is rapidly evolving.

Organisations must navigate a complex web of emerging threats and increasingly stringent regulations to stay secure and compliant. This article examines the future of cybersecurity compliance, exploring how organizations can adapt to new threats and regulations while maintaining robust GRC practices.

CURRENT TRENDS IN CYBERSECURITY THREATS AND GRC

The digital age has brought about unprecedented levels of connectivity and convenience, but it has also introduced new vulnerabilities. According to the 2023 global risks report by the World Economic Forum, cyber threats are among the top five risks facing the world today. These threats include ransomware attacks, data breaches, and sophisticated phishing schemes.

Cybercriminals are becoming more innovative, using advanced techniques to bypass traditional security measures. This necessitates a proactive and dynamic approach to cybersecurity.

The evolving threat landscape has prompted regulatory bodies to update and introduce new compliance requirements. For instance, the cybersecurity maturity model certification (CMMC) in the United States mandates that defence contractors adhere to specific cybersecurity practices. Similarly, the European Union’s network and information systems (NIS) directive aims to improve the security of network and information systems across member states.

Staying compliant with new and emerging regulations is a daunting task for many organizations. The CMMC, for example, requires contractors to undergo rigorous assessments to ensure they meet cybersecurity standards. Similarly, the revised NIS Directive (NIS2), set to be implemented in 2024, expands its scope to include more sectors and introduces stricter security requirements.

Compliance is not just about meeting regulatory requirements; it’s about adopting best practices that enhance overall cybersecurity posture. Organizations must be proactive in understanding and implementing new regulations to avoid penalties and enhance their security frameworks.

Maintaining compliance in the face of evolving threats requires a multifaceted approach. According to a survey by Deloitte, 62 percent of organisations are increasing their cybersecurity budgets to address new compliance requirements and emerging threats.

A layered security approach that includes regular risk assessments, continuous monitoring, and employee training is essential. Organisations must adopt a holistic approach to cybersecurity that encompasses people, processes, and technology.

Regular risk assessments help identify vulnerabilities, while continuous monitoring ensures threats are detected and mitigated in real time. Training employees to recognize and respond to cyber threats is equally important.

TECHNOLOGY’S ROLE IN IMPROVING GRC PRACTICES

Technology plays a crucial role in enhancing GRC practices. Advanced tools such as security information and event management (SIEM) systems, artificial intelligence (AI), and machine learning (ML) can significantly improve threat detection and response capabilities. According to Gartner, by 2025, 50 percent of organisations will have adopted AI-driven cybersecurity solutions, up from less than 10 percent in 2020.

AI and ML can analyse vast amounts of data to identify patterns and anomalies that may indicate a cyber threat. These technologies enable faster and more accurate threat detection, allowing organizations to respond swiftly and effectively.

Human factors are often overlooked in compliance programs. A study by IBM found that human error is a major factor in 95 percent of cybersecurity breaches.

Compliance measures must be designed with the end-user in mind. Simplifying processes and making compliance requirements user-friendly can significantly reduce the risk of human error. Regular training and awareness programs are essential to ensure employees understand their role in maintaining compliance.

FUTURE-PROOFING GRC FRAMEWORKS

To future-proof their GRC frameworks, organisations must adopt a proactive and adaptive approach. This involves staying informed about emerging threats and regulations, investing in advanced technologies, and fostering a culture of continuous improvement.

GRC frameworks should be dynamic and capable of evolving with the changing threat landscape. Regular reviews and updates ensure that policies and procedures remain relevant and effective. Engaging in industry forums and collaborating with peers can also provide valuable insights and best practices.

As the cybersecurity landscape continues to evolve, the importance of robust GRC frameworks cannot be overstated. By staying informed about emerging threats and regulations, leveraging advanced technologies, and integrating human factors into compliance programs, organisations can enhance their cybersecurity posture and ensure long-term resilience.

The future of cybersecurity compliance lies in the ability to anticipate, adapt, and innovate. In the face of ever-changing cyber threats, a comprehensive approach to GRC is essential for staying safe and compliant.

Iyabode Atoyebi is a cybersecurity professional with a master’s degree in cybersecurity and human factors from Bournemouth University. She is focused on governance, risk, and compliance within cyberspace.