Information Security Risks: Full Definition

What are information security risks? Also, what can you do to avoid this?

Today, we face cybersecurity problems. In fact, cybercrime is a global problem now.

It even increased even during the COVID-19 pandemic. Reports even said that cybercrimes rise up to 600% in 2020 alone.

So, this should be a wake-up call for us. How can we avoid information security risks?

Let’s find out.

What Is an Information Security Risk?

An information security risk can result in serious damage to IT systems. So, we should avoid posing this risk in the first place. Then, we can protect our information.

But, what happens if we don’t? Well, we can face loss. In companies, they can face two types of loss, namely:

1. Monetary terms – loss of financial of a company
2. Non-monetary terms – damage of reputation of a company

But you may wonder. How is a risk different from a threat?

People often use it synonymously. But, these two are different.

A risk is something that can possibly happen. So, it may not happen, too. But, there is actual danger in a threat.

For example, there are many risks when we cross the street. For one, we can get hit by a car.

But, we can do something to prevent this from happening. How? If we carefully cross by looking both ways.

On the other hand, if the car is already in front of us, that is already a threat. How?

We are already in danger, and it’s almost out of our control.

Granted, we can prevent an information security risk, too. How?

Let’s find out.

What Is an Information Security Risk Management?

One way that can help us is to know that there is always a risk. And with that, we can think of ways to avoid it.

In InfoSec, it involves making an information security risk management plan. So, how does this work?

An ISRM plan helps control risks for companies. So, it can lessen the damage of an incident.

But, why do companies need this?

Without this, they will experience great damage. If they don’t protect the information, they can lose money or their reputation.

Besides, we all want to protect our private information. We also don’t want hackers to get hold of this. Like our addresses, bank accounts, and other private info.

So, companies should have an information security system. Then, they won’t compromise leak their clients’ information.

It also makes customers feel secured. They will feel relieved that their private information is safe.

When cybersecurity incidents happen, an ISRM plan helps them recover. So, they can continue their business.

So, ISRM is really important. Then, how can companies make one?

How Can You Build an ISRM Plan?

An ISRM plan includes:

• threat actor: what causes threats
• vulnerability: what the threats are
• outcome: results of vulnerabilities
• impact: bad effect of vulnerabilities to the company
• assets: results of the impact of incidents

Now, how can you make one? Here are the six steps:

1. Identify your assets and possible risks.
2. Protect these assets.
3. Apply controls like passwords.
4. Control security and evaluate them.
5. Assign controls to the right people.
6. Monitor your security system regularly.