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Cybersecurity-Due-Diligence is considered as a process of investigating a target company for any cybersecurity and data privacy concerns. This process is conducted to find out if there are any form of cybersecurity related threats in an organization. Why is Cybersecurity-Due-Diligence carried out?Cybersecurity-Due-Diligence services are carried out for the following reasons:
Importance of carrying out Cybersecurity-Due-DiligenceA Cybersecurity framework within an organization is crucial to access the risks present in an organization. Hence, from a buyer’s perspective in a private acquisition transaction, carrying out cybersecurity-due-diligence is a priority. This due diligence encompasses cyber-related threats, data breaches, confidential, and secret information that is present with the target company. Reputational loss is severe when compared to other forms of loss. Apart from this, carrying out due diligence would help in the seamless closing of the transaction. Investigating the target company would provide a clear picture to the buyer on the complexities present in the target company. Relevant Authority for Cybersecurity-Due DiligenceIn India, the Information Technology Act, 2000, regulates information technology and cybersecurity. The Government of India (GOI) has implemented the following regulations:
Procedure for Cybersecurity-Due-DiligenceIn a private acquisition transaction, there are two or more parties. The parties are the buyer, the seller, and the target. It is the buyer's primary responsibility to carry out the due diligence process on the target company. By carrying out the above process, the buyer would know about the inconsistencies present in the company. The following process is carried out for due diligence:
Enterslice Approach for Due DiligenceBeing an expert in providing due diligence services to organizations, we have implemented our approach for cybersecurity-due-diligence and data privacy services. Our approach includes the following: We understand that no organization can be devoid of any threats. These threats may be internal threats and external threats. Internal threats can be in any form, such as software threats and employee information breaches. External threats will include cyber hacking, ransom wares, and criminal threats. Therefore any organization is exposed to a variety of threats. Hence it is essential to devise a full proof method to understand the risks associated with the organization. Once the risks are identified, solutions must be implemented to reduce the amount of risk. This risk assessment process is a crucial step to reduce the amount of informational loss in an organization. Once the assessment is carried out, we classify the risks and calculate the damage caused by the risk. Each risk is classified based on a particular category. Risks that are quantified as a causing higher loss would be placed in a separate category compared to lesser risks. After classification, we will assess the probability of each risk. If a particular threat comes in an organization, what would be the solution to the problem? Our approach is based on the above. Once risks are classified and predicted, we implement a risk handling mechanism that will address all the present and future problems that pose a threat to an organization's cybersecurity framework. By following this approach, your organization can avoid the maximum amount of risks. Apart from the above approach followed, we constantly strive to update and implement new procedures to handle risks appropriately. Enterslice Benefits
How to reach Enterslice for Cybersecurity-Due-Diligence and Data Privacy Services The following personnel is qualified to conduct due diligence in an organization: • Investment Banks; • Consulting Firms; • Accounting Firms; • Law Firms; and • IT Consulting Firms. following educational qualifications are required to enroll as a valuer: • Sensitive Data Includes personal information such as name, age, and address, health-related data, or any form of biometric data. • Non-Sensitive Data Non-Sensitive data is information that is not classified as sensitive data. A company, while processing sensitive data, has to be more cautious. Consent from the respective customers is required while processing sensitive data. This is not required when processing non-sensitive data. |