Page 58 - Mariners Cricket Club (Singapore) - Souvenir Magazine 2020

prepared” to cope with these threats and transition to working remotely. On the other
hand 54% of companies, indicated that they were “somewhat prepared”, while 3% said
they were “not prepared” for the transition. Roughly 76% of the respondents plan to
increase their investment in cybersecurity policies to support remote working. At this

juncture it is imperative to understand the fine line of difference between Cybersecurity
And Cyber Resilience. While precautions to avoid crime is a given priority, it is also
essential to build up a company’s ability to mitigate damage if systems or data have
been compromised. One way of thinking about the difference is that cyber resilience
involves accepting the fact that no cybersecurity solution is perfect or capable of
protecting against every possible form of cyber threat.

Companies that carry good BCP practices should revisit their risk assessment on critical
processes to include a response management that can include a pandemic scenario.
The COVID-19 pandemic has caused a huge strain on the global economy with some
experts predicting a recession as part of the after effects of the pandemic. In conclusion,
COVID-19 will change our lives forever with new work styles, new cybersecurity issues,
new proposed policies, personal hygiene etc.

Mariners’ Cricket Club (Singapore) 58