Conducting a cyber threat assessment

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 Assessing cyber exposure involves evaluating the potential risks and vulnerabilities that an individual or organization faces in the digital realm. Here are some steps to assess cyber exposure: 

• Credit Cards,Debit Cards, Bank Account Numbers
• Personal Health Information
• Employee Information 
• Confidential Corporate Information
• Driver Licenses & Social Security Numbers
•  Username or email addresses with passwords. 

All of these are the target of cyber criminals.  Any organization possesing or using this type of data must evaluate the protections in place around this type of data.

The following types of agreements should be reviewed to assess exposure the organization may be contractually exposed to:

• Clients and or Consumers
• Credit Card Processors
• IT Service & Cloud Providers
• Independent Contractors
• Privacy policies

Organizations should require third parties that have access to their data or customer's data to have Cyber Risk Insurance and request that the orgainzation be named as an additional insured.

Remember:  Your organization could be held liable for a breach of one of your vendors or third party associates.

Identify the weaknesses or vulnerabilities within your digital infrastructure that could be exploited by threats: 

•  Outdated software
• Misconfigured systems
• Weak access controls, or lack of security patches. 

Enlist an IT security firm to conduct vulnerability assessments or penetration testing to uncover potential weaknesses. 

Evaluate the potential impact of a cyber incident on your operations, reputation, finances, and stakeholders. Consider the direct and indirect costs associated with a data breach, business interruption, legal liabilities, reputational damage, regulatory fines, and the loss of sensitive data. 

Review the cybersecurity measures and controls that are currently in place to protect your digital assets. This includes firewalls, antivirus software, encryption, access controls, employee training, incident response plans, and backup procedures. Determine the effectiveness and adequacy of these controls in mitigating cyber risks. 

Regularly monitor and reassess your cyber exposure as the threat landscape evolves and your digital environment changes. Stay updated on emerging cyber risks, vulnerabilities, and best practices in cybersecurity. Continuously improve your security measures and adapt your strategy to address new challenges.

Remember that assessing cyber exposure is an ongoing process, as cyber risks are constantly evolving. Regularly review and update your assessments, considering the changing threat landscape and the evolution of your digital assets and operations. Engaging cybersecurity professionals or consultants can also provide valuable expertise in assessing and managing cyber exposure effectively.