VIENNA, VA, September 24, 2019 – No matter how hardened a company’s cyber defenses are, significant risk remains when suppliers and third-party trading partners are attacked and compromised. Today, NormShield, the only provider of a standards-based external cyber risk assessment platform, unveiled the first-ever automated tool to combine and assess both cyber and financial risk.
Calculating the dollar value of the probable loss caused by an attack on a supplier or partner enables Chief Information Security Officers (CISOs), Chief Risk Officers (CROs) and Chief Financial Officers (CFO) to measure and mitigate cyber risk to business performance.
To measure the potential financial impact (risk) to an organization, NormShield uses the Factor Analysis of Information Risk (FAIR) Model, the only international standard Value at Risk (VaR) model for cybersecurity and operational risk.
“Incorporating the FAIR Model into cyber risk assessments enables organizations to effectively quantify the true financial cyber risk to their bottom lines,” said Mohamoud Jibrell, CEO of NormShield. “Companies now can have a three-dimensional view of the technical, compliance and financial…
