KYND Cyber Risk Assessment by CRIF: Protect Your Business from Cyber Threats
A crucial part of any diligent company’s risk management strategy inevitably involves cyber crime assessment. Most organizations today rely on technology and information systems to conduct their business but not without accepting their share of inherent risks. This is why there is also a counteractive system in place known as cyber crime assessment. Let us know what a cyber risk assessment is.
Understanding Cybersecurity Risk Assessments
Risk assessments are not new to businesses and are conducted in one form or another since the beginning of the trade – the method just keeps getting sophisticated as we progress. According to the National Institute of Standards and Technology (NIST), Risk assessments are used to identify, estimate, and prioritize risk to organizational operations (i.e., mission, functions, image, and reputation), organizational assets, individuals, other organizations, and the Nation, resulting from the operation and use of information systems. The primary purpose of a cyber risk assessment is to support well-informed decision-making and develop risk management strategies and risk mitigation responses.
Why Perform a Cyber Risk Assessment?
Provides security & prevents unnecessary losses-
When you identify potential risks and work towards mitigating them, what you are essentially doing is avoiding an occurrence of a financial loss and also image loss. A well-done cyber risk analysis can improve your security implementations and mitigate attacks and personal data breaches.
Provides a roadmap for future assessments-
Cyber risk assessment is a continuous process and has to be updated timely. Doing it once can help you identify a template for future assessments.
Heightened organizational self-awareness-
Understanding your organisation’s weakness gives you a clearer direction to work towards improvement, growth, and investment areas, ensuring your cybersecurity posture remains robust.
Improves communication-
Typically a cyber risk assessment involves gathering inputs from a number of different departments and stakeholders. This, in turn, helps increase organisational visibility, enhances communication, and strengthens your overall cybersecurity measures.
Skyminder-CRIF’s Cyber Risk Assessment Solution
Skyminder by CRIF is a solution that provides a cyber risk assessment report, called KYND, and empowers business managers, owners, and professionals to easily assess cyber risk related to business. It highlights the vulnerability and acts as a security buffer between business deals. The KYND cyber risk report is applicable to any and all businesses belonging to any industry. The report is an easy, clear, and concise read and does not require an IT expert to understand. No lengthy questionnaires no conversations with CCEs – KYND is a hassle-free time-efficient reporting system. Here’s a quick summary of KYND
- Applicable to all kinds of business
- Easy to read and understand
- A time-efficient process with faster outcomes
- Smarter results with traffic light system to quickly identify the level of risk
As companies enter a more digitally connected future, the risk of cyber-attacks increases even more. It is high time businesses set in place practices that help risk-proof their business from the most apparent threats. If you want to protect your business from the ever-increasing cyber attacks, contact CRIF credit bureau in India today to get a review of Skyminder for your business. CRIF is one of the RBI-authorised credit information companies. We provide comprehensive cybersecurity risk assessment and credit risk assessment solutions to banks, financial institutions, and all other businesses, ensuring a robust cybersecurity framework.
