The Importance of Cyber Security for Resilience

How vital is cybersecurity for the global community, their key stakeholders, and society on an international scale?

At our latest global seminar, we unpacked how cybersecurity has become one of the most important concerns across countries and economies globally. There are an increasing number of cyberattacks in various sectors of the tangible economy (e.g. energy infrastructure) and nontangible economy (e.g. social platforms). It has become imperative to consider appropriate approaches to address cybersecurity risks. Cyber resilience is key to business continuity, sustainability, and the growth of economies.

In the USA, the Cybersecurity and Infrastructure Security Agency (CISA) leads the national effort to protect and enhance the resilience of the nation's physical and cyberinfrastructure. According to CISA, sector-specific guidance has been completed by all six critical infrastructure sectors for which the Department of Homeland Security, Office of Infrastructure Protection is the Sector-Specific Agency (SSA): Chemical, Commercial Facilities, Critical Manufacturing, Dams, Emergency Services, and Nuclear.  

According to the European Central Bank, cyber resilience refers to the ability to protect electronic data and systems from cyberattacks, as well as to resume business operations quickly in case of a successful attack. Similarly, according to the UK government, cyber resilience is the ability for organisations to prepare for, respond to, and recover from cyber attacks and security breaches. In relation to Japan, there are concerns that it is reliant on the United States in cyber resilience due to constitutional constraints on offensive military capability.

Key Discussion Points