Building Cyber Resilience: Lessons Learned from the Crowdstrike Patch Error

Your business is running smoothly, using third-party technologies to streamline operations. Suddenly, one of your vendors issues an erroneous patch to your systems, causing widespread disruptions for your business. How prepared are you to face such challenges? This is where cyber resilience steps in, acting as a safety net for your business.

Cyber resilience is the ability of an organization to prepare for, respond to, and recover from cyber threats and incidents. It’s not just about preventing cyber attacks, but also about ensuring your business can bounce back quickly and efficiently when an incident occurs.

Recently, we’ve seen numerous instances where third-party technologies have been the source of significant cyber issues. The Crowdstrike patch error, for example, caused a ripple effect, impacting various sectors, including airlines, financial institutions, and hospitals. This incident serves as the newest reminder of the urgency to build cyber resilience programs.

In today’s post, we’ll delve deeper into the concept of cyber resilience, using the Crowdstrike patch error as a case study. We’ll discuss actionable steps to enhance your organization’s cyber resilience.

Understanding Cyber Resilience

Businesses need more than just a strong defense against cyber threats. They need the ability to bounce back quickly and effectively when a cyber incident occurs. This is where cyber resilience comes into play.

Cyber resilience is the capacity of an organization to prepare for, respond to, and recover from cyber threats and incidents. It’s like a superpower that helps businesses keep going even when faced with cyber attacks. It involves creating strategies to prevent breaches, reduce risks, and speed up response and recovery times.

But isn’t that what cyber security does? Well, not exactly. While cyber security focuses on protecting systems and data from attacks, cyber resilience goes a step further. It ensures that even if a breach happens, the organization can still operate and deliver services. It’s about being prepared for the worst-case scenario and having a plan to get back on track as quickly as possible.

The need for cyber resilience becomes even more crucial when we consider the increasing reliance on third-party technologies. These technologies, while beneficial, can also make businesses more vulnerable to cyber attacks and failures. If not managed properly, they can pose significant risks to financial stability and integrity.

So, in a nutshell, cyber resilience is about being ready for anything and everything in the cyber world. It’s about having a plan B, C, and even D, to ensure business continuity no matter what. And since third-party technologies have become the norm, it’s not just an option, but a necessity.

The Crowdstrike Patch Error: Another Wake-Up Call

A single mistake can cause a domino effect of disruptions across various sectors, from airlines to banks, media to hospitals. That’s exactly what happened with the recent Crowdstrike patch error.

Crowdstrike, a renowned cybersecurity firm, made an error in an update to their windows agent software. This faulty update affected multiple industries, leading to widespread disruptions in their Windows workstations. The incident, already considered one of the most significant cyber issues of 2024, had a dramatic impact on business processes globally.

The Crowdstrike patch error serves as a harsh reminder of the potential scale and cost of disruptions in today’s interconnected business world. It underscores the fact that even a minor glitch in third-party technologies can have far-reaching consequences, causing operational hiccups and financial losses.

The financial impact of technology outages emphasizes the importance of cyber resilience. Recent data shows that the average cost of downtime in 2024 can range from $8,000 to over $1 million per hour, depending on the size and industry of the business. High-risk industries such as finance and healthcare may face even higher costs. These figures underscore the need for businesses of all sizes to prioritize cyber resilience and minimize the risk of technology outages.

The incident is a wake-up call for businesses to rethink their cyber resilience strategies. It’s not just about protecting your own systems, but also about ensuring that third-party technologies you rely on are resilient. Chains are only as strong as their weakest links.

Lessons Learned: Building Stronger Shields

Every cyber incident, big or small, creates valuable lessons. Recent cyber issues, including the Crowdstrike patch error, have taught us a lot about vulnerability and preparedness.

It’s clear that having an incident response plan is no longer a luxury, but a necessity. This plan should outline the steps to take when a cyber threat is detected, ensuring minimal damage and quick recovery.

Cyber resilience training is vital for organizations to effectively respond to and recover from cybersecurity incidents. Just as we adapt to new challenges in life, our digital defenses and recovery capabilities need to evolve constantly. Regular resilience-focused training keeps your team prepared to handle the latest threats and maintain business continuity in the face of disruptions.

