Cyber crime: Can a standard risk analysis help in the challenges facing business continuity managers?

Author(s): 
Danny Vande Putte, Civil engineer and Marc Verhelst, Commercial engineer, National Bank of Belgium

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Abstract: Risk management has never been easy. Finding efficient mitigating measures is not always straightforward. Finding measures for cyber crime, however, is a really huge challenge because cyber threats are changing all the time. As the sophistication of these threats is growing, their impact increases. Moreover, society and its economy have become increasingly dependent on information and communication technologies. Standard risk analysis methodologies will help to score the cyber risk and to place it in the risk tolerance matrix. This will allow business continuity managers to figure out if there is still a gap with the maximum tolerable outage for time-critical business processes and if extra business continuity measures are necessary to fill the gap.

 

Keywords: cyber risk, cyber threat, cyber crime, risk analysis, risk taxonomy, business continuity management

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