Last Updated on March 1, 2024 by asifa
One of the many important changes that our society has undergone throughout the 21st century is the growth of technology. Tech has grown immensely throughout the past two decades, and in 2021, there is no entity more imperative than technology to our society as a whole. Technology has certainly opened up a myriad of doors, and while most of them are positive, one of the negatives it has created is the rise of online threats. These threats can attack individuals as well as businesses, which is why it is so important to manage digital risk. Digital risk management is a growing sector, as businesses understand that they need to protect themselves against online threats and that there is major potential for downfall if not. There are numerous imperative facets of running a digital risk management campaign, and learning about the essentials of this process will prove to be critical as you protect your enterprise.
Table of Contents
Defining Digital Risk
When creating a strategy to diminish and manage your company’s digital risk, it is critical for you to learn what exactly digital risk is. Digital risk comes in many shapes and sizes, and is not one singular entity. Digital risk is defined as any weakness in your business’ security systems that has the potential for any type of exposure. Any enemy of your company or just a hacker who is looking to steal your company’s data can see any holes in your security system, which could lead to a violation of privacy laws, the possibility your company’s reputation could be damaged, as well as the loss of sensitive data. When building a strategy to combat digital risk, it is imperative to learn about the many ways your company can protect itself.
Learning to Manage Digital Risk
In order to get the most out of your digital risk strategy, it is imperative for you to know exactly how you are going to run your operation. It is critical for you to understand the 3 main facets of protection, which are online brand security, attack surface reduction, and data loss detection. There are many types of possibilities for leaks, and your company needs to prepare itself to mitigate risk in these areas. You can do this by taking 4 main actions to create a safer enterprise.
The first step is to identify your critical business assets, so you can determine what you need to protect. Then, you will want to figure out what types of threats your business could be involved with, which is the best way to calculate your risk. After that, it is essential for you to monitor for unwanted exposure on a multitude of different avenues, including paste sites, criminal forums, social media, git repositories, file-sharing sites, and more. Finally, you need to take action and protect against digital risk with tactical mitigations, where you remove offending content, operational mitigation, where you can implement monitoring strategies, and strategic mitigation, in which you update risk and threat models.
As your company grows, it is important to protect it against digital risk. Learning about digital risk management is imperative and will let your business stay safe.