Book Image

Managing Risks in Digital Transformation

By : Ashish Kumar, Shashank Kumar, Abbas Kudrati
5 (1)
Book Image

Managing Risks in Digital Transformation

5 (1)
By: Ashish Kumar, Shashank Kumar, Abbas Kudrati

Overview of this book

With the rapid pace of digital change today, especially since the pandemic sped up digital transformation and technologies, it has become more important than ever to be aware of the unknown risks and the landscape of digital threats. This book highlights various risks and shows how business-as-usual operations carried out by unaware or targeted workers can lead your organization to a regulatory or business risk, which can impact your organization’s reputation and balance sheet. This book is your guide to identifying the topmost risks relevant to your business with a clear roadmap of when to start the risk mitigation process and what your next steps should be. With a focus on the new and emerging risks that remote-working companies are experiencing across diverse industries, you’ll learn how to manage risks by taking advantage of zero trust network architecture and the steps to be taken when smart devices are compromised. Toward the end, you’ll explore various types of AI-powered machines and be ready to make your business future-proof. In a nutshell, this book will direct you on how to identify and mitigate risks that the ever- advancing digital technology has unleashed.
Table of Contents (22 chapters)
1
Part 1: Invisible Digitization Tsunami
Free Chapter
2
Chapter 1: Invisible Digitization Tsunami
7
Part 2: Risk Redefined at Work
16
Part 3: The Future

Real Examples and Scenarios

The Guinness World Record for the largest bank robbery is held by Dar Es Salaam Investment Bank. It took place in Baghdad in July 2007 and the robbers made off with about $282 million in cash. It was widely reported to be an inside job, with two or three internal security guards suspected of being involved in the robbery. In hindsight, it seems apparent that only an insider with precise information could have planned such a high-value heist. But with foresight, what level of damage can such insiders inflict on a digitized banking environment? What, in your view, are the common ways in which a rogue insider can target a bank?

“All happy families are alike; each unhappy family is unhappy in its own way.”

- Leo Tolstoy

We can extend the message from the preceding quote to risks that an organization is exposed to and try to understand how one scenario can be completely different from another.A risky employee is risky for a company or...