Cyber Security

Cyber Risk Score – What You Need to Know

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1 August 2023

Yesterday’s security measures can’t be compared to today’s risks.
Put simply, given the ongoing battle with ever more sophisticated cyber threats, it’s become essential for businesses to keep implementing new and advanced defences in order to avoid cyber attacks.
Going forward, new cyber security threats will also need actionable intelligence combined with detailed risk assessments to prevent them from damaging your IT infrastructure.
Our Cyber Risk Score analysis can help you uncover weaknesses in your business and lays the groundwork for simple to understand and implement fixes to keep your business safe.
At Redpalm, our IT security consultants have put together this guide on how a risk score can benefit your business but before that…

What is Cyber Risk?

Your cyber risk relates to any financial, security, reputational, regulatory or operational threat that occurs as a result of a company being linked to the internet.
In addition, cyber risk is also considered as one of the, if not the only, most crucial threats faced by any business.
If you want to find out more about cyber risk and how you can reduce your potential threat, click here!

What is a Cyber Risk Score?

Think of your Cyber Risk Score as a scorecard that displays your business’ digital safety performance and other risks it may be vulnerable to.
Using the tools we have available, running a test is simple, allowing us to analyse your cyber risk with only your web domain and few additional details.

What Are the 6 Aspects of Your Cyber Risk Score

With so many different types of cyber threats, it’s important to present a well-rounded, detailed and action-oriented security response. Here’s some of the key cyber threats your risk score will analyse and report on.

1.  Ransomware Threats

Ransomware threats are an attempt by a hacker to gain access to your systems and quite literally hold your processes and data to ransom, until they are paid.
To avoid putting your business in this situation, it’s crucial that you have security measures such as:

  • Multi factor authentication
  • Email attachment filtering
  • Malicious website blocking and protection
  • Active content inspection
  • And, for the worst cases, a disaster recovery plan, in place.

For professional assistance with creating and testing your business continuity plan, get in touch with our managed services provider (MSP) today.

2.  Email Security Threats

Also known as Business Email Compromise, CEO fraud or Spoofing, email impersonation fraud is an incredibly common security threat.
By not having rigid email protection in place, you run the risk of suffering a data breach of your customers data or having financial information lost.
However, there are numerous standard security measures available that your organisation should implement to lower the chance of an email breach.

3.  Security Certificate Threats

Your website’s security certificate is used to build secure connections for your services through the internet.
A valid certificate secures your data preventing it from being changed or intercepted.
By increasing the security of your connection, you help minimise your risk of a cyber attack.

4.  Misconfigured Service Threats

Whilst it’s essential to your operation that some information is publicly visible, this isn’t typically the case with regards to your databases, administrator control panels or developer access, which should be restricted to minimise the opportunity of being hacked.
Misconfiguration of these services can leave access open to the whole web, potentially putting you at risk.

5.  Out of Date Services

Vulnerabilities in outdated software is used by would-be cyber criminals to gain access to your data. These vulnerabilities are typically highly-visible, meaning your organisation is an easy target.
Ensuring your services and software are kept updated is crucial to maintaining a secure IT environment.

6.  Domain Protection

If you have a functioning website, you’ll have a domain – this is your website’s online address, for example www.mywebsite.com. Failing to secure your domain could critically affect your ability to do business, particularly if you are reliant on your website.
You’ll want to make sure your domain is secure, and that any information surrounding it is secure too, for example ensuring company web domains are not registered with individuals.
For more assistance regarding domain registration security, give our IT support team a call today!

How Does Cyber Risk Score Benefit Your Business?

A Cyber Risk Score provides you with all the essential information that’s required to secure your organisation from possible cyber threats in a way that’s easy to understand and actionable.
Completely non-intrusive, easy to deploy and industry recognised, our Cyber Risk Score offers you the following benefits:

Comparative Risk Profile

When determining your score, we not only discover possible vulnerabilities but also conduct a consistent risk analysis of your business versus your competitors.
This comparison further measures your company in its performance of crucial operational processes that affect external cyber risks. Our report also shows how your business ranks against its competitors for each of its threat areas.

Round-the-Clock Monitoring & Alerts

By choosing our cyber risk technology, we ensure that your company is constantly monitored and analysed for possible threats.
Through our reporting portal you’ll also receive alerts when a new potential vulnerability arises. We offer simple and clear instructions on how you could mitigate those threats, or manage the process for you.

Contact Redpalm for Professional Cyber Risk Management

It’s essential to ensure that you conduct regular risk assessments and have robust measures in place to secure your devices and business.
Partner with Redpalm to take advantage of our Cyber Risk Score technology that offers a comprehensive overview of cyber threats your organisation is likely to face along with measures to fix them.
To receive professional cyber risk management for your business, book your free IT review today!

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