Security risk assessment services are crucial in the cybersecurity industry as they help organizations identify, analyze, and mitigate potential security risks to their systems, networks, and data. Here are some opportunities for providing security risk assessment services within the industry:
Conducting Vulnerability Assessments: As a security risk assessment service provider, DISC can conduct vulnerability assessments to identify potential vulnerabilities in an organization’s systems, networks, and applications. You can then provide recommendations to mitigate these vulnerabilities and enhance the organization’s overall security posture.
Performing Penetration Testing: Penetration testing involves simulating a real-world attack on an organization’s systems and networks to identify weaknesses and vulnerabilities. As a security risk assessment service provider, DISC can perform penetration testing to identify potential security gaps and provide recommendations to improve security.
Risk Management: DISC can help organizations identify and manage risks associated with their information technology systems, data, and operations. This includes assessing potential threats, analyzing the impact of these threats, and developing plans to mitigate them.
Compliance Assessment: DISC can help organizations comply with regulatory requirements by assessing their compliance with industry standards such as ISO 27001, HIPAA, or NIST-CSF. DISC can then provide recommendations to ensure that the organization remains compliant with these standards.
Cloud Security Assessments: As more organizations move their operations to the cloud, there is a growing need for security risk assessment services to assess the security risks associated with cloud-based systems and applications. As a service provider, DISC can assess cloud security risks and provide recommendations to ensure the security of the organization’s cloud-based operations.
Security Audit Services: DISC can provide security audit services to assess the overall security posture of an organization’s systems, networks, and applications. This includes reviewing security policies, processes, and procedures and providing recommendations to improve security.
By providing these services, DISC can help organizations identify potential security risks and develop plans to mitigate them, thereby enhancing their overall security posture.
We’d love to hear from you! If you have any questions, comments, or feedback, please don’t hesitate to contact us. Our team is here to help and we’re always looking for ways to improve our services. You can reach us by email (info@deurainfosec.com), or through our website’s contact form
Contact DISC InfoSec if you need further assistance in your ISO 27001 2022 transition Plan
GRC (Governance, Risk, and Compliance) online tools are designed to help organizations manage their internal processes, risk assessments, compliance, and audits. Here are some of the best GRC online tools available:
ZenGRC: ZenGRC is a cloud-based GRC tool that offers risk management, compliance management, and vendor management solutions. It allows users to streamline compliance tasks, track risks, and manage third-party vendors.
LogicManager: LogicManager is a GRC platform that helps businesses identify, assess, and manage risks. It offers a variety of modules, including regulatory compliance, vendor risk management, and incident management.
RSA Archer: RSA Archer is an enterprise GRC platform that helps businesses manage risk, compliance, and audit processes. It offers a variety of modules, including risk management, compliance management, and policy management.
SAP GRC: SAP GRC is a suite of GRC tools that helps businesses manage risk, compliance, and audit processes. It offers a variety of modules, including access control, process control, and risk management.
MetricStream: MetricStream is a cloud-based GRC platform that helps businesses manage compliance, risk, and audit processes. It offers a variety of modules, including regulatory compliance, risk management, and quality management.
NAVEX Global: NAVEX Global is a GRC platform that helps businesses manage compliance, risk, and ethics. It offers a variety of modules, including policy management, incident management, and third-party risk management.
Compliance 360: Compliance 360 is a GRC platform that helps businesses manage compliance, risk, and audit processes. It offers a variety of modules, including risk management, compliance management, and incident management.
Each of these tools offers unique features and benefits, so it’s important to evaluate your organization’s specific needs before choosing the best GRC tool for your business.
From Jack Jones, Chairman of the FAIR Institute and creator of the FAIR model for cyber risk quantification (CRQ) — the definitive guide to understanding CRQ: What it is (and isn’t), its value proposition and limitations, and facts regarding the misperceptions that are commonplace.
If you’re considering or are actively shopping for an analysis solution that treats cyber risk in financially-based business terms, Jack’s extensive, jargon-free guide — including an evaluation checklist — will give you the objective and practical advice you need.
And just in time. There’s never been more interest or, frankly, confusion in the marketplace over what exactly is cyber risk quantification. As you’ll read in this buyer guide, many solutions may count vulnerabilities, provide ordinal values, or deliver numeric “maturity” scores but don’t measure risk, let alone put a financial value on it to help make business decisions.
This paper answers questions such as:
What does CRQ provide that I’m not already getting from other cyber risk-related measurements?
What makes CRQ reliable? Why should I believe the numbers?
Do I have enough data to run an analysis?
Jack also provides red flags to look out for in CRQ solutions, such as:
Mis-identification of risks.
Mis-use of control frameworks as risk measurement tools.
Over-simplification that can result in poorly-informed decisions, especially when performed at scale.
