Navigating the digital landscape can be daunting for businesses, especially with the ever-present threat of cyber-attacks. However, as we operate in an increasingly digital-only business landscape, we need to ensure that the assets we own online are protected. An essential step in ensuring this security is carrying out a digital risk assessment.
In this guide, we'll delve into network security events, learn how to spot potential issues, and understand how to mitigate them. If you're curious about why cyber security is crucial for your business, our previous article Why You Need To Take Cyber Security Seriously is a great place to start.
Think of a Digital Risk Assessment (DRA) as a comprehensive health check-up for your digital business landscape. It helps you identify and assess potential threats ranging from data breaches, system malfunctions to cyber-attacks.
A common example of a digital risk is a cyber security event like a phishing attack, where cybercriminals often pose as a reputable organisation, typically via email. This can lure the recipient into clicking a link or downloading a file, which can result in harmful software invading your systems or vital data being stolen.
Almost every business operation has some level of online exposure, from storing customer data (like names, emails and phone numbers) to processing transactions (credit card information). Our increased dependence on digital tools means that we're more vulnerable to digital risks. Ignoring these risks could lead to significant financial losses, reputation damage, or legal issues.
Network security is a set of measures taken to protect a computer network from different types of cyber security events, such as firewalls, anti-virus software, intrusion detection and prevention systems, and virtual private networks (VPNs).
A network security event is an incident that has the potential to threaten the integrity or security of your network specifically. It could range from minor occurrences like an employee forgetting their password to major ones such as a data breach or a Denial of Service (DoS) attack, which is an attack that could potentially shut down your entire operation system. Even though not all network security events escalate into significant security incidents, each one represents a potential threat that warrants monitoring.
Being alert and knowledgeable is your best defence in the cyber security world. Understanding common security threats is a critical part of effective digital risk management. Let's explore some key threats:
Recognising network security events and implementing digital risk assessments significantly bolsters your business's cyber security. Early detection and mitigation of network security issues can help prevent potential harm and safeguard your valuable digital assets. It's crucial to remember that effective digital risk management is a continuous process, not a one-time task.
Browse through our other blog posts on the V-Hub platform for more insights on network security. If you need advice on enhancing your digital risk management strategy, get 1-2-1 support by speaking to one of our V-Hub Digital Advisers.
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