Cyber Risk Management - Challenges and Remedies

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Cyber Risk Management
Challenges and Remedies
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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.

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• 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.

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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.

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• 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

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Challenges In Cyber Threat Management

• There are so many challenges that are related to
  Cyber threat Management.
• The three major challenges are listed below
• Lack of visibility
• Lack of insights
• Skill shortage

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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

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• 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

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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.