Prudential Standard CPS 234 Information Security (CPS 234) is an APRA prudential standard. Australian Prudential Regulation Authority’s (APRA) mission is to establish and enforce prudential standards designed to ensure that, under all reasonable circumstances, financial promises made by its regulated entities are met within a stable, efficient, and competitive financial services sector.

Inherent risks include all risks that are present without any security controls. Residual risks are the risks that remain after security controls are implemented. Residual risks are inevitable. Even with an abundance of security controls, vestiges of residual risks will remain that could expose your sensitive data to cyber attacks.This is because the proliferation of digital transformation expands the digital landscape, creating more attack vectors.

Chances are, if you’re shopping for a virtual private server, you already understand why they’re useful for web developers, app designers and everyone in between. You also probably know that the surge in popularity of hourly pricing means you can try most of the big players in this space for yourself for the cost of one Bazooka Joe comic (not even the gum, just the comic).

Residual risk is the threat or vulnerability that remains after all risk treatment and remediation efforts have been implemented. Even with an astute vulnerability sanitation program, there will always be vestiges of risks that remain, these are residual risks. Because they will always be present, the process of managing residual risk involves setting an acceptable threshold and then implementing programs and solutions to mitigate all risks below that threshold.

Digital transformation is creating unpredictable mutations across the attack surface. As a result, some third-party risks have outgrown the discovery mechanisms offered by the hundreds of standard security frameworks currently available. To cater to these growing use cases, UpGuard has introduced custom questionnaires to its industry-leading third-party risk management platform. Custom questionnaires are vendor security questionnaires that you can design yourself.

A Distributed Denial of Service (DDoS) attack, is an illegal attempt to make a website unavailable by overloading its server with high amounts of fake traffic. The onslaught of malicious connection requests places legitimate visitors at the back of an undiminishing traffic queue which prevents the website from loading.

Threat modelling is a process for identifying potential threats to an organization's network security and all the vulnerabilities that could be exploited by those threats. Most security protocols are reactive - threats are isolated and patched after they've been injected into a system. Threat modelling, on the other hand, is a proactive approach to cybersecurity, whereby potential threats are identified and anticipated.

FIPS 140-3 is the long-awaited update to FIPS 104-2 which was established on May 25, 2001. This updated validation process is finally capable of addressing the cryptographic modules that have evolved since 2001. This validation process includes testing with respect to certain standards or protocols and then the issuing of an official certificate from NIST (National Institute of Standards and Technology) confirming compliance with FIPS 140-3.

Inherent risks are the cyber risks and vulnerabilities within an organization before security measures are implemented. In contrast, residual risk is calculated after cybersecurity protections have been put in place to protect against all of these inherent risks; its calculation includes every possible attack vector that could affect a system or data.

The Solarwinds supply chain attack has made the danger of third-party breaches very clear. Businesses globally are realizing that their vendors may not be as secure as they originally thought. The concerning truth about vendor relationships is that you can never be confident of a prospective vendor's cybersecurity. In fact, onboarding new third-party vendors increase your digital risk and the likelihood of becoming victim to a third-party breach.