Data breaches wreak havoc on businesses around the world, especially when it comes to cash. According to a recent survey by IBM, the median cost of a data breach was $4.24 million for the organizations surveyed. And for some organizations, that number could seriously compromise business success.
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Organizations need to be proactive when it comes to protecting their IP addresses, certificates, storage buckets, and web inventory. With products like the Internet Intelligence Platform, Censys, a sponsor of this publication, can help your organization have the most comprehensive inventory of your organization’s Internet assets.
Being proactive is the answer
It’s easy to focus on risk response when it comes to stopping security threats in their tracks. After all, every second an incident is allowed to continue adds up. While the response is critical, taking steps to prevent security incidents is critical as well.
In a recent survey conducted by OnSolve and Forrester, 52% of respondents agreed that protective risk management is just as important as effective risk response. This means doing whatever it takes to effectively manage risks before they become active threats.
Best Practices for Security Risk Management
To up your security risk management game, these industry best practices will help you understand and mitigate risks before they take hold.
Identify risks unique to your organization
First, you must identify potential threats that may affect your organization by conducting a security risk assessment. This involves evaluating your IT systems and critical networks to identify areas of risk. After evaluation, your results can include everything from poor employee password hygiene to faulty firewalls.
Implement a risk management strategy.
Like any other business initiative, you need a plan. Your strategy should include the potential risks you have identified for your organization, the likelihood of their occurrence, and your response plan in the event of an active threat.
This strategy should be communicated to all potential parties involved and updated at least quarterly based on emerging risks threatening your business.
Improve your security measures
As you perform your risk assessment and begin to develop your risk management game plan, you will discover areas where current security measures are less than desirable. You can take the necessary steps now to eliminate potential threats from these security holes. For example, maybe you need to enable two-factor authentication for your employees or enact a new BYOD policy.
You’re not sure where to start? The experts at TechRepublic Premium have you covered. Here are three step-by-step resources to guide you as you develop a armored security risk management program: a sample risk management policy, a risk assessment checklist, and a cybersecurity response glossary.
Limited time offer on TechRepublic Premium subscriptions: Get 30% off an annual subscription to TechRepublic Premium using code bf22-30. This great offer ends December 7, 2022, so act now and start getting access to hundreds of ready-made IT and management policies, recruitment kits, checklists, and more.
Risk Management Policy
Developing a solid risk management strategy is not easy. After all, there are many moving parts, such as users, data, and systems. However, a risk management policy can provide you with guidelines for establishing and maintaining appropriate risk management practices.
This sample policy looks at everything from identifying insurable vs. uninsurable risks to establishing incident responses and investigations. You’ll also discover guidelines related to implementing controls, monitoring threats, and conducting risk assessments. Additionally, this policy can be customized to fit the unique needs of your organization.
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Checklist: security risk assessment
Performing a security risk assessment is critical to understanding the areas where potential security threats lie. Begin your assessment by listing all of your critical business and IT items, including your physical offices, computers, servers, and data. Then rank each of these items based on their value to ongoing operations.
This simple security risk assessment guide outlines the next steps you’ll need to complete, and the attached checklist provides a step-by-step guide to completing foolproof risk assessments within your organization.
Quick Glossary: Cybersecurity Attack Response and Mitigation
Sometimes a lack of knowledge can be a serious security risk. It’s true. An employee unaware of potential security risks can click a single malicious email that results in a network takeover. The more he understands his team about potential threats, cybersecurity, and mitigation, the better prepared he’ll be.
This quick glossary includes a variety of cybersecurity terms and their definitions. Familiarity with these terms will help you and your team protect your sensitive business data before and during a security incident.
Read more about the threats discovered by Censys next-generation web scanning. Then click here to learn more about what Censys, a leader in attack surface management solutions, can do for you and your organization.
Limited time offer on TechRepublic Premium subscriptions: Get 30% off an annual subscription to TechRepublic Premium using code bf22-30. This great offer ends December 7, 2022, so act now and start getting access to hundreds of ready-made IT and management policies, recruitment kits, checklists, and more.
