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- 17 Mar 2024
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Quantifying risk is essential for understanding the severity of threats so that resources can be allocated effectively. Cyber risk quantification tools are designed to calculate potential financial losses and operational disruptions caused by security incidents. The cyber defence matrix is a complementary tool that aligns security functions (identify, protect, detect, respond, recover) with organizational assets and stakeholders. It provides a broader perspective by linking specific tools and strategies to different stages of a security lifecycle.
Application Of The Cyber Defense Matrix
Real-World Use Cases
Case 1: Financial Sector
Financial sectors such as global banks use a cybersecurity risk matrix to evaluate threats to their transaction processing systems. The matrix highlights risks like unauthorized access and data breaches so that the bank gets the information to deploy multi-factor authentication and encryption tools beforehand.
Case 2: Healthcare Industry
Hospitals employ cyber risk quantification tools to assess the financial impact of potential ransomware attacks. The findings guide investments in intrusion prevention systems and staff training programs.
Case 3: Retail Sector
E-commerce platforms adopt the cyber defense matrix to streamline their incident response strategy so that they can make quick recovery from distributed denial-of-service (DDoS) attacks.
Application Of The Cyber Defense Matrix
- Identify: Tools like asset management platforms and vulnerability scanners.
- Protect: Firewalls, encryption, and access controls.
- Detect: Intrusion detection systems and continuous monitoring solutions.
- Respond: Incident response plans and remediation tools.
- Recover: Backup systems and disaster recovery solutions.
Real-World Use Cases
Case 1: Financial Sector
Financial sectors such as global banks use a cybersecurity risk matrix to evaluate threats to their transaction processing systems. The matrix highlights risks like unauthorized access and data breaches so that the bank gets the information to deploy multi-factor authentication and encryption tools beforehand.
Case 2: Healthcare Industry
Hospitals employ cyber risk quantification tools to assess the financial impact of potential ransomware attacks. The findings guide investments in intrusion prevention systems and staff training programs.
Case 3: Retail Sector
E-commerce platforms adopt the cyber defense matrix to streamline their incident response strategy so that they can make quick recovery from distributed denial-of-service (DDoS) attacks.
