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The first step in effective cyber risk management is understanding the threat landscape. This includes identifying the types of threats that your business is most likely to face, and the potential impact of those threats. Common types of cyber threats include:
Once you have a general understanding of the threat landscape, the next step is to assess your business's specific cyber risk. This includes identifying potential vulnerabilities and attack vectors and determining the impact that a successful attack could have on your business. Some key areas to consider when assessing your cyber risk include:
Once you have a clear understanding of your business's cyber risk, you can begin implementing measures to protect against it. This includes both technical and non-technical controls, such as:
An incident response plan is a set of procedures and guidelines that your business can use to respond to a cyber-attack or other security incident. This should include clear roles and responsibilities and should be tested and updated on a regular basis. A comprehensive incident response plan should include:
One of the most effective ways to protect your business from cyber threats is to educate and empower your employees. This includes training them on how to recognize and respond to phishing and social engineering attacks, as well as best practices for securely handling sensitive data.
It's important to make sure that all employees are aware of the risks and responsibilities associated with their job, and that they are provided with the tools and resources they need to do their job securely.
Microminder Cyber Security Team Stats
Total customers globally
Web & Mobile Apps tested
Users secured globally
Of our recent pen tests identified vulnerabilities
Of them contained critical and high risks.
Were access and authentication related issues.
Business risks were remediated last year.
Identifying and assessing potential threats and vulnerabilities, allowing for proactive measures to be taken to protect against them.
Minimizing the impact of cyber-attacks on the business by reducing the likelihood of a successful attack and having a plan in place for responding to incidents.
Protecting sensitive data and intellectual property, which can be crucial for the business's operations and reputation.
Complying with relevant laws and regulations, which can help to avoid legal and financial penalties.
Businesses of all sizes and industries, as all organisations are at risk of cyber-attacks.
Organisations that have a strong online presence, such as e-commerce sites and online services.
Developed by the National Institute of Standards and Technology (NIST), the CSF is a widely-used framework for managing cybersecurity risk. It provides a common language and a structured approach for identifying and managing cyber risks and is designed to be flexible and adaptable to the unique needs of different organisations.
This is an international standard for information security management, which provides a comprehensive framework for managing cyber risks. It includes a set of best practices and guidelines for implementing an information security management system (ISMS).
This is a framework developed by ISACA, an association of information security professionals, to help organisations manage IT governance and IT management. COBIT 5 provides a comprehensive approach to IT governance and management, including the management of cybersecurity risks.
The SOC 2 framework is developed by the American Institute of Certified Public Accountants (AICPA) for service organisations, it focuses on controls related to security, availability, processing integrity, confidentiality and privacy.
The Payment Card Industry Data Security Standards (PCI DSS) is a set of security standards created by the major credit card companies to protect against credit card fraud. It provides a framework for organisations that handle credit card information to secure their systems and protect sensitive data.
Modern cyber security threats faced by organisations today
This type of malware encrypts a victim's files and demands payment in exchange for the decryption key. Ransomware attacks have become increasingly sophisticated and targeted and can cause significant disruption to an organization's operations.
What are some of the cyber threat vectors?
Cyber threat vectors refer to the methods or pathways through which cyber threats can enter and compromise an organization's systems and networks. Some common cyber threat vectors include:
Phishing is the practice of using deception to trick individuals into revealing sensitive information or downloading malware. This can include email phishing, where attackers send emails that appear to be from a legitimate source, or spear phishing, where attackers target specific individuals or organisations.
Malware is a type of malicious software that is designed to cause harm to a computer system. This can include viruses, worms, and Trojan horses, which can be delivered through infected email attachments or malicious websites.
Remote access threats include unauthorized access to an organization's systems and networks from remote locations. This can include attacks that exploit vulnerabilities in remote access software or attacks that leverage stolen credentials.
Network-based attacks include those that target an organization's networks and systems, such as Distributed Denial of Service (DDoS) attacks and man-in-the-middle (MitM) attacks.
The Internet of Things (IoT) devices are becoming an increasingly popular attack vector. IoT devices are often poorly secured and can be easily compromised, and once an attacker has access to one device, they may be able to move laterally to other devices on the network.
Identifying Risks: The first step in our cyber risk management is to identify what risks your organization is exposed to. This will include risks from external sources such as malicious actors and hackers, as well as internal risks such as employee negligence.
Cyber risk management helps protect an organisation’s customer data and build customer trust by reducing the likelihood of a data breach.
Cyber risk management helps reduce the cost of responding to a data breach by providing the best security practices and technologies.
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We had the pleasure of working with Microminder Cybersecurity...and I have to say, their work was nothing short of splendid...
Viktor DimitrovProduct Owner - moby2.com
Microminder's in depth and broad scope pen testing truly provided us with some valuable insights...
Claire LeePractice Manager - Amsel and Wilkins LLP
Microminder's 24/7 managed security services got deployed with such ease and immediately gave us an eagle eye view into our security logs and events...
Julie CockbillHead of Operations - InfinityBlu Dental
Microminder helped us with a tailored managed security services that aligned with our business needs...
Tina PatelHead of Integrations – Dental Beauty Partners
We have chosen Microminder's CISO as a Service model and are very happy with it...I can only recommend Microminder's service.
Philipp MussbacherSecurity Engineer & solutions consultant – Anonymous
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