How Cyber Security Can Protect Your Business - A guide for all stakeholders

CHAPTER 3: CYBER SECURITY RISK MANAGEMENT

Disturb us, Lord …

Because we have dreamed too little,

When we arrived safely

Because we sailed too close to the shore.

Prayer often attributed to Sir Francis Drake

Introduction and overview

We all take risks every day. Life is a risky business. But without risk there is no progress. The same applies to organisations in the cyber world: there are risks of hacking, fraud, state interference and identity theft. But these have to be matched against risks of not doing business via cyber (e.g. failure to win new customers or reduce costs). The risks are great but so are the potential rewards: competitive advantage, reduction in costs, increased awareness of your products and services via social media, to name ...