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P a g e |1Cyber Risk and Compliance News and Alerts, October 2023This was one of the most difficult meetings in my professional life. It was about Article 11 of the proposed European Cyber Resilience
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Identify the scope of your cyber risk assessment.
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Who needs cyber risk and compliance?

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Businesses and organizations of all sizes that handle sensitive data.
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Cyber risk and compliance refers to the strategies and processes organizations implement to identify, assess, and mitigate risks associated with their digital operations while adhering to legal and regulatory requirements related to data protection and cybersecurity.
Organizations that handle sensitive data, including financial institutions, healthcare providers, and any business subject to data protection laws or industry regulations, are required to file cyber risk and compliance documentation.
To fill out cyber risk and compliance documentation, organizations should conduct a thorough risk assessment, gather relevant data on their cybersecurity practices, identify compliance obligations, and provide clear and accurate information in the required format, often following industry or regulatory guidelines.
The purpose of cyber risk and compliance is to protect sensitive information from cyber threats, ensure that organizations meet legal and regulatory requirements, mitigate potential losses from data breaches, and foster trust among customers and stakeholders.
Organizations must report information such as risk assessment findings, data protection measures, security controls in place, incident response plans, compliance with applicable laws and regulations, and any previous incidents of data breach or non-compliance.
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