BLACKSTAR ENTERPRISE GROUP, INC. 10-K Cybersecurity GRC - 2024-04-15

Page last updated on April 15, 2024

BLACKSTAR ENTERPRISE GROUP, INC. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-04-15 12:35:48 EDT.

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10-K filed on 2024-04-15

BLACKSTAR ENTERPRISE GROUP, INC. filed an 10-K at 2024-04-15 12:35:48 EDT
Accession Number: 0001065949-24-000044

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Item 1C. Cybersecurity.

ITEM 1C. CYBERSECURITY We place the utmost importance on the security of our systems and the data we will handle once BDTP TM is operational. We plan to implement a comprehensive process for identifying, assessing, and managing material risks from cybersecurity threats as part of our broader risk management system and processes. To identify and assess risks from cybersecurity threats, we will evaluate a variety of developments including threat intelligence, vulnerabilities of third parties, including any auditors or consultants who advise on our cybersecurity systems, evolving regulatory requirements, and observed cybersecurity incidents, among others. We will regularly conduct risk assessments to evaluate the maturity and effectiveness of our systems and processes in addressing cybersecurity threats and to identify any areas for remediation and opportunities for enhancements. The results of such assessments will be evaluated by management and reported to our board of directors, and we will continue to adjust our cybersecurity policies, standards, processes, and practices as necessary. Our Board is responsible for the oversight of risks from cybersecurity threats and directly oversees our cybersecurity policies and practices, internal controls regarding information security, and compliance with legal and regulatory requirements regarding cybersecurity risks. The Board receives regular reports and updates on cybersecurity matters from our management, including developments on existing and new cybersecurity risks and how management is addressing and/or mitigating such risks, cybersecurity and data privacy incidents (if any), the status of key information security initiatives, vulnerability assessments, as well as on existing and emerging threat landscapes. Additionally, on at least an annual basis, the Board reviews and discusses with management our policies and programs with respect to cybersecurity threats. We do not have a dedicated security team, but our Chief Executive Officer monitors the prevention, detection, mitigation, and remediation of cybersecurity threats and incidents in accordance with our incident response and recovery plans. Threats and incidents that are identified as potentially significant are promptly reported to the Board. While risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected and are not reasonably likely to materially affect our Company, including our business strategy, results of operations, or financial condition, we cannot provide assurance that they will not be materially affected in the future by such risks or any future material incidents. See Risk Factors in Part I, Item 1A of this Annual Report on Form 10-K for further information regarding cybersecurity risks.

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