Here are some key aspects to focus on for cyber resilience training:

1. Incident response simulations: Conduct regular tabletop exercises and full-scale simulations of various cyber incident scenarios. This helps teams practice their roles and responsibilities during an attack.
2. Business continuity planning: Train staff on backup and recovery procedures, alternate communication channels, and how to maintain critical business functions during an incident.
3. Crisis communication: Practice internal and external communication strategies for different types of cyber incidents to ensure clear, timely, and appropriate messaging.
4. Adaptability training: Develop skills in quick decision-making and problem-solving under pressure, as cyber incidents often require rapid adaptation to evolving threats.
5. Cross-functional collaboration: Train teams from different departments to work together effectively during an incident, breaking down silos that could hinder response efforts.
6. Technology recovery: Provide hands-on training with backup and recovery tools to ensure staff can quickly restore systems and data after an attack.
7. Post-incident analysis: Teach teams how to conduct thorough post-mortem reviews to continuously improve resilience strategies based on lessons learned.
8. Threat landscape updates: Regularly educate staff on emerging cyber threats and attack techniques to help them anticipate and prepare for new challenges.

Focusing on and including these resilience-specific aspects in your training program can help you build a workforce that’s not just prepared to prevent attacks, but also equipped to minimize damage, maintain operations, and quickly recover when incidents do occur.

Cyber resilience isn’t a one-time task, but a continuous journey. It’s about learning, adapting, and improving.

Managing Third-Party Technology Risks

Businesses increasingly rely on third-party technologies. While these tools can bring efficiency and innovation, they also come with risks. Let’s dive into these challenges and explore strategies to manage them effectively.

Third-party technologies can introduce unidentified points of failure. Imagine a chain where each link is a different technology. If one link breaks, the whole chain can fail. This is why it’s crucial to identify and manage these risks.

To effectively manage vendor cyber resilience risk, organizations should implement a comprehensive third-party risk management program:

• This includes conducting thorough security assessments of vendors, using tools like security ratings and questionnaires to evaluate their cybersecurity postures.
• Establish strong vendor management practices by implementing a vendor risk management framework, such as NIST CSF, to identify, assess, and mitigate risks throughout the vendor lifecycle. Continuously monitor vendors for potential security issues and vulnerabilities, including fourth-party risks.
• Develop clear security requirements and expectations for vendors, incorporating them into contracts. Implement a robust vendor due diligence process during onboarding and maintain ongoing communication about cybersecurity practices.
• Create incident response and business continuity plans that account for vendor-related disruptions. Regularly review and update your vendor risk management program to address evolving threats and regulatory requirements.

Steps to Enhance Cyber Resilience

Cyber resilience is not a one-time fix, but a continuous exercise. Here are actionable steps to enhance your business’s cyber resilience:

1. Risk Assessment: Start by identifying your critical assets and potential threats. This will help you understand where to focus your efforts.
2. Incident Response Plan: Develop a robust incident response plan. This plan should outline steps to take when a cyber incident occurs, including who to contact, how to contain the threat, and how to recover.
3. Regular Training: Regularly train your team on cybersecurity best practices. This will help them spot potential threats and respond appropriately.
4. Integrate Cyber Resilience into Business Continuity Planning: Cyber resilience should be a part of your overall business continuity plan. This ensures that your business can continue to operate even in the face of a cyber attack.
5. Continuous Improvement: Foster a culture of continuous improvement. Regularly review and update your cybersecurity measures based on new threats and best practices.
6. Test Your Defenses: Regularly test your cyber defenses. This can help you identify weaknesses and improve your response times.
7. Partner Wisely: When working with third-party technologies, choose partners who prioritize cybersecurity. Regularly review their security measures to ensure they meet your standards.

Recap and Looking Ahead

Cyber resilience is a necessity. As we’ve seen from today’s Crowdstrike issue, even a small glitch can have far-reaching consequences. It’s not just about protecting your business from cyber threats, but also ensuring that you can bounce back quickly and efficiently when incidents occur.

Throughout this post, we’ve explored the importance of cyber resilience, the lessons learned from the Crowdstrike incident, and actionable steps to enhance your business’s cyber resilience. We’ve also discussed the challenges and risks associated with third-party technologies and strategies for effective third-party risk management.

As we look to the future, the need for cyber resilience will only continue to grow. With the ongoing digital transformation, businesses are becoming increasingly reliant on technology, making them more vulnerable to cyber threats. However, by adopting a proactive approach to cyber resilience, businesses can turn these challenges into opportunities for growth and improvement.

I encourage you to take proactive steps towards enhancing your cyber resilience. Start by assessing your current cybersecurity measures, developing a robust incident response plan, and fostering a culture of continuous learning and improvement.

I would also love to hear from you. Have you faced any cyber resilience challenges in your business? What steps have you taken to enhance your cyber resilience? Share your experiences and thoughts in the comments section below. Let’s learn from each other and build a more resilient business community together.