London, 30th January 2017: RiskBusiness, the leading international operational risk solutions firm, today released two new classification taxonomies specific to cyber incidents.
“One of the biggest risks today for any firm irrespective of industry is cyber,” said Mike Finlay, CEO of RiskBusiness. “However, while there is considerable discussion around the topic and even draft regulations in several jurisdictions, there has, until now, not been any classification structure available by which risk intelligence can be extracted from cyber incidents. Management cannot make decisions or authorise investment without a detailed understanding of the threat and how it manifests itself. A cyber incident report that states the firm suffered 87 incidents which cost a total of $150,000 is relatively meaningless. Our two new taxonomy libraries allow the firm to group cyber incidents either by consequence (disruptive incidents, such as Denial of Service attacks, worms or code...