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A "Value at Risk Model" focuses anti-phishing programs where it matters most - SC Magazine

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A "Value at Risk Model" focuses anti-phishing programs where it matters most

If you're a CISO, you've probably wrestled with placing a monetary value on your exposure to cyber-attacks. For example, if your organization was breached thanks to a phishing campaign, how much would it lose in stolen records, device recovery, brand reputation, or even ransom payments?

Your board of directors wants to know. Ditto your CEO, especially before green-lighting extra cybersecurity spending. A couple of years ago, the World Economic Forum's Partnering for Cyber Resilience initiative proposed a model for quantifying the financial impact of cyber-threats. It's called value at risk (VAR) and can be quite useful when applied to phishing.

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Most breaches begin as phishing attacks. People quibble over the exact stat, but no one doubts that phishing is the #1 attack vector. It's easy enough to fool employees into clicking on an email loaded with malware or a social engineering...(continued)

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