Raphael John-Lall
A major cybersecurity vulnerability affecting software used by a large proportion of the world’s websites has highlighted how businesses can remain exposed to threats they may not even know exist, according to Dr Ronald Walcott, managing director of Precision Cyber Technologies and Digital Solutions Ltd (PCDS).
Walcott told the Business Guardian that the incident involving PHP, a programming language used to power websites and online applications, demonstrated the need for greater cybersecurity awareness, including among businesses that may believe their digital systems are adequately protected.
Last week, BBC, CNN and other international media outlets reported that websites around the globe went dark after a serious vulnerability was found in a computer language used to build much of the world wide web.
“The PHP issue that happened globally, that affected close to 75 per cent of the world’s internet, WordPress, Facebook, Wikipedia, all of them were affected, was not known. So even globally, something as fundamental as that was not known,” he said.
Walcott’s interview with the Business Guardian was a follow up to the PCDS’s three-day conference, “Cyber Resilience, the Business Experience”, held from October 21 to 23 at the Trinidad and Tobago Chamber of Industry and Commerce in Westmoorings.
The event attracted between 80 and 100 participants daily and focused on practical ways businesses could strengthen their ability to withstand cyberattacks, maintain operations and recover from incidents.
According to Walcott, a former CEO of majority state-owned TSTT, PCDS provides cybersecurity and digital solutions and represents more than 100 brands, with access to more than 200 international engineers. Walcott said the company had also partnered with the Inter-American Development Bank and the University of the West Indies to develop cybersecurity laboratories, with the aim of building local and regional skills and expertise.
The company plans to hold the conference annually, with Artificial Intelligence among the possible themes for next year’s event.
Cyberattacks are growing
Walcott also warned about the growing dangers of this trend.
“Cyberattacks are at an all-time high and they’re actually becoming much more prevalent.”
He said the growing interconnectedness of the world, while supporting digital transformation, economic expansion and cross-border business, also exposed organisations to global cyber threats.
Walcott advised the business community that cybersecurity could no longer be treated as an issue confined to information technology departments, given the increasing dependence of businesses and public services on digital systems.
“When we say cybersecurity, these were protecting assets, which is very important. But cyber resilience says, even if I was to sustain a significant attack tomorrow, a ransomware attack, some type of DDoS attack or some other business email compromise, etc., can I still function? Can I still operate, provide customer service and recover?”
He argued that cyber incidents could affect business operations, healthcare and government services, with consequences extending beyond the systems directly targeted. As more transactions move online, organisations face increasing pressure to ensure that their systems remain secure and that essential services can continue during disruptions.
Walcott said businesses should begin by understanding their exposure and assessing the potential consequences of an attack before deciding how much risk they were prepared to accept.
“What we ask people to do, first of all, is understand your business risk. This is another business risk. Now, you may decide to take on the risk, which is fine. That’s a business decision,” he said.
He added that cyberattacks have always been prevalent in T&T and the wider Caribbean, but their extent could be difficult to establish because organisations generally did not disclose incidents.
“It’s just that there are no mandates that says that you must disclose. So, people generally don’t. But the fact is that there are more cyberattacks happening now than you might think,” he said.
Security is not expensive
Walcott said businesses could begin improving their cybersecurity through relatively straightforward measures, challenging the perception that effective protection necessarily required substantial financial investment.
He pointed to basic cyber hygiene, including reliable backups, staff training, awareness campaigns and crisis simulations, as practical starting points.
“There are a lot of cyber hygiene things that you can do that are not very costly. So, people always think about cybersecurity and cyber resilience as a cost,” he said.
He added, “The truth is, for example, a lot of businesses have licences that have cybersecurity features that are not enabled. And you could find that cyber training, awareness campaigns, crisis simulation, tabletop exercises, these are all simple things that a business can do that really doesn’t cost you anything really.”
Walcott said reliable backups could make a significant difference in determining whether an organisation could recover after an attack, while training employees and rehearsing responses to a crisis could help businesses prepare before incidents occurred.
Walcott also said the objective was to help business leaders understand the changing digital environment and adopt appropriate practices.
“It’s not about fear-mongering. It’s just about understanding the environment that we’re in, and being able to adequately prepare and preserve your business operations, which for the most part, as I said before, could be done initially with some simple hygiene factors.”
Technology for business executives
Cybersecurity professionals must learn to translate technical risks into business costs if they are to convince company executives to allocate resources to protecting their organisations, according to Shiva Bissessar, managing director of Pinaka Consulting Ltd.
Bissessar, who spoke at one of the panels at the cybersecurity conference, told the Business Guardian that executives needed greater awareness of cybersecurity threats because they controlled budgets and made decisions about how resources were allocated. However, he suggested that technical discussions could make it difficult for business leaders to appreciate the implications of cyber risks.
Bissessar said the audience recognised the need for more engagement with business executives.
He said one suggestion was for cybersecurity professionals to take a bottom-up approach by communicating the importance of cyber resilience to senior management, rather than waiting for executives to initiate discussions.
Bissessar said technical professionals also needed to adapt how they communicated with business leaders, focusing on the operational and financial consequences of cyber incidents rather than technical details alone.
“You have to adapt the language of the session to facilitate the executives,” he said.
Bissessar added that cybersecurity specialists needed to move beyond technical measurements, such as the number of software patches that had to be applied, and explain how vulnerabilities could affect business operations and profitability.
He said executives were more likely to understand the significance of an incident when its potential impact was expressed in terms of downtime and the associated financial costs.
“So, you speak to them about downtime, and then you translate that downtime into what is the cost of that downtime.”
He argued that this ability to move between technical and business perspectives was essential for professionals seeking to secure the resources required to strengthen their organisations’ cyber resilience.
Bissessar also suggested that Artificial Intelligence could help technical professionals develop this capacity, particularly those who needed to communicate complex issues in language that non-technical decision-makers could understand.
Drawing on his own experience of using AI to bridge gaps in his technical knowledge, he said the technology could assist professionals in translating cybersecurity concerns into practical business terms.
The approach, he suggested, could help organisations improve communication between technical teams and senior management, ensuring that decisions about cybersecurity reflected the potential consequences for the wider business.
