Pressing need for digital risk management

Digital Shadows, the industry leader in digital risk management, last week unveiled a new report called: ‘The Pressing Need for Digital Risk Management’ from top analysts at the Enterprise Strategy Group (ESG) looking at the growing importance and rates of adoption of Digital Risk Management in business today.

The report recognises that most CEOs and corporate boards no longer shy away from cybersecurity strategy as they might have done even five years ago. Rather, progressive executives now realise that cyber-risk equates to business risk and needs to be addressed as part of their overall business strategy.

Most executives no longer accept “good enough” security, and are willing to invest in best practices and leading security defenses to protect their organisations. However, many organisations continue to think of cyber-risk in terms of internal network penetration rather than as a more comprehensive strategy that includes all digital assets – websites, social networks, VIP and third-party partner exposure, etc. To address these risks, the report suggests CISOs and risk officers must adopt a thorough digital risk management strategy that includes monitoring, filtering, prioritising, and responding to threats across the public Internet and dark web. 

Jon Oltsik, Senior Principal Analyst at ESG who wrote the report, said: “Many executives are beginning to realise they need to take a different stance on cyber security. It Is no longer a case of just spending dollars on perimeter-focused cybersecurity but they need to move to a more holistic digital risk strategy designed to analyse threat intelligence, monitor deep web activities, track the posting of sensitive data, and oversee third parties.”

“We know that a strong and resilient strategic digital risk management strategy should include policies and monitoring for targeted cyber threats; Infrastructure exposure, data loss; brand and VIP exposure, physical threats and third party risks to be truly effective,” said Alastair Paterson, CEO and Co-Founder of Digital Shadows. “Digital Risk Management, which combines automation and human analytics, is becoming the critical component in your cyber security arsenal.”

Digital Shadows monitors and manages an organisation’s digital risk across the widest range of data sources within the open, deep, and dark web to protect an organisation’s business, brand, and reputation. The Digital Shadows SearchLight service combines scalable data analytics with human intelligence analysts to manage and mitigate risks of an organisation’s brand exposure, VIP exposure, cyber threat, data loss, infrastructure exposure, physical threat, and third party risk, and create an up-to-the minute view of an organisation’s digital risk with tailored threat intelligence. The company is jointly headquartered in London and San Francisco.