Cybersecurity is gradually becoming a word that is being thrown around every day, like Artificial Intelligence, Internet of Things, IoT, etc., the world is beginning to see that cybersecurity is just as important. Strong cybersecurity culture is required to be able to comfortably use devices and innovations. It will give us wings to explore the virtual world without fear of being hacked.
More companies and individuals keep jumping into the internet bandwagon, an action that has been greatly helped by the COVID pandemic and it is apparent that as cybercrimes are also on the rise, everyone has to defend themselves. While we all know that security is everyone’s business, it is also crucial that an expert approach is taken to make sure a multi-million-dollar company doesn’t get virtually emptied while everyone sleeps. Expert agencies are now providing risk assessment tools that help a company know its security positions concerning cybersecurity guidelines and frameworks.
SO WHAT ARE THE BEST RISK ASSESSMENT TOOLS?
Risk assessment tools are online cybersecurity assessment tools that analyze the risks and weaknesses a system is prone to and recommend measures to mitigate against these risks. Risk assessment tools work in varying ways, and some, like the FFIEC’s CAT are tailored towards a specific sector or institution. Let’s take a deeper look at some of the best risk assessment tools.
Using its effective Defendify Cybersecurity Health Checkup, Defendify asks you some simple questions to properly gauge your cybersecurity level and then releases a detailed report of your security state, it lets you know what weakens your security and means of mitigating against them. At the foundation layer, Defendify scans through a company’s network data to understand its policies, procedure, and plans, comparing them with the cybersecurity frameworks available, it gives insights into the company’s strengths and weaknesses when it comes to cybersecurity compliance.
With the knowledge that most cybersecurity attacks come from employees’ negligence, Defendify takes employees through constant training and information updates to keep them up-to-date with the latest security measures. Then at the technology layer, Defendify provides all-around security and protection. Defendify constantly scans your systems for network vulnerabilities, password thefts. It also provides simple ways to device plans in the case of breaches, to bring damages to the barest. Defendify works as an around-the-clock compliance and security officer, not like a do-it-once security project.
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FFIEC’S CYBERSECURITY ASSESSMENT TOOL (CAT).
In a bid to help the financial and non-financial institutions fight cyber insecurity, the Federal Financial Institutions Examination Council (FFIEC) developed the Cybersecurity Assessment Tool (CAT). CAT provides banks, credit unions with guidelines and policies that are recommended by the National Institute of Standards and Technology (NIST) Cybersecurity framework. CAT is one of the most popular online cybersecurity risk assessment tools out there. CAT works in two parts, the inherent risk profile, and cybersecurity maturity.
The Inherent Risk Profile helps identify the various mediums through which the organization is prone to risks ranging from online business and e-commerce to the type of technologies the company uses. It also monitors threats that arise from external factors and the mode of operations of the organization. CAT likewise monitors service delivery channels for potential threats. After the profiling is completed, CAT then lists the risks in the following categories.
- Least inherent risk
- Minimal inherent risk
- Moderate inherent risk
- Significant inherent risk
- Most inherent risk
The second phase of CATS’ operation involves the Cybersecurity Maturity procedure where the cybersecurity assessment tool measures the risks and the approaches that can be taken to control these risks. It then includes an insight that reveals whether the bank’s practices, behaviors, and processes align with cybersecurity preparedness within five domains that include:
- Cyber Risk Management and Oversight
- Threat Intelligence and Collaboration
- Cybersecurity Controls
- External Dependency Management
- Cyber Incident Management and Resilience
This phase reflects the minimum requirements and compliances using each domain. The assessment tool then provides the ideal state that can be achieved and ways to achieve it, this is what the institution will then apply for their action plans.
RSI is an online security partner that provides unmatched cybersecurity and it also serves as a security and compliance software ISV. This assessment tool is used for key approaches to render a comprehensive cybersecurity assessment tool.
Compliance Advisory Services
Where RSI compares the company’s policies and procedures against industry standards. It helps the organization achieve compliance with frameworks like PCI DSS, HIPAA, HITRUST, etc., while also issuing compliance certificates.
Network Security Services
RSI adopts day-to-day online real-time monitoring, to help make sure the company’s data, network are secured. Using this approach, intrusions are immediately detected and guarded against and reports of incidents are immediate. Insightful analytics are also provided to make sure that the company’s security level is kept at an optimum.
Penetration Testing is also carried out, RSI does ethical hacking for companies to help them better understand their security weaknesses and it also uses Cloud Computing Services that covers the organization and their partner networks.
Ironnet calls its cybersecurity assessment tool a Collective Defense, boasting the best minds and experts in the industry to safeguard nations, companies from the ever-evolving cyber threats. The collective Defense approach is such that organizations are brought together to collaborate to share intelligence, hunt, and identify threats together.
Ironnet risk assessment tools help companies align their practices with regulatory and contractual requirements while also measuring cybersecurity levels. It also tests the network reliability, providing observations and solutions. Incident response services and digital forensic investigative services are proved, training and security program reviews are also provided by Ironnet.
Cybersecurity is a very complex, difficult problem to tackle as it is a very volatile internet environment where anything happens within a split second. Companies need to constantly be on their toes and make use of the best cybersecurity assessments, not as the main core of security, remember, security is everyone’s hassle but as one of the many measures put in place to safeguard against risks and avoidable losses.
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