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Application Risk Level An applications risk level is an assesment of the applications potential security risks that allows organizations to make informed decisions regarding the application. A risk level has three values: Low, Medium, and High.
Application risk assessments are unique in that they focus specifically on vulnerabilities in applications and their systems. This type of assessment identifies when there are weaknesses in cryptographic algorithms, protocols or keys that could compromise data protection.
Examples of application risks include: Security vulnerabilities that arise from software flaws such as SQL injection, cross-site scripting, and buffer overflows. Attackers can exploit these to gain unauthorized access or disrupt services. Data breaches can occur if inadequate data protection measures are in place.
Environmental, Social Ethical (ESE) and Reputational Risk Management. We recognise that the activities of our customers can have ESE impacts including polluting activities and the potential for human rights infringements.
There are four main types of risk assessments that organisations commonly utilize: qualitative, quantitative, subjective, and objective. In this article, we will explore each type of risk assessment in-depth, discussing their importance, processes, benefits, and limitations.
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