Page 191 - Cyber Defense eMagazine April 2023

Cyber Risk Quantification: A New Way to

Understand Security Risks

CRQ can identify security improvements, prioritize implementation, and justify security
investments. Here’s how to make it work for your organization.

By Bruno Farinelli, Senior Director of Operations and Analytics at ClearSale

Digital fraud and security risks are always with us, and they’re constantly changing as businesses open
new channels and adopt new technologies that criminals work to exploit. Data breaches are an especially
thorny problem, with millions of customer records breached every year, and even password managers
becoming vulnerable targets. Fraud continues to increase year over year, with identity fraud and fraud-
related scams leading to $52 billion in losses in 2021 in the U.S. alone.
Meanwhile, hybrid work policies, automation and IoT implementation, social and metaverse commerce,
and other trends are adding complexity to the technology and channel attack surface. All of this is

191