What is Digital Risk Protection?

What is Digital Risk Protection?

Digital Risk Protection (DRP) is how organizations protect their digital assets and brand from external threats. It’s a proactive and comprehensive approach to safeguarding individuals, businesses, and organizations from a wide range of digital threats, and it includes strategies, technology and services that identify, monitor, and mitigate digital risks effectively.

As organizational digital footprints expand, the attack surfaces that can be exploited by threat actors expand, too. DRP solutions allow organizations to leverage real-world threat actor activity to their advantage –  identifying attacks before they happen.

The Cybersecurity and Infrastructure Security Agency (CISA) has determined that sharing information between private sector organizations is critical. The reason? Many risks are intersecting or shared, and can have cascading impacts across organizations, sectors, and national critical functions (NCFs). For this reason, DRP solutions correlate multiple sources – scanning the clear, deep, and dark webs for potential dangers, while also proactively identifying and researching malware, phishing scams, and other threats.

Operating on the principle of early detection and rapid response, DRP solutions continuously scan the digital landscape – identifying vulnerabilities, unauthorized access, and potential breaches before they escalate. This empowers organizations to stay ahead of cyber threats and proactively mitigate risks.

Why is DRP Important?

Digital transformation is a double-edged sword – although it offers businesses many advantages, it also introduces new threats. This is why DRP solutions are essential – because the digital threat landscape is never static. Digital threats come in all shapes and sizes, and a robust DRP program not only protects organizations from cyberthreats or regulatory noncompliance, but also ensures business continuity and operational functionality. Some of the key risks that DRP solutions protect companies from include:

• Operational Disruptions – Malicious actors can exploit vulnerabilities in digital devices, connected equipment, IoT devices or other tools – resulting in malfunctions and downtime. Even when there is no malicious intent, poorly planned digital transitions can disrupt workflows, harm productivity, negatively impact lost revenue, and lower customer satisfaction.
• Reputational Damage – Online accounts and social media presence are particularly vulnerable to hacking. Attackers can spread misinformation or deploy viruses that dramatically erode trust in an organization’s brand. Data leaks or phishing scams can target customers or employees and severely damage reputation. Criminals can also impersonate a company, create fake websites, or exploit other communication channels to damage reputation.
• Compliance Challenges – Implementing technologies correctly is crucial to ensure that procedures, devices, and security comply with industry standards and governmental regulations. Inadequate DRP can lead to hefty fines, especially when dealing with client data or PII. 
• Financial Losses – Financial risks are often the primary concern when considering digital threats. Production halts, lost business due to reputational damage, and actual financial loss due to breaches are just a few of the threats.

How Does Digital Risk Protection Work?

DRP works by harnessing the power of threat intelligence and digital monitoring.

Threat intelligence gathers information about attackers’ methods and targets. DRP uses this knowledge to proactively search the web and build a snapshot of the threat landscape. This could involve scouring forums, marketplaces, and the dark web for stolen credentials or discussions about a given organization.

DRP also constantly monitors your digital footprint. This includes things like employee social media, public cloud storage, and any exposed data. By keeping a watchful eye, DRP can identify leaks or vulnerabilities before they turn into major breaches.

How do DRP platforms do this? They use intelligent algorithms alongside various reconnaissance methods to find, track, and analyze threats in real time. They analyze risk based on both indicators of compromise (IOCs) and indicators of attack (IOAs). This enables them to warn security teams of potential or imminent attacks, while at the same time not overwhelming limited human resources with low-risk threats or false positives. Here’s what the DRP workflow looks like:

1. Threat Intelligence Gathering – DRP gathers data on cyber threats, including attacker tactics and their targets. This information comes from various sources, allowing it to predict potential attacks.
2. Digital Footprint Monitoring – DRP continuously scans the internet for mentions of your organization’s assets. This includes social media, public cloud storage, and any accidentally exposed data.
3. Risk Analysis – By combining threat intelligence with your digital footprint, DRP identifies potential risks. This could be leaked credentials, impersonation attempts, or discussions about targeting your company.
4. Alerting and Response – Once a risk is detected, DRP generates alerts for your security team. This allows them to take swift action, like removing leaked data or patching vulnerabilities, before attackers can exploit them.

What Are the Key Components of Digital Risk Protection?

The key components of Digital Risk Protection include:

• Visibility – The cornerstone of any effective DRP strategy, visibility involves monitoring an organization’s attack surface for possible threats to brands, domains, and individuals. Leveraging sophisticated AI-driven software, DRP solutions can provide comprehensive visibility into threats that originate outside the organization’s security perimeter. This enables security teams to identify and address threats before they can cause significant harm.
• Protection – DRP protects vulnerable digital assets against a variety of cyber threats, including phishing campaigns, impersonation attacks, malicious domains, and data theft. By integrating advanced threat intelligence, DRP solutions help organizations safeguard their digital footprint – keeping both data and operations secure.
• Disruption – DRP is able to disrupt the infrastructure used by digital threat actors. This includes removing malicious domains, reporting fraudulent mobile apps or social media accounts, and blocking offensive content. Effective disruption prevents cyber attackers from executing their plans, proactively protecting digital assets.
• Automation and Ease of Management – Managing digital risks is well known to be a time-consuming task. For this reason, automation is vital. DRP solutions streamline operations with automated remediation and easy-to-use dashboards. This allows security teams to focus on strategic tasks rather than being bogged down by manual processes.
  
  To ensure the effectiveness of your Digital Risk Protection (DRP) initiatives, implementing the Cyber Threat Exposure Management (CTEM) framework is paramount. CTEM provides a structured approach to identify, manage, and mitigate cyber threats, enhancing the resilience of your digital ecosystem. To assist you in operationalizing CTEM, we offer a comprehensive guide that walks you through each step of the process. By integrating CTEM into your DRP strategy, you can achieve a robust, proactive defense against digital threats, ensuring your organization’s assets and reputation remain protected.