The ‘Understanding Cyber Risk Quantification’ guide is designed to be of use to security and risk executives, industry analysts, consultants, auditors, investors, and regulators–essentially anyone who has a stake in how well cyber risk is managed.
The associated risk management programs are also constantly evolving, and that’s likely due to outside influences such as client contract requirements, board requests and/or specific security incidents that require security teams to rethink and strengthen their strategy. Not surprisingly, CISO’s today face several dilemmas: How do I define the business impact of a cyber event? How much will it cost to protect our company’s most valuable assets? Which investments will make the business most secure? How do we avoid getting sidetracked by the latest cyber breach headline?
A mature risk analysis program can be thought of as a pyramid. Customer-driven framework compliance forms the base (PCI/ISO frameworks required for revenue generation); then incident-driven infrastructure security in the middle (system-focused security based on known common threats and vulnerabilities); with analysis-driven comprehensive coverage at the pinnacle (identification of assets, valuations, and assessment of threat/vulnerability risk).
How do you kickstart that program? Here are five steps that I’ve found effective for getting risk analysis off the ground.
Determine enterprise-specific assets
The first step is determining what is critical to protect. Unlike accounting assets (e.g., servers, laptops, etc.), in cybersecurity terms this would include things that are typically of broader business value. Often the quickest path is to talk with the leads for different departments. You need to understand what data is critical to the functioning of each group, what information they hold that would be valuable to competitors (pricing, customers, etc.) and what information disclosures would hurt customer relationships (contract data, for instance).
Also assess whether each department handles trade secrets, or holds patents, trademarks, and copyrights. Finally, assess who handles personally identifiable information (PII) and whether the group and its data are subject to regulatory requirements such as GDPR, PCI DSS, CCPA, Sarbanes Oxley, etc.
When making these assessments, keep three factors in mind: what needs to be safe and can’t be stolen, what must remain accessible for continued function of a given department or the organization, and what data/information must be reliable (i.e., that which can’t be altered without your knowledge) for people to do their jobs.
Value the assets
Once you’ve identified these assets, the next step is to attach a value. Again, I make three recommendations: keep it simple, make (informed) assumptions, and err on the side of overestimating. The reason for these recommendations is that completing a full asset valuation for an enterprise would take years and wouldn’t ever be finished (because assets constantly change).
Efficient risk analysis requires a more practical approach that uses broad categories, which can then be prioritized to understand where deeper analysis is needed. For instance, you might use the following categories, and assign values based on informed assumptions:
Competitive advantage – the items/processes/data that are unique to your company and based on experience. These are items that would be of value to a competitor to build on. To determine value, consider the cost of growing a legitimate competitor in your dominant market from scratch, including technology and overhead.
Client relationships – what directly impacts customer relationships, and therefore revenue. This includes “availability” impacts from outages, SLAs, etc. Value determination will likely be your annual EBIT goal, and impact could be adjusted by a Single Loss Exposure.
Third-party partnerships – relating to your ability to initiate, maintain or grow partner networks, such as contractors, ISPs or other providers. When valuing, consider the employee labor cost needed to recruit and maintain those partners.
Financial performance – items that impact your company’s ability to achieve financial goals. Again, valuation might equate to annual EBIT.
Employee relations – the assets that impact your ability to recruit and retain employees. Valuation should consider the volume of potential losses and associated backfill needs, including base salaries, bonuses, benefit equivalencies, etc.
Determine relevant threats, assess vulnerability, and identify exposures
When it comes to analyzing risk from threats, vulnerabilities and exposures, start with the common security triad model for information security. The three pillars – Confidentiality, Integrity and Availability (CIA) – help guide and focus security teams as they assess the different ways to address each concern.
Confidentiality touches on data security and privacy; it entails not only keeping data safe, but also making sure only those who need access, have it.
Integrity reflects the need to make sure data is trustworthy and tamper-free. While data accuracy can be compromised by simple mistakes, what the security team is more concerned with is intentional compromise that’s designed to harm the organization.
Availability is just what it sounds like – making sure that information can be accessed where and when needed. Availability is an aspect of the triad where security teams need to coordinate closely with IT on backup, redundancy, failover, etc. That said, it also involves everything from secure remote access to timely patches and updates to preventing acts of sabotage like denial of service or ransomware attacks.
In undertaking this part of the risk assessment, you’re using this security triad to determine threats, and then identifying exposure and assessing vulnerability to better estimate both the potential impact and probability of occurrence. Once these determinations are made, you’re ready for the next step.
Define risk
AV = assigned Asset Value (quantitative/qualitative) as identified above. EF = the Exposure Factor, a subjective assessment of the potential percentage loss to the asset if a specific threat is realized. For example, an asset may be degraded by half, giving an EF of 0.50.
