Cyber Security 101

What is cyber security?

Cyber security comprises technologies, processes and controls that are designed to protect systems, networks and data from cyber attacks. Effective cyber security reduces the risk of cyber attacks, and protects organisations and individuals from the unauthorised exploitation of systems, networks and technologies.

What are the main cyber risks?

The IT/Cyber Risk Assessment contains over 800 different risk factors tailored to over 40 industry sectors, organised across different risk groups:

Enterprise Framework Risk

Organisational context, IT Risk Assessment Framework, IT Risk Management Program, IT Policies and Procedures, Employee Due Diligence, Training and Awareness and Independent Review.

Internal Risk

Operational Risks related to Technology, Technical Risks, Physical Risks, Environmental Threats and Support Infrastructure Threats.

External Risk

Operational Risks related to Technology, Technical Risks, Physical Risks, Environmental Threats and Support Infrastructure Threats.

Project Delivery Risk

Program and Project Management, Project Initiation and Scoping, Proof of Concept, Analysis, Design, Development, Testing and Integration, Implementation and Deployment, Post Implementation Reviews, Operations and Maintenance.

Third Party Risk

Organisational context, IT Risk Assessment Framework, IT Risk Management Program, IT Policies and Procedures, Employee Due Diligence, Training and Awareness and Independent Review.

Country Risk – 250+ countries and territories assessed against restricted, high, medium and low risk.

What are the damages of cyber risks?

  1. Loss or damage to electronic data
  2. Extra Expenses to keep your business operating after cyber-attack
  3. Loss of Income
  4. Network Security and Privacy Lawsuits - A cyber thief may steal data stored on your computer system that belongs to customers, vendors and other parties. These parties may sue your firm.
  5. Extortion Losses
  6. Notification Costs - You’re required to notify anyone whose data was breached and to tell the victims what steps you are taking to remedy the situation.
  7. Damage to Your Reputation

Further resources

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