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Whether you’re launching a new product, opening a factory, or storing sensitive data, you can practically count on risks appearing. Just in 2023, there were more than 20,000 cases of compromised business email scams. To navigate this cybersecurity “minefield,” it’s essential to find the right balance of risk appetite vs. risk tolerance. Is there a … Understanding Risk Appetite vs. Risk Tolerance
In today’s complex digital arena, businesses of all sizes face mounting cybersecurity threats. Understanding the interconnected concepts of risk vs. threat vs. vulnerability is the foundation for building a strong defense strategy. To safeguard your organization against the potentially devastating consequences of a cyberattack, you must understand these critical concepts and how they relate to … Defining Risk vs. Threat vs. Vulnerability
There were over 3,000 data breaches in 2023, and they affected more than 350 million consumers. In the same year, 2,700 businesses were hit by supply chain attacks, an increase of 2,600% compared to just five years ago. These alarming statistics highlight the growing importance of conducting an up-to-date risk assessment to protect your business … 13 Risk Assessment Methodologies and When To Use Them
You can’t have risk management without performing a risk analysis first. What type of methodology should you use to conduct your assessment? Comparing qualitative vs. quantitative risk analysis methods can help you determine which is the right fit for different situations. Understanding the Qualitative Risk Analysis and Quantitative Risk Analysis Methods Risk assessments play a … Qualitative Risk Analysis Vs. Quantitative Risk Analysis
Life would be great if you didn´t need to worry about failed projects, cyberattacks, shoplifting, or other business risks. Unfortunately, every business venture carries varying degrees of risk. Successfully managing these risks is the hallmark of experienced entrepreneurs. To implement an effective risk framework for your organization, you need to understand what risk appetite is … What Is Risk Appetite?
In the United States, almost 80% of consumers have a credit card, and over 90% of Americans use either credit cards or debit cards for purchases. Considering how many people opt to pay with a card (or mobile app), it’s no surprise that over 10 million businesses in the U.S. accept credit cards. With these … 7 Benefits of PCI DSS Compliance
Understanding 4th Party Risk Management Many companies execute 3rd-party risk management (TPRM) programs to protect themselves. However, 4th-party risk management plans are fast becoming critical to prevent serious security and financial damage. It’s possibly due to a lack of attention to this issue that user account breaches surpassed 20 million in Q2 of 2023. Since … Understanding 4th Party Risk Management
When running a business of any size, risk management and compliance are of the utmost importance. Both should be top priorities in your business operations, as they ensure your company’s continued success and survival in the industry. Believe it or not, though, these two have a lot in common and can be managed as part … How Risk Management and Compliance Are Connected
Data breaches are among modern companies’ worst nightmares. They can spell disaster for businesses and lead to permanent damage, both financially and in terms of reputation. Thankfully, there’s a solid way to determine your readiness to defend against threats like these: a PCI compliance risk assessment. Here’s what to know about PCI assessments and how … What to Expect From a PCI Compliance Risk Assessment
Power outages, data loss, pandemics, or natural disasters can strike at any time and seriously impact your ability to do business. In many cases, these disasters are unforeseen or unpreventable. Companies that neglect to take proper precautions for business continuity and disaster recovery can face significant financial losses or even closure in the aftermath of … Defining Business Continuity vs. Disaster Recovery
