Cyber Risk

Cyber Risk vs Cyber Threat: Are They The Same Thing?

Cyber Risk vs Cyber Threat: Are They The Same Thing? After the term “cyber threat” began to enter common usage, its meaning became a bit fuzzy. The same goes for “risk” — we’ve all heard the term thrown around, but do we really know what it means and how it is used in IT? In this post, we will attempt to clarify these terms and their relationships. In today’s world, organisations must have high-level data security. Ensuring that client and vendor data isn't compromised is crucial. When customers, clients and vendors sign up to do business with you they expect that their information is deemed important enough for you to do everything in your power to keep it safe. Many clients with sensitive information will also require you to have a clear and thorough data security policy before doing business with you. That begs the question: “How confident are you

By |2023-03-30T17:09:52+00:00March 5th, 2021|Blog|Comments Off on Cyber Risk vs Cyber Threat: Are They The Same Thing?
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How to reduce your cyber risk with the FAIR cyber risk quantification model

How to reduce your cyber risk with the FAIR cyber risk quantification model Cyber risk is very real for organisations, who must constantly manage the risks and threats of cyber related attacks. According to the World Economic Forum's "The Global Risks Report 2021," cyber security failure ranks high among the top ten risks for business in terms of likelihood, outranked only by extreme weather events, livelihood crises and infectious diseases. But if cyber risk isn’t quantifiable, what’s the point? The key for any organisation is to understand exactly how much it's exposed to cyber risk and how much it's likely to lose. By quantifying that risk, you can set limits for your cyber security expenditures and calculate return on those investments. Read on to learn how you can make cyber risk more measurable for your organisation. Cyber Risk Quantification: Understanding the FAIR methodology A large concern in today’s boardroom is

By |2023-03-30T17:09:52+00:00February 18th, 2021|Blog|Comments Off on How to reduce your cyber risk with the FAIR cyber risk quantification model
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Why use the FAIR Model to quantify Cyber Risk for 3rd parties?

Why use the FAIR Model to quantify Cyber Risk for 3rd parties? Historically, questionnaires and or risk scoring have been the traditional tools used to evaluate the risk a 3rd party poses to an organisation. The Findings from questionnaires and risk scoring are often incredibly technical and complicated and are generally presented in heatmap style – red, orange, yellow, green – accompanied by a score and or letter grade, which aren't very useful in quantifying Risk to the business. To understand what the FAIR Model has to offer, let us first look at what we need to articulate to the Board or C-Level. In simplistic terms let’s begin by considering what Risk a 3rd Party could pose to an organisation if they were to share 2,000 data records with them. The Board or C-Level wants to know in financial terms what the cost to business will be if the 3rd Party is breached

By |2023-03-30T17:09:54+00:00January 28th, 2020|Blog|Comments Off on Why use the FAIR Model to quantify Cyber Risk for 3rd parties?
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