Your company, SecureTech Inc., specializes in developing financial software. As part of the Risk Management team, you have been tasked with analyzing the potential risks associated with a newly identified software vulnerability that could allow unauthorized access to financial data. Which of the following would best categorize the risk in terms of the impact to your organization should this vulnerability be exploited?
The correct answer is 'High impact' because the exploitation of a vulnerability concerning financial data can lead to substantial monetary loss, reputational damage, and legal consequences. It is considered a high-impact risk due to the sensitive nature of the data involved and the potential for significant detriment to the organization. 'Low impact' is incorrect because financial data is critical and the consequences of its unauthorized access are severe. 'Acceptable impact' is not a standard term used in risk analysis, and 'Insignificant impact' is incorrect as it underestimates the seriousness of risks to financial data which would almost never be classified as insignificant.
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What are the potential consequences of a high-impact risk related to financial data?
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How can organizations evaluate the impact of a vulnerability?
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What other risk categories are important to understand besides high impact?