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Cyber Security Resilience Framework Overview

Oct 24, 2024

Notes on Cyber Security Resilience and Framework (CSCRF) Lecture

Introduction

  • Topic: Automating the Cyber Capability Index (CCI) within the Cyber Security Resilience Framework (CSCRF).
  • Importance: Organizations must automate the capabilities to calculate CCI as mandated by SEBI's circular.
  • Interactive Session: Questions from the audience are encouraged.

Overview of CSCRF

  • Cyber Security and Cyber Resilience Framework (CSCRF):
    • Aimed at enhancing organizational resilience against cyber threats.
    • Acknowledges that all organizations are vulnerable to cyber attacks.
    • Focus on recovery post-incident is crucial.

Purpose of CSCRF

  • Developed to combat the increasing sophistication of cyber threats.
  • Protects investors and financial market infrastructures from cyber risks.
  • Ensures uniform cybersecurity standards across financial entities.

Applicability

  • Entities Required to Comply with CSCRF:
    • Investment funds, banks, clearing corporations, credit rating agencies, custodians, etc.
    • Total of 19 categories of regulated entities.

Importance of Compliance

  • Cyber incidents can have a domino effect across the financial ecosystem, impacting even smaller organizations.
  • Example: A cyber attack on a UPI service would disrupt transactions at all participating businesses.

Five Pillars of CSCRF

  1. Anticipate: Understanding potential threats.
  2. Withstand: The capability to contain and withstand attacks.
  3. Recover: Rapidly recovering from incidents.
  4. Evolve: Continuously improving cyber risk posture and maturity.
  5. Cyber Capability Index (CCI): Measures the maturity of cyber security capabilities.

Cyber Capability Index (CCI) Levels

  • 91-100: Exceptional
  • 81-90: Optimal
  • 71-80: Manageable
  • 61-70: Developing
  • 51-60: Bare Minimum
  • <50: Failed Index (not good for business)

Automation and Tools

  • Zeron Control Framework (ZCF): Designed to automate CCI calculations and report generation.
  • 80% of controls automated; 20% require manual input.
  • Integration with 400+ cybersecurity solutions.

Report Generation

  • Allows submission for audit and easy access for auditors.
  • Reports can be directly sent to SEBI post-audit.

Key Deadlines

  • Deadlines for Compliance:
    • 1st January: Entities with existing cybersecurity frameworks.
    • 1st April: All other entities (new compliance).

Organizational Response to Compliance

  • Organizations are divided in their response:
    • Some are proactive and eager to comply.
    • Others are waiting until closer to deadlines.

Additional Information

  • Templates and resources for compliance provided by Xeron.
  • Organizations must automate reporting processes as per SEBI requirements.

Conclusion

  • Emphasis on the importance of cybersecurity and resilience.
  • Encouragement to reach out for assistance with compliance and automation.
  • Reminder: Stay secure and resilient in cyber practices.

Full transcript