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Assess your cyber risk

November 23, 2023

Taking your business online comes with many rewards, such as greater reach, rising profits and efficiency gains. But it also comes with risks.

Here are five steps to performing a cyber security risk assessment so you can ensure your business is prepared to get online.

  • List your important systems and whether they're inside or outside your organisation. Note the kind of data they hold.
  • Identify threats. Consider how valuable your data is and how easily your systems could be attacked, especially if they're online.
  • Evaluate the risks. Think about what could go wrong with your data or systems – like if they're no longer private, correct, or available.
  • Understand the impact. Figure out how each risk might affect your business, such as operationally, reputationally, financially or technically. Rate them as low, medium or high impact.
  • Take action. Implement measures to reduce, transfer or accept risks. Share your plan with your team, and create a response plan for incidents. Regularly review your risk assessment as things change.

Source: Digital Boost. For more information, including a short video on this topic, see www.digitalboost.business.govt.nz

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