What is an information security risk? Also, how can you avoid this?
Read on to learn more.
What Is an Information Security Risk?
An information security risk can result in damage to the IT systems. So, it is something that we should avoid. So, we can secure our information.
Otherwise, we can face loss. In companies, there are two types of loss from information security risks.
These are the following:
- Monetary terms – loss of financial of a company
- Non-monetary terms – damage of reputation of a company
So, we really should avoid risks at all costs.
But, how is a risk different from a threat?
People often use these two interchangeably. But, they are different. How so?
A risk is something that is a possibility. So, it may or may not happen. But, a threat is an actual danger.
For example, there are a lot of risks when we cross the street. One risk is getting hit by a car.
But, we can do something to prevent this risk. How? If we look both ways first before crossing.
Meanwhile, if the car is already in front of us, that is already a threat. Why?
Because we are already in real danger. And it’s out of our control.
Thankfully, we can also prevent an information security risk. How?
Let’s find out!
What Is an Information Security Risk Management?
Like the risk of getting hit by a car, we can avoid an information security risk,
But how?
For one thing, we should keep in mind that there is always a risk. But, it shouldn’t end there.
One action is to make an information security risk management plan. So, how does this plan work?
An ISRM plan helps control risks for companies and individuals. So, it lessens the impact if an incident happens.
But, companies need an ISRM the most. Well, why is that so?
Because if they don’t protect the information, they will experience great damage. As mentioned, they can lose money or their reputation.
Besides, no one wants to have their information stolen. Like our addresses, bank accounts, and other private info.
Companies should also have a strong information security system. So, they won’t leak their clients’ information.
This also gives security to their customers. So, they won’t have doubts. Plus, they can be relieved that their private information is safe.
An ISRM plan also helps them continue their business. Especially if they experience a data breach.
So, ISRM is really important. Then, what includes an ISRM plan?
What Are the Parts of Information Security Risk Management?
An ISRM plan includes the following parts:
- threat actor: what causes threats
- vulnerability: what the threats are
- outcome: results of vulnerabilities
- impact: bad effect of vulnerabilities to the company
- assets: results of the impact of incidents
How Can You Build an ISRM Plan?
Now that we know the parts, how can you make one?
Here are the six steps to make your own InfoSec Risk Management Plan:
- Identify your assets and possible risks.
- Protect these assets.
- Apply controls like passwords.
- Control security and evaluate them.
- Assign controls to the right people.
- Monitor your security system regularly.
