Risk Topics

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The Software Engineering Institute launches model for enterprise risk management
The Software Engineering Institute (SEI) has released the latest model in its Operationally Critical Threat, Asset, and Vulnerability Evaluation (OCTAVE) suite. The OCTAVE FORTE (OCTAVE For the Enterprise) model for enterprise risk management helps executives and other decision makers understand and prioritize the complex risks affecting their organizations.
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• US / World

Changing tactics and targets: five ransomware challenges for 2021
Asigra Inc. has identified five ransomware challenges which it expects to impact businesses in 2021, driven in part by an escalation of increasingly sophisticated ransomware attacks globally.
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• World

Standards Australia consults on risk management and business continuity briefing paper
Standards Australia has published a briefing paper to explore the way forward for risk management and business continuity standards published by the organization. The ‘Risk Management and Business Continuity Sector Briefing Paper’ outlines a proposed plan for activities in this area.
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• Australia

Surveys look at the risk environment and how organizations expect it to develop in 2021
During ‘Audit & Beyond’, AuditBoard’s second annual user conference, more than five thousand audit, risk, and compliance professionals virtually convened for two days to discuss the dynamic state of risk in 2020 and its associated challenges. In a series of surveys that AuditBoard conducted throughout the conference sessions, it found that the majority of those surveyed believe risk will continue to be dynamic and unpredictable in 2021 and beyond.
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• World

Risk to reward: creating a competitive advantage out of risk management
We’re told that, in a modern market landscape, each business process should add value. But is there really competitive advantage in risk management – and how can this be optimised? Dr. Iain Brown makes some suggestions…
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• UK / World

2021 cyber threat trends outlook
Booz Allen has published a detailed look at the evolving cyber threat landscape, looking ahead to 2021 and predicting how this is likely to change. ‘Cyber Threat Trends Outlook’ says that cyber threats are increasing in both scope and frequency.
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• World

IIA report looks at 2021 risk landscape; identifies business continuity gap between board and C-suite
The Institute of Internal Auditors (IIA) has published ‘OnRisk: A Guide to Understanding, Aligning, and Optimizing Risk 2021’ which examines the views of those who most directly involved in risk management – boards, executive management, and internal audit.
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• World

Probability of events: a theoretical application of the VRPD function to organizational processes
In a previous Continuity Central article, Alejandro Aristizábal Correa looked at ways to calculate the probability of events and introduced the Variable-Rate Probability Distribution (VRPD) theorem. In this article he shows how the VRPD concept can be used in practice by business continuity managers.
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• World

2020 Trustwave Data Security Index report finds that perceived threats do not match actual incidents
Trustwave has released the 2020 Trustwave Data Security Index report which shows how technology trends, compromise risks, and regulations are shaping how organizations’ data is stored and protected.
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• Various

RIMS report looks at why organizations are moving from ERM to strategic risk management
For the past 30 years, enterprise risk management (ERM) programs have helped organizations proactively identify and address risks, however, many times it provides limited insight into strategy and strategic risks, according to a new RIMS report, ‘Pivoting from ERM to SRM’.
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• US / World

NIST publishes guide to integrating cyber security and enterprise risk management
The US NIST has released a new publication, ‘NISTIR 8286, Integrating Cybersecurity and Enterprise Risk Management (ERM)’. This aims to promote greater understanding of the relationship between cyber security risk management and ERM, and the benefits of integrating those approaches.
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• US / World

DHS Homeland Threat Assessment highlights key risks
The US Department of Homeland Security has published its 2020 Homeland Threat Assessment (HTA), which brings together threat information from across the DHS, including intelligence and operational components.
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• US

Deepfakes are a threat that businesses need to take seriously…
Since businesses rely on technology for communication, deepfakes - or synthetic media of false images and/or sound - pose a growing threat to their future strength, growth, security, and bottom line. That’s the belief and warning from global IT solutions provider Technologent.
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• World

2020 Travelers Risk Index finds fewer US companies are taking steps to mitigate cyber threats
The Travelers Companies, Inc. has announced the results of the 2020 Travelers Risk Index, which found that fewer companies than last year have taken steps to mitigate cyber risks, even though the level of concern about these threats has increased during the COVID-19 pandemic.
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• US

Closing the Gaps on Reputational Risk Management: new guide published
RIMS, Airmic, and RepTrak have jointly released a new report exploring best practices and challenges for effectively managing reputational risk. It is based on interviews with 40 risk leaders in the US and Europe, as well as discussions between academics and industry thought leaders.
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• World

Why do we distort probability? Scientists explore the cognitive limitations that hamper risk decision-making
Human perception of probabilities - especially very small and very large probabilities - can be markedly distorted and these distortions can lead to potentially disastrous decisions. But why we distort probability has been unclear. Now a team of scientists from New York University and Peking University has published the results of research into the nature of these distortions, which offers potential clues for explaining this phenomenon.
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• US / World

Mid-year update to Marsh Political Risk Map 2020 shows that political risk increases across the world
Marsh JLT Specialty has published a mid-year update to its Political Risk Map 2020, providing risk ratings for 197 countries across nine perils from January to July 2020. All 197 countries rated experienced an increase in their risk scores between January and July 2020 compared to 30 percent in the same period in 2019.
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• World

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