Understanding Risks, The Foundation of Great Cybersecurity

Hiking at the Glacier National Park in Montana may seem like a risk-free pastime, but every activity we do has a degree of risk involved. Walking down the trail in Glacier is peaceful but having an encounter with a grizzly bear is not uncommon. The thought of encountering a grizzly bear is frightening, yet thousands of people visit Glacier National Park every year.

Humans have learned that we can be safe during certain activities if we take the necessary precautions. For example, while hiking in grizzly bear territory, it is recommended that one carry some sort of bear spray. Preventive measures minimize the risk of day-to-day activities. For these protective measures to be effective, you need to deploy them in the right situation. The same principle applies to cybersecurity.

Cybersecurity Reduces Risk in the Digital World

There is a wide variety of cybersecurity controls including firewalls, antivirus, and data encryption technologies. These protective measures are designed to protect organizations from different types of threats and vulnerabilities. However, there are limited resources (ie: time, money, and human capital) to implement suitable protective measures.

Managing Your Resources

Limited resources force us to be selective with our cybersecurity controls. The decision to implement protective measures against cybersecurity threats should be based on an organization’s desired risk reduction. If you wish to implement effective cybersecurity resources you need to understand a few things in advance,

1. Unique Events that Involve more risk

  • Ransomware is detected in your network because of social engineering attacks.
  • Employee can lose work devices like laptops, cellphones, or tablets.
  • A hacker gains access to your network’s sensitive data.

2. The Likelihood of these Events Occurring

Consider industry trends, data, existing controls, and unique business operations in an organization. Not all organizations face the same kind of risks. For example, companies that utilize remote working models are exposed to a different set of threats than the ones without remote workers.

3. The Tangible and Intangible Impacts of an Organization

Not having the proper cybersecurity measures can result in serious trouble for your organization. For instance,
  • Inability to conduct normal business operations.
  • Employee health and safety is put in danger.
  • Business reputation can be affected.
  • Weak cybersecurity measures can result in fines or penalties.
  • Revenue loss.
To make the right decision about which cybersecurity measures your company will implement, you must first understand the risks you could be exposed to. The goal of cybersecurity is to reduce overall risk, with that being said, specific events can be painful to deal with. Protective controls that fit your company best will make dealing with these unwanted situations easier.
At BTI we have the expertise and knowledge that your business needs to fight against cybercrime! With more than 35 years of experience in the fields of IT, security, and communications, we have the best solutions available for your budget! Need more information? Contact us to schedule a free consultation.