From this we can calculate the Single Loss Expectancy (SLE) – the monetary value from one-time risk to an asset – by multiplying AV and EF. As an example, if the asset value is $1M, and the exposure factor from a threat is a 50% loss (0.50) then the SLE will be $500,000.
Risk definition also takes this one step further by using this SLE and multiplying it by a potential Annualized Rate of Occurrence (ARO) to come up with the Annualized Loss Expectancy (ALE). This helps us understand the potential risk over time.
When working through these figures, it’s important to recognize that potential loss and probability of occurrence are hard to define, and thus the potential for error is high. That’s why I encourage keeping it simple and overestimating when valuing assets – the goal is to broadly assess the likelihood and impact of risk so that we can better focus resources, not to get the equations themselves perfectly accurate.
Implement and monitor safeguards (controls)
Now that we have a better handle on the organizational risks, the final steps are more familiar territory for many security teams: implementing and monitoring the necessary and appropriate controls.
You’re likely already very familiar with these controls. They are the countermeasures – policies, procedures, plans, devices, etc. – to mitigate risk.
Controls fall into three categories: preventative (before an event), detective (during) and corrective (after). The goal is to try to stop an event before it happens, quickly react once it does, and efficiently get the organization back on its feet afterward.
Implementing and monitoring controls are where the rubber hits the road from a security standpoint. And that’s the whole point of the risk analysis, so that security professionals can best focus efforts where and how appropriate to mitigate overall organizational risk.
“By implementing sound #management of our #risks and the threats and opportunities that flow from them we will be in a stronger position to deliver our organisational objectives, provide improved services to the community, achieve better value for money and demonstrate compliance with the Local Audit and Accounts Regulations. #Riskmanagement will therefore be at the heart of our good management practice and corporate governance arrangements.”
Third-party risk assessments are often described as time-consuming, repetitive, overwhelming, and outdated. Think about it: organizations, on average, have over 5,000 third parties, meaning they may feel the need to conduct over 5,000 risk assessments. In the old school method, that’s 5,000 redundant questionnaires. 5,000 long-winded Excel sheets. No wonder they feel this way.
The reason why risk assessments have become so dreaded is that it has always been a process of individual inspection and evaluation. For perspective, that’s roughly 14 risk assessments completed per day in the span of one year. How can we expect security, risk, and procurement professionals to get any other work done with this type of task on their plate? With the state of today’s threat landscape, wouldn’t you rather your security team be focused on actual analysis and mitigation, rather than just assessing? And, not to mention the fact that a tedious risk assessment process will contribute to burnout that can lead to poor employee retention within your security team. With how the cybersecurity job market is looking now, this isn’t a position any organization wants to be in.
So, now that you know how the people actually with their ‘hands in the pot’ feel about risk assessments, let’s take a look at why this approach is flawed and what organizations can do to build a better risk assessment process.
The never-ending risk assessment carousel ride
The key to defeating cybercriminals is to be vigilant and proactive. Not much can be done when you’re reacting to a security incident as the damage is already done. Unfortunately, the current approach to risk management is reactive, and full of gaps that do not provide an accurate view into overall risk levels. How so? Current processes only measure a point-in-time and do not account for the period while the assessment is being completed–or any breaches that occurred after the assessment was submitted. In other words, assessments will need to be routinely refilled out, a never-ending carousel ride, which is not feasible.
It should come to no surprise that assessments are not updated nearly as much as they should be, and that’s to no one’s fault. No one has the time to continually fill out long, redundant Excel sheets. And, not to mention, unless the data collected is standardized, very little can be done with it from an analysis point of view. As a result, assessments are basically thrown in a drawer and never see the light of day.
Every time a third-party breach occurs there is a groundswell of concern and company executives and board members immediately turn to their security team to order risk assessments, sending them on a wild goose chase. What they don’t realize is that ordering assessments after a third-party breach has occurred is already too late. And the organizations that are chosen for a deeper assessment are most likely not the ones with the highest risk. Like a never-ending carousel ride, the chase for risk assessments will never stop unless you hop off the ride now.
Show me the data!
The secret ingredient for developing a better risk management collection process is standardized data. You can’t make bread without flour, and you can’t have a robust risk management program without standardized data. Standardized data is the process of gathering data in a common format, making it easier to conduct an analysis and determine necessary next steps. Think of it this way, if you were looking at a chart comparing student test grades and they were all listed in various formats (0.75, 68%, 3/16, etc.), you would have a difficult time comparing these data points. However, if all the data is listed in percentages (80%, 67%, 92%, etc.), you could easily identify who is failing and needs more support in the classroom. This is the way using standardized data in the risk assessment process works. All data collected from assessments would be in the same format and you can understand which third parties are high risk and require prioritized mitigation.
