Page 10 - Risk Management Bulletin February 2024

RMAI BULLETIN FEBRUARY 2024

Identify the top

emerging risks and

possible ways to

mitigate those

risks. Parth Shankhdhar

Introduction kinds of attacks. Investing in cybersecurity mea-
sures like as firewalls, anti-virus software, and in-
Risks that individuals, corporations, and governments
trusion detection systems are some examples of
face are continually increasing as a direct result of the
world's ongoing evolution. Emerging risks are hazards methods that you might be able to reduce the
risks associated with cybersecurity.
that have not yet been completely understood or iden-
tified, as well as risks that are new, developing, or b. Provide consistent training sessions for staff on
changing in nature. It is crucial to identify and man- how to recognise and prevent being tricked by
age emerging risks in order to minimise their impact phishing emails and other forms of social engi-
and assure the continuity of business operations. In neering.
this article, we will identify some of the most signifi-
c. Create an incident response strategy in order to
cant new dangers and examine various strategies that
reduce the severity of the effects of a cyber-at-
could be used to lessen or eliminate those dangers.
tack.
1. Cybersecurity Risks d. Carry out vulnerability assessments on a regular
basis in order to locate and address any holes in
a. The hazards posed by cybersecurity are a major
the system.
emerging issue that both individuals and corpora-
tions must contend with. Attacks on computers
and networks are being carried out with increas- 2. Climate Change Risks
ingly sophisticated methodology and increasingly a. The phenomena of climate change are occurring
cutting-edge software and hardware. Data on a worldwide scale and carries with it enormous
breaches, the loss of sensitive information, and dangers for individuals, businesses, and govern-
financial losses are all potential outcomes of these ments. The effects of climate change include an

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