Cyber Security Operation Management Risk

CYBER SECURITY OPERATION MANAGEMENT RISK
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CYBER SECURITY OPERATION MANAGEMENT RISK
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CYBER SECURITY OPERATION MANAGEMENT RISK 2
Cyber Security Operation Management Risk
Abstract
According to studies, cyberspace is significantly influencing significant aspects of
people’s lives. For instance, in the field of education, economy, and health. Recent research
shows that they have been many cases of cyber-attacks, which is causing considerable impacts in
both the private and public sectors. This research will examine Domino’s Pizza company, which
recently had cases of cyber threats.
This report aims at addressing cybersecurity threats and COSO’s risk management
model. Domino’s Pizza is one of the organizations vulnerable to such threats. Thus, with the
implementation of COSO’S ERM model, this organization will become less susceptible to such
cybersecurity threats. Therefore, the model highlights various issues that the organization should
solve and provides clear mitigation procedures on those issues.
Introduction
Recent statistics report that the world’s total cost of a data breach is 43.62 million
(Knowles et al., 2015, PP.52-80). Thus these statistics show a clear picture of what is happening
in the current world of technology. There are a variety of threats leading to immense high
numbers of a data breach. For example, ransomware, data breaches, profile hacking, and denial-
of-service. However, most of these threats target cyber-attacks, fraud incidents, and financial
crime (Thakral, Rakesh & Gupta, 2016, pp.1-6). Consequently, technology is making good
advancement in the field of cybersecurity, risk management, and fraud prevention. However,
research shows that most organizations are Lacking sufficient resources to identify, prioritize,
and assess threats.

CYBER SECURITY OPERATION MANAGEMENT RISK 3
Recent reports from chief information security of Domino’s Pizza show that most
organization emphasis on compliance and the new technology, therefore they become prone to
attacks since their cybersecurity is not secure. He affirms that cybersecurity should involve
people, processes, and technology for it to be successful. Thus, excellent and efficient
cybersecurity should establish a culture of security.
It is evident that certification and other compliance are not primarily the basis of a
robust cyber defense. For instance, a study from recent reports shows Domino’s Pizza had
recently encountered a massive breach from a group of hackers, namely “Rex Mundi. They
broke into their systems and posted information to Pastebin. However, they started demanding a
tremendous amount of money, by threatening to expose Domino’s Pizza customer’s data from
the purloined databases. Thus the information system department of this company should make
immediate strategies to deal with this threat. There should make an effort of implementing a
better risk management model.
COSO’S enterprise risk management framework/model
This model became active in the year the 1980s; its objective was to facilitate research that
aimed at finding the cause of frauds. Majorly, it enhances the development of ethical leadership
by the establishment of comprehensive frameworks (Alwan,2018, pp 137-162). Also, it guides
organizations on matters of enterprise risk management, fraud prevention, and internal control.
Thus, it plays a vital role in any organization by enhancing cybersecurity, enhancing
performance, and dealing with all issues of fraud. Therefore, Domino’s Pizza should implement
this framework to which will aid it in dealing with matters of fraud and enhancing cybersecurity.
COSO’S deals with various issues which are critical in Domino’s Pizza company (Hao et
al.,2018).