What Is Risk Control: Types, Example & Identification
TL;DR Risk control is a set of measures for mitigating risks in any business. It forms a part of the risk management process. Measures for risk control function include elimination, substitution, isolation, using engineering and admin controls, and enforcing PPE. The risk and control matrix (RACM) provides a unified view of your business’s risks, categorized…
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Jan 16, 2025
7 Major Risks Of Open-Source Software & Mitigation Strategies
Open source software (OSS) has gained popularity due to its accessibility, rich functionality, cost-effectiveness, and flexibility. These advantages make OSS an attractive choice for many, but it is also considered an inherently riskier option. For example, Gilad David Maayan, Security Today, notes: “Open-source is a bit more chaotic, with contributors adding new features and improving…
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Jan 16, 2025
Cyber Security Risk Assessments: How to Protect Your Business
Digital assets and data are the lifeblood of every organization today. But as with everything precious, they’re constantly at risk of being unlawfully accessed, tampered with, stolen, or transmitted. Such malicious actions can not only cause irreparable harm and damage to the organization but can severely hamper future business prospects. Cyber risk assessments are periodical…
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Jan 16, 2025
What Is Vendor Risk Management (VRM)?
When a company works with a third party, vendors often gain access to sensitive data that is processed on behalf of the company. This compounds the risk of exposure and therefore becomes an extension of their compliance needs. Because of this, businesses consider vendor risk management as a crucial point of contention when developing a…
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Jan 11, 2025
A Starter’s Guide To Strategic Risk Management
James Lam Associates, a consulting firm for risk management that works closely with CISOs, CROs, CFOs, and CEOs, conducted a study on the principal reason organizations suffer financial distress. The research found that 61% of incidents were due to strategic risks, 30% to operational risks, and 9% to financial risks. In spite of such high…
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Jan 09, 2025
How to Build an Effective Data Protection Strategy
Businesses today have their data distributed across the cloud, partner networks, data centers, and on-premise locations. This could include data of varying levels of sensitivity such as customer data, financial records, and other business essential information. Protecting such information requires a great deal of resources. Every company aims to minimize the heightened risks of potential…
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Jan 03, 2025
