A Proposed: Integration of the Monte Carlo model and the Bayes network to Propose Cyber Security Risk Assessment Tool for Small and Medium Enterprises in South Africa (original) (raw)

Cyber-risks have become a serious concern and a considered perspective in enterprise risk management configuration and reporting. Cyber-risks has the potential to harm information assets in this era of the internet of things, which ultimately quantifies cybersecurity crimes. For big corporations, it is now a legal requirement to report cyber-security preparedness to corporate shareholders as part of good governance. It is not clear whether small and medium-sized enterprises (SME) have a clear framework in place to combat cyber risks potential to harm information assets. There is minimal research done on the integration of the Monte Carlo simulation tool and artificial intelligence to recommend a proactive cybersecurity risk response plan. So, this paper proposes a cyber-risk assessment tool for small and medium-sized enterprises (SME's) in South Africa. Also, the article forms part of the ongoing doctoral research about the analysis and design of cybersecurity risks framework within the SME's in South Africa. The proposed cybersecurity risk assessment tool aims to predict the risk cause, impact, cyber-risk likelihood, and the systematic trends within small businesses in South Africa.