Sample Solution

1. Data Loss/Theft: Unauthorized access to, modification or destruction of IT assets such as computers or data systems, which may include sensitive customer information.

2. Security Breach: An attack on an organization’s network or computer systems that results in unauthorized access to protected information, disruption and/or malicious activity by an outside party.

3. System Failure: A malfunction of hardware and software resulting in the inability of an IT system to operate properly, leading to a loss of functionality and data availability.

4. Human Error: Accidental release of confidential information due to user negligence, lack of training or inadequate security practices employed by users within the system environment they work within.

5. Malware Attack: The use of malicious software (malware) with the intent to disrupt a company’s operations, steal confidential data or gain control over corporate networks and systems for malicious purposes such as financial fraud or identity theft prevention related activities etc..

6. Weak Password Policies & Procedures: Lack of proper password protocols increased risk from Brute Force attacks from external parties exposing organizations private networks & infrastructure thereby compromising the integrity & security controls implemented .

7 .Vendor Management Risks : Poorly managed vendor relationships carries risk associated with inadequate third-party oversight including but not limited ,poor contract management ,inadequate service level agreements etc., also increasing exposure for cloud services vendors providing support for critical business functions .

8 .Insider Threats : External threats are not only risks presented but internal one’s too such as disgruntled employees misusing their access privileges resulting in intentional privilege escalation & violations can put organizational data at high risk if appropriate policies are not enforced internally amongst team members following strong operational procedures

9 .Cyber Attacks & Data Breaches : Cyber criminals have shifted focus towards small businesses leaving them susceptible to ransomware attacks aimed at phishing unsuspecting victims through emails containing suspicious links thus stealing personal identifiable information used for financial gains .

10 .Social Engineering Attacks : Malicious actors leveraging techniques via social media platforms targeting vulnerable customers through fraudulent content testing customer behavior by creating illegitimate requests i e clicking on suspicious links downloading malware disguised as legitimate applications risking user accounts being compromised remotely whilst gaining unauthorised access into secure databases allowing them exfiltrate valuable consumer credentials affecting bottom lines significantly

11 Regulatory Non Compliances : Not staying up–to–date with legal regulations pertaining cyber security standards can result in penalties imposed by authorities incurring huge losses both financially & reputationally organisations must ensure swift compliance enforcing necessary policy adjustments establishing technical safeguards against potential exploits while investing time money into ongoing awareness campaigns educating staff about latest threats posed externally /internally building robust defenses protecting corporate assets critically impacting business continuity efforts proactively mitigating risks beforehand ensuring uptime is maintained consistently

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