2a - The Impact of Threats

Question 1

Define operational loss.

Answer 1

Operational loss refers to the damages of the operating capability of an organisation.

Question 2

Define financial loss.

Answer 2

Financial losses refer to damages to the wealth of an organisation.

Question 3

Define reputational loss.

Answer 3

Reputational losses refer to the loss of trust and lowered opinion of people to a business as a result of them being affected by a threat.

Question 4

What is meant by a supply chain attack?

Answer 4

Attacking weak points in a supply chain, thus effecting the chain as a whole. Essentially a domino effect. A supply chain is only as strong as the weakest point.

Question 5

Why is it hard to mitigate against supply chain attacks?

Answer 5

The whole supply chain may not be controlled by one entity, and 3rd parties might have weaker cybersec.

Question 6

What two vectors cause financial loss? Give 2 examples.

Answer 6

Decrease in income, increase in costs. Legal fees, victim compensation.

Question 7

Why can reputational losses be potentially more damaging then financial and operation?

Answer 7

Financial and operational losses can sometimes be quickly rectified by throwing enough money at a situation. Reputational losses normally heal with time and word of mouth.

Question 8

Define IP theft.

Answer 8

Intellectual property theft refers to when product designs or trade secrets are stolen.