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IDG Contributor Network: How to manage cyber risk

Discussion in 'CSO' started by RSS, Jan 21, 2016.

  1. RSS

    RSS New Member Member

    In the World Economic Forum’s 2015 edition of Global Risks, cyber-attacks were specifically cited as a clear and present danger to business and government. The report stated, “2015 differs markedly from the past, with rising technological risks, notably cyber attacks…”. We’re going to shed some light on this dark art and show you some of the more important aspects of managing cyber risk.

    What is cyber risk?

    According to National Institute of Standards and Technology (NIST) Special Publication 800-30, “Risk is a function of the likelihood of a given threat-source’s exercising a particular potential vulnerability, and the resulting impact of that adverse event on the organization.” While the Information Systems Audit and Control Association (ISACA) in the Risk IT Framework defines it as, “The business risk associated with the use, ownership, operation, involvement, influence and adoption of IT within an enterprise.” To boil it down into its simplest terms, “Risk is the likelihood that something bad will happen.”

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