<p>The proliferation of fake news presents an emerging and complex cybersecurity challenge in the realm of information systems, with significant implications for security. This study investigates the intersection of fake news and risk management through a Multivocal Literature Review, drawing from academic research, professional practice, and grey literature. The findings demonstrate how fake news acts as a cyber-enabled threat, amplifying risks and complicating decision-making and risk mitigation. Considering the interdisciplinary nature of cybersecurity and modern management, addressing fake news requires integrated strategies that combine technological innovation, policy development, and education. This research emphasizes the importance of proactive prevention, mitigation, and strategic recovery to enhance resilience against information manipulation. By synthesizing diverse perspectives, the study contributes to the broader discourse on data, information, and management security, and advocates for collaborative solutions to strengthen digital trust and organizational integrity. It also identifies key directions for future research, underscoring the need for continuous adaptation in managing the evolving landscape of cyber-enabled disinformation.</p>