Data breaches wreak havoc on businesses around the world, especially when cash is involved. According to a recent research conducted by IBM, the average cost of a data breach was a staggering $4.24 million for the organizations surveyed. And for some organizations, that number can seriously jeopardize the company’s success.
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Organizations need to be proactive when it comes to protecting their IPs, certificates, storage buckets, and web inventory. With products like the Internet Intelligence Platform, Censys, a sponsor of this post, can help your organization have the most comprehensive inventory of your organization’s Internet-facing assets.
Being proactive is the answer
It’s easy to focus on responding to risk when it comes to stopping security threats. After all, every second that an incident remains to continue adds up. While response is critical, so is taking steps to prevent security incidents.
In a recent research conducted by OnSolve and Forrester, 52% of respondents agreed that protective risk management is just as important as effective risk response. This means doing what is necessary to manage risks effectively before they become active threats.
Best practices for managing security risks
To improve your security risk management, these industry best practices will help you understand and mitigate risks before they emerge.
Identify the risks unique to your organization
First, you must identify potential threats to your organization by conducting a security risk assessment. This includes evaluating your IT systems and critical networks to pinpoint risk areas. After the assessment, your results could include anything from poor employee password hygiene to faulty firewalls.
Implement a risk management strategy
Like any other business venture, you need a plan. Your strategy should include the potential risks you’ve identified for your organization, how likely they are to materialize, and your response plan in the event of an active threat.
This strategy should be communicated to all potential stakeholders and updated at least quarterly based on emerging risks that threaten your business.
Improve your security measures
As you conduct your risk assessment and begin to develop your risk management game plan, you will discover areas where current security measures are not desirable. You can now take the necessary action to eliminate potential threats arising from these vulnerabilities. For example, maybe you need to enable two-factor authentication for your employees or implement a new BYOD policy.
Not sure where to start? The experts at TechRepublic Premium have you covered. Here are three in-depth resources to guide you through developing a rock-solid 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 by using code bf22-30. This great deal ends December 7, 2022, so act now and access hundreds of ready-to-use IT and management policies, hiring 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 the guidelines for establishing and maintaining appropriate risk management practices.
This sample policy covers everything from identifying insurable versus non-insurable risks to setting up incident response and investigations. You’ll also discover guidelines for implementing controls, monitoring threats, and conducting risk assessments. In addition, this policy can be customized to meet the unique needs of your organization.
Many organizations have neither the staff nor the protocols—no time, for that matter—to monitor their Internet-facing entities. With the newly launched Web Entities, Censys gives organizations insight into their website and other name-based HTTP content. With Web Entities, Censys, a leader in Internet intelligence for threat hunting and exposure management, helps you discover, monitor, assess and triage your Internet-facing assets so your teams can better defend against attack sites.
Checklist: Security Risk Assessment
Performing a security risk assessment is critical to understanding areas where potential security threats lie. Start your assessment by listing all of your critical IT and business elements, including your physical offices, computers, servers, and data. Then rank each of these elements according to their value to ongoing activities.
This simple security risk assessment guide outlines the next steps to take, and the accompanying checklist provides step-by-step guidance on how to perform foolproof risk assessments within your organization.
Short Glossary: Responding to and Mitigating Cybersecurity Attacks
Sometimes a lack of knowledge can pose a serious security risk. It’s true. An employee unaware of potential security risks may click on a single malicious email that results in the takeover of a network. The more your team understands about potential threats, cybersecurity and mitigation, the more prepared you’ll be.
This short glossary contains a series of cybersecurity terms and their definitions. Knowing 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’ state-of-the-art 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 by using code bf22-30. This great deal ends December 7, 2022, so act now and access hundreds of ready-to-use IT and management policies, hiring kits, checklists, and more.
