Risk ≠ threat explained

The terms risk and threat are often used interchangeably in everyday language, but in the context of cybersecurity, they have distinct meanings and roles.

It may sound academic but understanding the difference between the two is critical for effective risk management and risk mitigation strategies.

You may have never seen a name of a threat that is different from the name of the risk it represents:

a threat called "theft of data" will most likely be a risk called "theft of data".

This can make you start wondering why is that, is a threat the same as a risk? Well, yes and no.

A threat is a potential source (reason) of harm or adverse event - something that could cause damage or have negative consequences. It exists independently of any vulnerabilities or protective measures. So the "potential of data theft" is present everywhere the data is, regardless of measures (if we have any or not).

But the risk is different even if called "theft of data", because with risk we try to assess impact and probability of that undesired event.

So here comes the twist:

A risk is not the threat itself even if it bears the same name - it is our decision to evaluate and manage that threat (now a risk).

To sum it up

• threats exist independently of us,
• a risk exists only when we choose to evaluate a threat’s relevance, likelihood, and impact in our context,
• the resulting risk is managed for as long as it stays relevant,
• when conditions change, the risk may be retired — but the underlying threat remains in the environment and may become a risk again in the future,
• if so, we start the threat to risk process all over again.