i. Examples of Security Risks:

1. Hacking: Unauthorized access to the system to manipulate or steal data.
2. Phishing: Fraudulent attempts to obtain sensitive information by disguising as a trustworthy entity.
3. Malware: Malicious software designed to disrupt, damage, or gain unauthorized access to a system.
4. Denial of Service (DoS) Attacks: Overloading a system with requests, causing it to become unavailable.
5. Insider Threats: Employees or other internal personnel misusing their access to the system for malicious purposes.
6. Data Breach: Unauthorized access to confidential information, leading to exposure or theft of data.

ii. Business Impacts of Security Violations:

1. Financial Losses: Security breaches can result in direct financial loss through theft or damage to assets.
2. Reputational Damage: Breaches can lead to loss of trust from customers and stakeholders, damaging the company’s reputation.
3. Legal Consequences: Organizations may face lawsuits and penalties for failing to protect sensitive data.
4. Operational Disruption: Security incidents may interrupt normal business operations, causing delays and loss of productivity.

iii. Ways to Manage Security Risks:

1. Regular Security Audits: Conducting regular checks to identify vulnerabilities and ensure systems are secure.
2. Firewalls: Installing firewalls to monitor and control incoming and outgoing network traffic.
3. Employee Training: Educating employees on security best practices and the importance of protecting company data.
4. Encryption: Encrypting sensitive data to ensure that it is unreadable to unauthorized users.
5. Access Controls: Limiting access to systems and data based on employee roles and responsibilities.