Have you noticed the increasingly-complex cookie disclosure forms popping up on even the most unassuming website? These expanded forms aren’t present because digital businesses have suddenly decided informing customers about their data collection practices is an ethical imperative. Instead, these companies are most likely working with customers in both the U.S. and the EU, and they find themselves facing significant backlash if they aren’t following strict transparency rules. 

These GDPR rules define potentially devastating penalties for unassuming companies, and these penalties can come for the most unexpected reasons–if you don’t know the rules. 

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With modern IT infrastructure becoming increasingly complex, intertwined systems managed through service providers and managing experts, the inevitable security problem rears its head. How can one organization, using several service providers, ensure their data security as it travels through those systems?

Over the past decade, enterprise and government specialists have refined the practice of risk management and security-focused on digital supply chain management. To support such efforts, the National Institute of Standards and Technology (NIST) released the newest revision, NIST 800-161, in May 2022. 

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Over the past few weeks, we’ve talked quite a bit about risk:

• What it is.
• How it applies to compliance.
• How you can start to think about it as an aspect of your overall business strategy. 

In many of the cases we’ve discussed, we’ve referred to risk in terms of mitigation–how to close the gap between your security capabilities and potential threats in the wild. 

But what’s critical to understand about risk is that it is just as much about how much risk you want to take on as you want to remove. And, when discussing potential risks concerning business goals, you must consider your risk appetite statement. 

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