Fundamentals for Cyber Risk Management:

S. Priya Vel Tech Rangarajan Dr. Sagunthala R&D Institute of Science and Technology, India https://orcid.org/0009-0003-3305-745X S. Thirumal Vels Institute of Science, Technology, and Advanced Studies, India https://orcid.org/0000-0002-8497-8764 S. P. Santhoshkumar Vel Tech Rangarajan Dr. Sagunthala R&D Institute of Science and Technology, India https://orcid.org/0000-0001-8531-759X S. Ramamoorthi Vel Tech Rangarajan Dr. Sagunthala R&D Institute of Science and Technology, India https://orcid.org/0000-0001-5152-278X M. Mohamed Sithik Vel Tech Rangarajan Dr. Sagunthala R&D Institute of Science and Technology, India https://orcid.org/0009-0005-3989-7198 Fundamentals for Cyber Risk Management

The importance of cyber risk management cannot be overstated in the digital era because the companies rely on technologies such as cloud computing, AI, IoT, and 5G which increases the attack surface and puts up against advanced threats. Fundamentals of Cyber Risk Management chapter discusses the main principles of identifying, evaluating, and eliminating cyber risks and enhancing the resilience. It describes the risk lifecycle, including identification, assessment, treatment and monitoring and presents standards, including NIST CSF, ISO/IEC 27005, COBIT and FAIR. The challenges that are identified in the chapter are the measurement of risks, human factors, resource constraints of SMEs, and vulnerability of supply chains. It emphasizes the need to prevent, detect, respond and recover, and be in compliance with GDPR and CCPA. Lastly, it focuses on leadership, culture, and accountability in instilling cybersecurity into enterprise governance to develop adaptive, secure organizations.
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