Monitoring or reviewing the risks and the risk environment

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Reference no: EM132271324

Apply the 7 Risk Management Steps and Tools, relative to the cyberattack on the Bank of Bangladesh for $81 million which ultimately was credited to various accounts in RCBC.

Explain and elaborate more.

1. Establishing goals and context (i.e. the risk environment),

2. Identifying risks,

3. Analyzing the identified risks,

4. Assessing or evaluating the risks,

5. Treating or managing the risks,

6. Monitoring or reviewing the risks and the risk environment regularly, and

7. Continously communicating, consulting with stakeholders and reporting.

Reference no: EM132271324

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