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Cybersecurity Risk Assessment

A cybersecurity risk assessment analyzes your organizations vulnerabilities and effectiveness of your current cybersecurity programs, this may include vulnerability and penetration testing. This detailed analysis of your security controls can find security defects and provide recommendations for improvement.

If your organization has sensitive data such as financial, health related or other data such as social security number, date of birth, then you must conduct an up-to-date cybersecurity risk assessment. This is typically a requirement for all business regardless of state of origination. Protecting your organization from cyber threats is a constant challenge and depends on you understanding your security posture with the goal of protecting your data and your organization’s reputation. All size organizations need a security check up and risk assessment.

Steps to a cybersecurity risk assessment

  1. Work with the critical business stakeholder(s) to determine measures of success for assessment.
  2. Decide the scope of the assessment: the entire organization, a business unit or a specific aspect of the business.
  3. Identify and determine the organization assets
    1. Conduct research on the company with the same tools and process an adversary would use.
    2. Depending on the engagement, conduct assessment against employees, and all publicly exposed digital assets.
    3. Identify and inventory the assets and create an inventory list
    4. Identify threats and vulnerabilities by leveraging tools that adversaries use.
    5. Identify the consequences of a threat
    6. Attempt to breach and access sensitive data as an adversary would.
  4. Analyze risks and determine the impact of a breach
  5. Prioritize the risks and compare the value of the asset with the cost of prevention
  6. Document all risks and create a risk scenario, a strategy plan and how to monitor the progress

An effective cybersecurity plan is an ongoing process and is crucial to the security of the organization. This process should be repeated on a regular basis to reduce the chances of successful cyber-attacks. A risk assessment will allow you to put controls in place to reduce the possibility of a successful cyber attack.

It’s important to hire a seasoned, experienced cybersecurity specialist who has proven experience in combating cyber attacks and aligning the business to meet or exceed government regulations. It is a complex process and requires detailed guidance and knowledge. It is also vital to select a partner who will work with the business in educating the organization to the importance of this assessment and have executive buy-in to the process. Having a cyber security partner who understands your business, and works with the business is vital to a successful risk assessment.

Your cybersecurity programs may include tools, policies, guidelines, risk management training and practices, along with technologies to protect your assets. Your assets may include software, hardware and sensitive data.

Compliance issues

Are you successfully meeting all of your compliance requirements in your particular industry? It’s tough to stay abreast of all of the regulations and requirements if you only have a part time CISO or do not employ a cybersecurity expert.  Whether you are in the private or public sector, if you have sensitive information on your website, you will need to take cyber security seriously.

Cybersecurity threats
Cybersecurity threat is a malicious act that seeks to steal data and assets, damage data, destroy company reputation or disrupt the life of the organization. Cyber threats may include:

  • Account takeover
  • Billing fraud
  • Brute force attack
  • Data breaches
  • Data manipulations
  • Data theft
  • DDoS Attacks (Distributed Denial of Service)
  • DNS hijacking
  • Identifying insider threats
  • Key Loggers
  • Malware
  • Phishing
  • Ransomware
  • Smishing
  • Spear Phishing
  • Spyware
  • Theft
  • Trojans
  • Viruses

Cyber-attacks have become increasingly dangerous to the infrastructure of all types of organizations. Defending your organization against a cyber invasion begins with a detailed cybersecurity risk assessment. Trust the security of your organization to an experienced professional, here at Cyber Assurance. Get started today with a cybersecurity consultation.