Strategies for Cyber Risk Assessment and Mitigation in Small and Medium-Sized Enterprises in Thailand

The significance of risk management has heightened across companies of all sizes from large corporations to small enterprises. The escalating cyber threat and financial impact, influenced by factors like Thailand's average profit margin, compel organizations to scrutinize emerging risks. Medium-sized, small, and micro-enterprises are notably affected due to limited resources and technological expertise, influencing investment decisions and risk mitigation strategies. A proof of concept was executed, simulating a medium-sized enterprise with diverse assets. The results highlight network device detection and evaluation within the framework, emphasizing the evolution of risks without proactive intervention. This accessible approach guide future cybersecurity enhancements for organizations. Keywords: Risk management, cyberattacks, financial impact, medium-sized enterprises, proof of concept, cybersecurity.