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Countering cyber risk EXECUTIVE SUMMARY: Cyber Resilience Principles for Business Activities

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Added on  2020-12-10

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Countering cyber risk EXECUTIVE SUMMARY Cyber resilience is an important aspect to control and regulate the security threats and risks in technology and networking. TABLE OF CONTENTS EXECUTIVE SUMMARY2 INTRODUCTION 1 Cyber security at board level 1 Cyber resilience process 2 Integrating the concept of cyber security and cyber resilience4 Recommendations for initiating cyber resilience at board-level5 CONCLUSION 6 REFERENCES 8 INTRODUCTION Cyber resilience is defined as the integration of continuous business management and cyber security issues.

Countering cyber risk EXECUTIVE SUMMARY: Cyber Resilience Principles for Business Activities

   Added on 2020-12-10

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Countering cyber risk
Countering cyber risk EXECUTIVE SUMMARY: Cyber Resilience Principles for Business Activities_1
EXECUTIVE SUMMARY Cyber resilience is an important aspect to control and regulate the security threats and risks intechnology and networking. The report has discussed the need of resilience in business activitieswith the example of Afterpay touch group. The report has addressed various concepts andmethods of resilience principles which can effectively analyse the risks of cyber threats. It hasprovided recommendations for the cyber resilience at board level within organisation.
Countering cyber risk EXECUTIVE SUMMARY: Cyber Resilience Principles for Business Activities_2
TABLE OF CONTENTSEXECUTIVE SUMMARY ............................................................................................................2INTRODUCTION...........................................................................................................................1Cyber security at board level ..........................................................................................................1Cyber resilience process..................................................................................................................2Integrating the concept of cyber security and cyber resilience .......................................................4Recommendations for initiating cyber resilience at board-level.....................................................5CONCLUSION ...............................................................................................................................6REFERENCES................................................................................................................................8
Countering cyber risk EXECUTIVE SUMMARY: Cyber Resilience Principles for Business Activities_3
INTRODUCTIONCyber resilience is defined as the integration of continuous business management andcyber security issues. With digital transformation of business activities it is essential for theorganisations to frame appropriate and effective strategies to deal with the threats of cyberattacks. The lack of attention towards security and the concept of cyber resilience can causesevere damage to the performance of business activities (Jin & et.al., 2017).This report will explain the impact of cyber security and resilience at board level oforganisations. It will elaborate the concepts with case study of Afterpay touch group. Afterpay isfinancial technological organisation which has its head quarter in Australia and is ranked amongtop 200 companies of ASX. The organisation provide facility to retailers to make paymentafterwards. The report will describe the integration of cyber resilience and security concepts forimproving the performance and effectiveness of Afterpay. It will also provide recommendationsfor the organisation to implement these concepts into practices at board level rather limiting it toonly information technology department. Cyber security at board level Digital payments are becoming the essential part of consumers in their routine life. Inorder to sustain the long term Afterpay must ensure that the valuable and highly sensitiveinformation which is exchanged between company and its stakeholders is safe and secure. Thedata must be protected from threats of cyber attacks like hacking, data breaching, unauthorisedaccess and service denial attacks(DiMase & et.al., 2015). If Afterpay is vulnerable to these risksthen it will not only cause losses to organisation but will create trust issues among its targetaudience as well and consumers will not prefer Afterpay touch organisation over others. However, the networking and cyber security cannot be accomplished by mere support ofinformation technology department. It also requires the security strategies at board level ofAfterpay. Being a financial technical organisation it becomes more challenging and essential forthe group to protect its business activities from threats. It is the responsibility of all boardmembers and leaders of Afterpay to mitigate risks of cyber security. For instance IT systems offirm may have highly advanced encryption against threats but if board members do not payattention to the threats or warnings then surely organisation will suffer from networking attacks(Gisladottir & et.al., 2017). 1
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