The finance department has started to use a new payment system that requires strict PII security restrictions on various network devices.
The company decides to enforce the restrictions and configure all devices appropriately.
Which of the following risk response strategies is being used?
Click on the arrows to vote for the correct answer
A. B. C. D.B.
The risk response strategy being used in this scenario is "mitigate."
Risk response strategies are actions taken to address or respond to identified risks that could impact an organization's objectives. These strategies include avoiding, mitigating, transferring, or accepting the risk.
In this scenario, the finance department's use of a new payment system that requires strict Personally Identifiable Information (PII) security restrictions on various network devices poses a risk to the organization's information security. If these security restrictions are not enforced, the organization may be vulnerable to unauthorized access, data breaches, and financial losses.
By configuring all devices appropriately to enforce PII security restrictions, the organization is taking a risk mitigation approach. Mitigation involves reducing the likelihood or impact of a risk by taking actions to prevent or minimize its occurrence.
In contrast, an "avoid" response strategy would involve not using the new payment system altogether to avoid the potential risks associated with it. A "transfer" response strategy would involve shifting the risk to a third-party through insurance or outsourcing, while an "accept" response strategy would involve acknowledging the risk but taking no action to address it.
Therefore, the best response strategy in this scenario is to mitigate the risk by enforcing the appropriate security restrictions on all devices to ensure the protection of PII.