![]() Cyber Risk Examplesĭata is most vulnerable during process or transport, which offers a prime opportunity for attack. How would you feel knowing all your business’s sensitive information, including customers’ personal data, could be accessed by an invader with malicious intentions? Pretty unsettling, right?Įxposing sensitive customer data also puts enterprises at risk of violating data privacy and cybersecurity regulations. The majority of cyber-attacks are designed to access organizational data, which introduces a significant cyber risk today-data breaches. A minor weakness in an organization’s defense is all that’s necessary to allow a network invasion. Hackers work around the clock, assisted by automated bot armies seeking any vulnerability they can exploit. Today’s most prominent and worrisome risks are the threat of cyber attacks. Risks can originate anywhere–externally from viruses or third-party vendors with weak security posture or internally from rogue employee sabotage or the failure of lax security practices such as not regularly patching software. ![]() Cyber risk is based on the probability of a bad event happening to your business’s information systems, leading to the loss of confidentiality, integrity, and availability of information. Risk implies a degree of probability or the chance of an event occurring. Cyber RiskĬyber risk can be understood as the potential (chance) of exposing a business’s information and communications systems to dangerous actors, elements, or circumstances capable of causing loss or damage. So, what exactly is cyber risk, and how can your organization protect itself while continuing to innovate in the digital age? This article will explore cyber risk and how your organization can effectively manage it while continuing to enjoy the benefits of advancing technology. But they also increase cyber risk exposure. Advancements like cloud migration, 3rd-party vendors, and mobile devices surely boost convenience. ![]() ![]() Today’s technology is undoubtedly making business processes faster, more mobile, and more efficient. Today, companies in every industry are asking themselves, “Will we be next?” 61% of all tech companies surveyed in the 2021 IT Compliance Benchmark Survey experienced a security breach or privacy violation in the last three years. Ransomware is exploding, with experts predicting an attack every 11 seconds in 2021. Another corporate giant crumbles with the embarrassment of exposing countless names and emails of trusting customers. The discouraging numbers continue to grow as the latest high-profile breaches make headlines. ![]()
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