How do you calculate a security budget? Is it a percentage of the IT budget? Something else? And why does it grow so drastically after a breach?
Check out this post for the basis for our conversation on this week’s episode which features me, David Spark (@dspark), producer of CISO Series, co-host Allan Alford (@allanalfordintx), and guest Yaron Levi (@0xL3v1), CISO, Blue Cross and Blue Shield of Kansas City.
Thanks to this week’s podcast sponsor, IronNet Cybersecurity
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On this episode of Defense in Depth, you’ll learn:
- The general consensus among the community is cybersecurity is a spend it now or spend more later decision.
- While everyone wants to find a metric to determine how much to spend on cybersecurity, there doesn’t seem to be any that are useful.
- The CISO’s job is to provide data about risks so the business can make the decision about cybersecurity spending.
- Most assume that after a breach there’s more cybersecurity budget, but what you get first is cooperation.
- Look at security as a market differentiator. What if you could withstand a cyber attack but your competition couldn’t? Or possibly you could deliver a higher level of reliability to your customers. How would your business be perceived by the market?
- A business impact analysis calculator can help understand your risk levels. Allan Alford has one his site.
- Many felt the biggest cost to a company suffering a breach isn’t loss of data or the regulatory fines, but the damage to the company brand.
- The cost of proactive protection always beats the cost of suffering a data breach.
- One listener recommended that MBA programs should have a breach case study as part of their curriculum.