What Businesses Can Learn from Luxembourg’s Impressive Commitment to Cybersecurity

Luxembourg have made dramatic progress in their efforts to fortify their cybersecurity efforts. In 2017, the country was ranked 36th in the world  and 20th in Europe by the International Telecommunication Index’s Global Cybersecurity Index. However, owing to significant progress, “the green heart of Europe”, in the space of one single year have reduced their ranking to 11th position worldwide. In Europe they have also managed to reduce their ranking to number 7 out of the 46 countries evaluated.

What Businesses Can Learn from Luxembourg’s Impressive Commitment to Cybersecurity

This index is the main public benchmark for measuring the commitment of UN member states to cybersecurity. The current top three ranked countries are the UK, the US and France. Luxembourg have accelerated their performance in key areas that include inter alliance, legal, technical and organizational framework in the countries as well as capacity building mechanisms and in their cooperation measure with other countries.

Their impressive effort to rapidly reinforce their cybersecurity position are down to some key measures:

 Cybersecurity Best Practice in Luxembourg 

Businesses who wish to take a page out of Luxembourg’s book, can look to how they implement cybersecurity best practice in 3 key ways:

  • On-boarding: Luxembourg have created a cyber security board and cybersecurity competence center
  • Research: Luxembourg are increasing their local knowledge of key cyber security issues from their hiring of 250 cybersecurity researchers
  • Awareness: Luxembourg have implemented awareness campaigns to educate the general public about their role in cybersecurity. After all, human error still accounts for the vast majority of data breeches. According to an IBM report , “over 95% of all [security] incidents investigated recognize ‘human error’ as a contributing factor”.

 Accelerate your cybersecurity performance 

PWC in Luxembourg have  outlined 7 key steps for businesses who wish to accelerate their cybersecurity performance in general to encourage further progress at enterprise level:

  1. Align the businesses cybersecurity strategy with its objectives
  2. Raise awareness of risk exposure – this allows businesses to prioritise risks and understand where best it is to apply controls according to your operational model and business objectives
  3. Monitor regularly the security controls of the enterprise
  4. Determine how your business partner’s risks could affect you
  5. Build and maintain a security culture where people are aware of the importance of their part in the global security level of your company
  6. Develop and test an incident response plan to enable rapid detection and efficient containment when your company will be targeted

 Commit to a secure SOFTWARE provider 

Board portal software transmits and stores some of your most sensitive company data. As such, you must choose a solution that has specific built-in security measures against cyber-attacks and that safeguard data in accordance with the GDPR.  DiliTrust Exec is one such solution, with many security features including 256-bit unidirectional encrypted passwords that go above and beyond industry best practices, ISO-27001 certification for data safety practices, and independent security audits and penetration testing. It also complies with all regulations governing the European Union General Data Protection Regulation (GDPR).

Additionally, all data for European DiliTrust Exec clients is stored solely within France in French data centers, which is a requirement for data storage under some provincial and state requirements for healthcare and government organisations.

If you would like to find out why DiliTrust Exec is an ideal board portal solution for board members concerned about cyber security breaches, contact us today to find out more.