Cyber Risk Management and Control: A Literature Review

Running head: RISK MANAGEMENT/ RISK CONTROL
Risk Management/ Risk Control
Name of the Student
Name of the University
Author’s Note:

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RISK MANAGEMENT/ RISK CONTROL
Table of Contents
Introduction................................................................................................................................2
Literature Review.......................................................................................................................2
Cyber Risks............................................................................................................................2
Risk Management or Risk Control for Cyber Risks..............................................................3
References..................................................................................................................................5
Bibliography...............................................................................................................................6

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RISK MANAGEMENT/ RISK CONTROL
Introduction
Cyber attacks have extremely common in present cyber world. These attacks can be
referred to as malicious and deliberate attempts by any individual and organization to
eventually breach an information system of any other organization or individual (Von Solms
and Van Niekerk 2013). The most common types of cyber risks are botnets, hacking, ransom
ware, phishing, malware, DDoS or distributed denial of service attacks, man in the middle
attacks, pharming, spamming, spoofing, spyware and many more. Cyber risk assessment is
stated as the proper identification, evaluation and analysis of several cyber threats. The entire
IT infrastructure of any organization is being analysed for successful identification of every
possible vulnerability for technology, processes and people and also threats in various
systems.
After a successful assessment of cyber risks, risk management and control program is
required. This type of program prioritizes the assessed risks in respect to their occurrence
likelihood. With the help of a successful risk management, the cyber risks could be easily
minimized and monitored and hence the impact of such unfortunate events is being controlled
(Wang and Lu 2013). The following literature review outlines a brief discussion on cyber risk
management and control. Proper details would be provided regarding cyber risks and process
of managing them with a specific risk management plan.
Literature Review
Cyber Risks
According to Hahn et al. 2013, cyber risk is the possibility of a malicious attempt for
damaging or disrupting a system or computer network. It is a malignant and destructive
activity that tries to access network via data communication pathway without authorization
from owners. These types of risks can either be deliberate or unintentional. Malware and