Difference Between Threat, Vulnerability and Risk in Computer Network

Learning about the fundament concepts of Threat, Vulnerability, and Risk enables us to take better precautions against digital frauds and dangers. The number of cybercrimes that have been rising in this digital era shows how the aspects of our lives move online. In this article, we'll learn about Threats, Vulnerability, and Risk as well as look at the differences and how they relate to each other.

What is Threat?

A cyber threat is a malicious act that seeks to steal or damage data or discompose the digital network or system. Threats can also be defined as the possibility of a successful cyber attack to get access to the sensitive data of a system unethically. Examples of threats include computer viruses,  Denial of Service (DoS) attacks, data breaches, and even sometimes dishonest employees. 

Types of Threat

Threats could be of three types, which are as follows:

1. Intentional- Malware, phishing, and accessing someone's account illegally, etc. are examples of intentional threats.
2. Unintentional- Unintentional threats are considered human errors, for example, forgetting to update the firewall or the anti-virus could make the system more vulnerable.
3. Natural- Natural disasters can also damage the data, they are known as natural threats.

What is Vulnerability?

In cybersecurity, a vulnerability is a flaw in a system's design, security procedures, internal controls, etc., that can be exploited by cybercriminals. In some very rare cases, cyber vulnerabilities are created as a result of cyberattacks, not because of network misconfigurations. Even it can be caused if any employee anyhow downloads a virus or a social engineering attack.

Types of Vulnerability

Vulnerabilities could be of many types, based on different criteria, some of them are:

1. Network- Network vulnerability is caused when there are some flaws in the network's hardware or software.
2. Operating system- When an operating system designer designs an operating system with a policy that grants every program/user to have full access to the computer, it allows viruses and malware to make changes on behalf of the administrator.
3. Human- Users' negligence can cause vulnerabilities in the system.
4. Process- Specific process control can also cause vulnerabilities in the system.

What is Risk? 

Cyber risk is a potential consequence of the loss or damage of assets or data caused by a cyber threat. Risk can never be completely removed, but it can be managed to a level that satisfies an organization's tolerance for risk. So, our target is not to have a risk-free system, but to keep the risk as low as possible. 
Cyber risks can be defined with this simple formula- Risk = Threat + Vulnerability. Cyber risks are generally determined by examining the threat actor and type of vulnerabilities that the system has. 

Types of Risks

There are two types of cyber risks, which are as follows:

1. External- External cyber risks are those which come from outside an organization, such as cyberattacks, phishing, ransomware, DDoS attacks, etc.

2. Internal- Internal cyber risks come from insiders. These insiders could have malicious intent or are just not be properly trained.

Real World Examples of Threat, Vulnerability and Risk in Computer Network

Threats

1. The WannaCry Ransomware Attack in 2017 used flaws in Microsoft Windows by encrypting data and demand ransom payments from users.
2. Phishing Attacks, is the attack where the attacker uses email to tricks users into disclosing their personal information that leads to data breaches or financial loss.
3. A malicious code was inserted into SolarWinds Orion software by the hackers that made it's supply chain security vulnerable.

Vulnerabilities

1. A bug in the OpenSSL cryptographic package allowed attackers to access sensitive data from different sites using this package.
2. In 2018, critical vulnerabilities was found in modern processors permitted unauthorized access to data stored in memory.
3. A multiple zero-day vulnerabilities, together referred as ProxyLogon, allowed attackers to inject malware in Microsoft Exchange Server, which made it possible for the hackers to access email accounts.

Risks

1. Target’s network, had some flaws which was exploited by external attackers in 2013, allowing the attacker to steal credit card information of millions of customers.
2. Due to a bug in Equifax’s web application, sensitive private information of 147 million people was exposed.
3. In 2022, attackers obtained access to Okta's internal system that highlighted the vulnerability in it's identity management system.

Difference Between Threat, Vulnerability, and Risk

Conclusion

Despite having different meanings, the terms threat, vulnerability, and risk are often used together. Threats are possibility of something negative to happen, vulnerabilities are flaws that can be used against you, and risks are the possible outcomes of these exploits. Understanding the difference between them helps us in better risk prediction, reduces cyber threats, improve system's security and protect user sensitive private data.