Safe Security develops research model predicting industry's breach probability in 12 months

KUALA LUMPUR, June 28 (Bernama) -- Safe Security, a global leader in cybersecurity risk quantification and management, has released new findings to empower CISOs, risk teams, C-Suites, and board members to design and implement an ROI-driven enterprise cyber risk management plan.

In order to truly manage cyber risk, organisations should answer two questions: What is the probability of an attack happening? and, If an attack happens, what is the potential financial loss for the company?

To help organisations answer those questions based on industry data, Safe Security developed a research model that can predict the probability of a breach for any industry over the next 12 months.

Among others, the probability of a healthcare company falling victim to a successful cyber attack is 25 per cent and 20 per cent for a financial services company; industries like manufacturing and retail face less than 15 per cent probability of a successful cyber attack; and, in a ransomware attack, the cost of the ransom itself makes up only 10 per cent of the total financial impact the attack would have against an organisation.

Leveraging this research, Safe Security developed their CRQ Calculator, a free benchmarking tool providing outputs about the cyber health and potential financial risks of a specific industry. These outputs can be tuned specifically to a company based on its internal signals.

“As humans, we love predicting the future. Everything from which team will win tomorrow’s game, to the probability of rain next week.

“The Safe Security team feels just as passionate about helping organisations understand their cybersecurity risk through probability models,” said Saket Modi, co-founder and CEO of Safe Security in a statement.

“Like financial risk, cyber risk needs to be managed in real-time based on data coming from internal and external environments. CISOs can use the Safe CRQ Calculator to gain a quantified baseline to draft their cyber risk management plan over the next 12 months.”

For more information, visit https://www.safe.security/.

-- BERNAMA