Cyber Security Risk

The risk of loss arising from the failure of the organization’s IT systems to adequately and securely protect its data (including customer, supplier and/or employee data), intellectual property, proprietary information, processes and operating systems from accidental release or deliberate theft, hacking or sabotage.

Cyber Security Risk can give rise to Reputation Risk where it results in significant release of the above data or information, breach of privacy laws (Regulatory / Compliance Risk) or a prolonged disruption to the organization’s operations (Operations and Process Risk).