Every day, large critical infrastructure businesses lose more ground to worsening digital threats because corporate security teams aren’t positioned to make the most of their data and therefore can’t deliver value for the entire organization.
Every day, large critical infrastructure businesses lose more ground to worsening digital threats because corporate security teams aren’t positioned to make the most of their data and therefore can’t deliver value for the entire organization.
Senior leaders, corporate boards, consumers, and regulators expect organizations to leverage data as an asset. Instead, businesses are drowning in their own data, which isn’t normalized to provide better visibility into the enterprise. Stuck with rising data storage costs and timeworn ways of sharing information in emailed spreadsheets and Microsoft Access databases, organizations are missing opportunities to structure and contextualize data for success in the fight against emerging threats.
Hidden in the noise in the financial sector, for instance, are clues that banks might use to detect hacking and fraud more rapidly—if only investigators could see them faster in a consumable way, so they could puzzle out the risks. And distributed among business centers around the world are security records that could collectively help global companies elevate their worldwide cybersecurity posture—if only security teams continents apart could obtain a shared, real-time view of the risk landscape.
To improve their risk posture and proactively counter emerging challenges from sophisticated nation-states and criminal groups, the organizations being targeted—banks, manufacturers, and other critical businesses across the private sector—require innovative, efficient, and effective ways to turn today’s security data into tomorrow’s risk management insights.
Now, chief information officers and chief information security officers can start getting ahead of these challenges with an integrated solution developed by Booz Allen Hamilton—a data-driven cybersecurity approach that leverages talent and technology to deliver value across entire organizations. We help each client equip their disparate internal teams with shared awareness of vital data, a culture change enabled in part by the stand-up of a fusion center with the right capabilities, management, and architecture tailored to fit the organization.
This approach integrates formerly siloed groups such as cyber operations, incident response, cyber intelligence, information protection services, global security and investigations, fraud management, anti-money laundering, legal, communications, and compliance. With use cases and data governance guided from the top, these teams are more empowered to make the real-time decisions needed to counter emerging threats.
When a bank, for instance, is faced with a particular threat that is quickly evolving from a credential hack to a fraud scheme and then to money-laundering risk, a data-driven approach makes it much quicker and easier for disparate specialized teams of investigators to rapidly share data, collaborate, and seamlessly move the investigation from one phase to the next as needed.
What’s more, Booz Allen’s approach can benefit businesses across the full spectrum of critical infrastructure industries. For instance, a large global manufacturer would no longer need to resort to one-off, reactive measures when emerging risks threaten its massive attack surface. Instead, our data-driven approach makes it easier for globally dispersed business centers to rapidly share security data and insights. With a worldwide view of risks, corporate leaders are better able to elevate security for the entire organization, even when some parts of the company face particular resource challenges.
Our approach makes it more cost-effective to store massive quantities of cybersecurity data for longer periods of time, which lets organizations start leveraging the benefits of security analytics at scale in real time. And this, in turn, can help enable advanced cybersecurity that uses predictive analytics and turns threat intelligence into actionable insights.
When standing up a fusion center, an organization has the flexibility to begin with basic capabilities and then upgrade to advanced and leading capabilities over time. In the financial sector, for example, basic capabilities would focus on protecting customer accounts and reducing the time needed to investigate alerts. Basic metrics for a bank could include fraud losses, losses prevented and losses recovered, as well as fraud claim volumes and fraud claim amounts.
A bank with advanced capabilities could aim to reduce customer friction and to identify stale alerts and fraud whitespace, in which case metrics might include the reduction in false positives and true declines, as well as the deployment or reduction of new fraud alerts. In addition, a bank with leading capabilities could aim to improve the efficiency of operations and analytics and effectively manage fraud through multiple customer channels. Metrics for such leading efforts could include the number of manual processes reduced due to automation as well as the number of new fraud models.
Businesses that embrace leading cyber risk management approaches can gain a competitive advantage. There has never been a better time to improve your organization’s cyber risk posture. Contact us to learn more and get started.
