It is a category of technology that is emerging to empower companies so to recognize, mitigate and manage the risks that are associated with mobile devices. Mobile Risk management is way beyond traditional management of mobile device where they were primarily working on control tactics and on risk avoidance.
The MRM is done to allow their full potential of mobility to exercise while ensuring regulatory compliance and protecting corporate data. In order to achieve accurate balance among risk mitigation, compliance assurance and device management and simultaneously maximizing utility of device and user acceptance that would require an integrated and thoughtful approach towards MRM.
Need for MRM
There is being observed a mass proliferation of heterogeneous deployment of Android, Windows, iOS and Blackberry and other platforms as well connected mobile devices that have started to become a norm. This is also being embraced by organizations that is bring your own device (BYOD) trend on the other side the tablets and smartphone are increasingly becoming a center or say hub for personal and business data. And with the upcoming and already established technologies such as Bluetooth, NFC and others where machine to machine interaction is at its peak and mobile devices have started to become wallets and security badges and more.
These new opportunities are very much significant and the trend that was explained above, BYOD all these can lead to a real cost savers for the companies. But the catch here is that along with such facilities there comes a complex and an unprecedented set of security and compliance risks that would demand a thoughtful and creative approach to Mobile Risk Management.
Risks MRM address
MRM is mainly focusing on risks that are in association with allowing mobile devices to have an access to private networks and stored personal or confidential data which are threat to the loss of private data and sort of leakages, identity theft, cyber and fraud attacks, security breaches, and similar to these. These threats can be utilized to expose an individual or an organization to a range of costly potential risks that include;
• Reputation risk that results from violations and security breaches
• Financial Risk that are generated due to regulatory non-compliance
• Competitive Risk that comes from loss of intellectual property and data leakage
For the regulated industries and government agencies, providing and maintaining regulatory compliance can be at times a daunting risk and more...