Risk management

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Information technology (IT) risk management
What is an information technology risk?

What is an information technology risk?

If your business relies on information technology (IT) systems such as computers and networks for key business activities you need to be aware of the range and nature of risks to those systems.

General IT threats

General threats to IT systems and data include:

hardware and software failure - such as power loss or data corruption
malware - malicious software designed to disrupt computer operation
viruses - computer code that can copy itself and spread from one computer to another, often disrupting computer operations
spam, scams and phishing - unsolicited email that seeks to fool people into revealing personal details or buying fraudulent goods
human error - incorrect data processing, careless data disposal, or accidental opening of infected email attachments.

Criminal IT threats

Specific or targeted criminal threats to IT systems and data include:

hackers - people who illegally break into computer systems
fraud - using a computer to alter data for illegal benefit
passwords theft - often a target for malicious hackers
denial-of-service - online attacks that prevent website access for authorised users
security breaches - includes physical break-ins as well as online intrusion
staff dishonesty - theft of data or sensitive information, such as customer details.

Read more about online crimes against business.

Learn more about protecting your website from hackers.

Natural disasters and IT systems

Natural disasters such as fire, cyclone and floods also present risks to IT systems, data and infrastructure. Damage to buildings and computer hardware can result in loss or corruption of customer records/transactions.