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In 2004, the federal government first designated October as Cybersecurity Awareness Month. Even after two decades, the need for both private and public organizations to be vigilant against cybercrime is greater than ever. Cybersecurity threats have continued to explode in number and in destructiveness.
According to the Identity Theft Research Center, there was a 72% increase in data breaches in 2023 over 2021, which was a global record year for these crimes.
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Statistics like these provide sobering evidence of how critical it is for businesses and government entities to understand common threats and vulnerabilities and thus protect:
- Client data
- Employee credentials
- Proprietary assets
- Sensitive information
To meet ever-increasing cyber threats, risk professionals in the public and private sectors are learning about and practicing cyber risk management. Cyber risk management, also called cybersecurity risk management, refers to the process of identifying, assessing, and mitigating risks to an organization’s IT infrastructure. Cyber risk management should be…
