Cyber Risk Management - Challenges and Remedies

Cyber Risk Management Challenges and Remedies

INTRODUCTION ● Cyber threats are increasing day by day. ● Adopting a risk-based cyber security strategy where you continually examine your risks is the most effective way to safeguard your organisation against cyber threats. ● The process of detecting, assessing, evaluating, and responding to your company's cyber security concerns is known as cyber risk management.



● A cyber risk assessment is an initial step in any cyber risk management programme. ● This will provide you with a quick overview of the dangers that could jeopardise your company's cyber security, as well as their severity. ● Your cyber risk management programme establishes how to prioritise and respond to such hazards based on your organization's risk appetite.

Why Is Cyber Threat Management Important? ● As the number of threats and the intricacy of attacks continue to rise, numerous organisations are struggling to stay afloat. ● The Cyber threat management platform is more critical than ever for organisations because it improves collaboration across people, technology, and processes, providing them with the greatest chance to spot risks earlier and respond faster.

Businesses that successfully adopt the Cyberthreat intelligence platform paradigm generally reap the following benefits: ● Reduce risk by detecting threats faster ● Lower chances for data loss ● Improves cyber defence capabilities of an organization ● Increase the speed of response

Challenges In Cyber Threat Management ● There are so many challenges that are related to Cyber threat Management. ● The three major challenges are listed below: 1. Lack of visibility 2. Lack of insights 3. Skill shortage



Remedies ● Threat management is a difficult task, especially when today's businesses want their threat management efforts to align with their compliance management activities. ● As a result, the optimal threat management solution should primarily: ○ Solve a variety of data-centric information security problems ○ Detect advanced persistent and pervasive attacks in real-time ○ Detect any type of data leaking automatically

● Investigate internal dangers ● Provide a comprehensive malware analysis ● Deliver comprehensive security, IT governance, and risk compliance solution that can be readily monitored via an integrated dashboard. ● Provide a comprehensive end-to-end automated corporate security solution that addresses compliance, auditing, and risk management requirements. ● Keep an eye out for potential hazards

CONCLUSION ● The backbone of a business is its network, information systems, databases, and processes. ● As a result, they must be protected from both internal and external dangers. ● Hence, adopting the appropriate cyber threat management platforms can help to avoid data breaches and protect a company's networks, systems, and assets.