Best Practices for Managing Risks, Improving Threat Response and Promoting Cyber Hygiene
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Best Practices for Managing Risks, Improving Threat Response and Promoting Cyber Hygiene
If it wasn’t apparent already, no organization (no matter how large and well-resourced) is immune to the ever-evolving schemes of cyber criminals who continue to augment their efforts with the latest technologies, including AI and machine learning–based tools. As businesses rapidly digitize, their digital footprint expands along with the inevitable expansion of attack surfaces due to the rising number of digital assets and entry points. This makes it paramount that they implement the best cybersecurity practices to bolster their defenses. In particular, companies must enhance risk management, improve incidence response processes and promote “cyber hygiene” at every level of the organization.
Enhancing Risk Management
When building a risk-first security strategy, organizations should start by identifying and classifying their most critical assets such as systems, data, processes and personnel before assessing the risks and vulnerabilities associated with them. Businesses, having identified external and internal risks, can then implement corresponding strategies to mitigate those risks before exploitation.
Traditionally, companies would employ governance, risk and compliance (GRC), enterprise risk management (ERM) and integrated risk management (IRM) to address various risks and challenges. However, these do not take into consideration the growing presence of digital risk management tools that can streamline workflow development, auditing, cybersecurity management, etc. Enterprises should pivot away from traditional toward digital by leveraging a Digital Risk Management (DRM) strategy and program. A DRM will help expand upon existing practices in GRC, ERM and IRM to keep pace with the evolving risk landscape.
Vulnerability management is an integral part of an organization’s overall risk management strategy because it helps address gaps before they can be exploited. An Application Programming Interface (API) security assessment plays a key role within this, as web APIs have emerged as one of the leading vectors for cyberattacks. This type of assessment helps secure API definitions to reduce the attack surface and eliminate gaps in defenses at the engineering level.
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