Remediation and mitigation are words commonly used interchangeably to describe a wide variety of risk management measures within an organization or project. They are, however, distinct concepts under enterprise risk management (ERM) principles, with particular relevance for safeguarding the organization and its stakeholders. Remediation activities focus on fixing a problem to avoid or prevent the arrival of a risk.

The possibility of a data breach at your organization can be anxiety-inducing. According to the Ponemon Institute, the average cost of a data breach is $3.61 million, and it’s on the rise; the average data breach cost is up 10% over last year and remote work is a contributing factor: Ponemon found that breaches caused by remote work were $1.07 million more expensive than those that weren’t. This may have your organization wondering if you’re protecting your data in every way you can.

Every organization needs strong internal controls to ensure the integrity of financial statements and to promote ethical values and transparency across the enterprise. Internal controls are the mechanism to do those things; controls help to identify risks and then reduce them to an acceptable level.

Cyberattacks can take many forms. Those intended to disrupt a business often happen as denial of service (DoS) attacks, and its even more disruptive cousin, the distributed denial of service (DDoS) attack. Such attacks are often executed by a botnet, which is a network of infected machines or connected devices at the order of a botmaster. Botnet attacks present yet another challenge for security and IT teams focused on cybersecurity.

The rapid pace of technological progress has let companies around the world benefit from operational improvements that lower costs. This progress, however, also brings risks that companies must take into account to protect their stakeholders. Cyber-threats are executed by cybercriminals using various means to gain access to an organization’s digital infrastructure.

Strong, reliable internal controls are an indispensable element of risk management. Properly functioning controls help to identify risks that could cause suffering, damage, harm, or other losses to your organization. To implement those controls, organizations typically use a control framework to guide their efforts.

While business partnerships require trust, security requires verification. In a world where business relies on data security, vendor risk management is mission-critical to financial success. Organizations rely on vendor security assessment questionnaires as part of their due diligence processes. However, manual questionnaire processes are burdensome and time-consuming, so many organizations are turning to automation to reduce operational costs.

No matter how careful you are with your data storage and data protection measures, the risk of data loss is always there. You need to be sure that your company is prepared in the event of cyber attacks or system failures. Hence the need for data backup is so important; a company must have a copy of lost data for swift disaster recovery after a crisis. Too many organizations, however, overlook the possibility that their data backups might also fail.

In a blog post published in February 2021, Microsoft noted that web shell attacks had been steadily increasing since mid-2020. There were 140,000 monthly web shell attacks from August 2020 to January 2021, more than twice the average from 2020. The increasing prevalence of these attacks has a simple reason: web shell attacks are easy to author and launch. So, what are web shell attacks? Why should organizations be more aware of them?

Every business has a set of rules and regulations that it must uphold. To maintain compliance, businesses must adhere to the regulations and laws specific to their industry. The problem is, these regulations are constantly changing, and failure to stay up-to-date can lead to serious financial strains and damage to company reputation. Let’s explore how effective compliance management can ensure the continuity and security of your organization.