Why Your Business Needs A Security Threat & Risk Assessment!

What is a security risk assessment?

A security risk assessment is the process of identifying potential threats to a network, assessing the level of risk associated with these threats, and implementing key control measures to mitigate the impact of any data breaches.

In simple terms, it secures a company’s networks against the risk of cyber threats by providing IT security managers with a complete view of the application’s infrastructure from a hacker’s perspective. From here, they can better identify critical breach points, and properly secure all the assets that are at risk.

What steps are involved in the process?

Primarily, there are 4 steps to conducting a detailed security threat and risk assessment. These are:

Identification of vulnerabilities

The first step in any network security test is to identify potential vulnerabilities that could be exploited by a hacker to gain control of the network or application.

This is done under controlled conditions to ensure that the data doesn’t get corrupted.

Assessment of risk

Next, all critical assets on the network are analyzed, and security profiles are developed for each.

These profiles should include the level of risk for each asset, and the damage that would be done to the organization if it was compromised during an attack.

Mitigation

Once the level of risk for each asset has been established, it’s time to go to work on implementing mitigation methods.

Ideally, you’ll want to prepare for the worst-case scenario of a total breach of security. Backup plans must be made, and sensitive data should never be kept together in one place.

The implemented control methods should also be strong enough to force out the attacker before any part of the network is completely breached.

Prevention

Finally, prevention methods should be put in-place which minimize the risk of vulnerabilities being exploited in the first place.

These methods typically include common tools like firewalls and antivirus software, and they serve as a security barrier that only allows recognized packets of data to pass through.

Why does your organization need an assessment?

The shift from hard-storage to the cloud has put every organization in the modern world at risk of a cyber-attack.

This is especially true for Small and Medium Sized Enterprises (SMEs), which are specifically targeted during attacks because hackers understand that these businesses can’t afford to spend big on professional cloud security services.

At most, a small business will have an in-house team of 2-3 IT professionals who’re managing the network safety in addition to all their other daily tasks.

A security risk assessment helps these businesses protect themselves against data loss and identity thefts, which, in most cases, can prove to be extremely costly.

According to a recent report, almost 30% of SMEs that were the victims of a hacker had to shut down their business almost immediately after an attack, and a further 40% ended up closing within a year.

Get an assessment today, and save yourself and your company from the damaging effects of a cyber-breach.

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