Page 61 - EBOOK RISK MANAGEMENT

 Using a “trust mark” security service to scans the systems daily to search

for malware and vulnerabilities

6.7 Cyber Security Risk

Cyber Security is referring to any the measures taken to keep electronic information
private and safe from damage or theft. It is also used to make sure these devices

and data are not misused. Cybersecurity applies to both software and hardware,

as well as information on the Internet, and can be used to protect everything from
personal information to complex government systems.

Potential Loss

 Loss of income

 Inability in obtaining payment for goods and services
 Business Failure

Risk Management Technique

 Ensure that your senior management is involved.

 Identify your material data.
 Limit the number of people who have privileged access to sensitive data

 Implement the right technology.

6.8 Fidelity Risk

Potential Loss

 Loss of property
 Loss of trading

 Loss of earnings or capital

 Loss from loans
 Forgery

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