CISOs who are still focused on point-in-time assessments are not getting it right. Organizations need to understand that risk assessment collection alone does not in fact equal reduced risk. While risk assessments are important, what you do with the risk assessment after it is complete is what really matters. Use it as a catalyst to create a larger, more contextual risk profile. Integrate threat intelligence, security ratings, machine learning, and other data sources and you’ll find yourself with all the data and insights you need and more to proactively reduce risk. You’ll be armed with the necessary information to mitigate risk and implement controls before the breach occurs, not the rushed patchwork after. A data-driven approach to third-party risk assessment will provide a more robust picture of risk and put an end to chasing assessments once and for all.
The purpose of this document is to define the methodology for assessment and treatment of information risks, and to define the acceptable level of risk.
The document is optimized for small and medium-sized organizations – we believe that overly complex and lengthy documents are just overkill for you.
There are 3 appendices related to this document. The appendices are not included in the price of this document and can be purchased separately
The purpose of this table is to list all information resources, vulnerabilities and threats, and assess the level of risk. The table includes catalogues of vulnerabilities and threats.
The document is optimized for small and medium-sized organizations – we believe that overly complex and lengthy documents are just overkill for you.
This document is an appendix. The main document is not included in the price of this document and can be purchased separately
The purpose of this table is to determine options for the treatment of risks and appropriate controls for unacceptable risks. This table includes a catalogue of options for treatment of risks as well as a catalogue of 114 controls prescribed by ISO 27001.
The document is optimized for small and medium-sized organizations – we believe that overly complex and lengthy documents are just overkill for you.
This document is an appendix. The main document is not included in the price of this document and can be purchased separately
The purpose of this document is to define which controls are appropriate to be implemented in the organization, what are the objectives of these controls, how they are implemented, as well as to approve residual risks and formally approve the implementation of the said controls.
The document is optimized for small and medium-sized organizations – we believe that overly complex and lengthy documents are just overkill for you.
The purpose of this document is to determine precisely who is responsible for the implementation of controls, in which time frame, with what budget, etc.
The document is optimized for small and medium-sized organizations – we believe that overly complex and lengthy documents are just overkill for you.
Data security issues, continuous data breaches, and advanced cyber-criminal activity make it harder for businesses to stay updated with the latest strategy to keep their accounts and customer data protected.
We continue to see companies small or large being targeted by cybercriminals, according to Nexor, the UK experienced a 31% rise in cyber-attacks during the height of the pandemic in May and June 2020.
Cybercrimes from malware, insider threats, and stolen data to hacked systems will always be a threat so how can companies ensure they are prepared for security risks as technology and cyber criminals continue to advance? We take a look at the top 3 data security risks business are facing.
1) Lack of resources to deter cyber threats
Hackers and companies are aware of issues concerning IT infrastructures and computer systems, but it is the responsibility of the business to ensure systems are guarded and secure from unauthorised access and that they are not vulnerable to cybercriminal threats through unsecure internal networks and software.
As the pressure for cyber professionals rises, panic in business also increases as there is a shortage of IT security professionals with skills in IT and cyber security. The ISC 2021 Cybersecurity Workforce Study states that the global cybersecurity skills shortage has fallen for the second consecutive year, but the size of the workforce is still 65% below what it needs to be. CEO, Clar Rosso at ISC shares her thoughts:
“Any increase in the global supply of cybersecurity professionals is encouraging, but let’s be realistic about what we still need and the urgency of the task before us…The study tells us where talent is needed most and that traditional hiring practices are insufficient. We must put people before technology, invest in their development, and embrace remote work as an opportunity. And perhaps most importantly, organizations must adopt meaningful diversity, equity, and inclusion practices to meet employee expectations and close the gap.”
A UK government report published last year found that 48% of organisations lacked the expertise to complete routine cyber security practices, and 30% of organisations had skills gaps in more advanced areas, such as penetration testing, forensic analysis, and security architecture.
With a high demand for security professionals and a shortage in skills, could cyber criminals be a few steps ahead?
Many businesses, especially most small businesses lack the capability and expertise to withstand a cyber security attack. Finding the right talent and investing in the skills can be a challenge, but there are consultants that specialise in working with various types of businesses that can add value and help place the right data protection strategies and provide businesses with the best tools and training.
Guard Wisely are independent data security specialists that are trusted by organisations to solve their biggest compliance, security, operations, and BAU challenges. They have delivered many successful security projects to a large variety of Enterprise Customers Globally and over 180,000 employees.
2) Technology continues to accelerate
The pandemic fast-forwarded the need for digitalisation, and the sudden change to remote working meant that more data was being shared across unsecure cloud environments, kept on networks and employee desktops. This meant an increased risk for businesses as they figured out how to maintain data security in a hybrid work environment.
We have seen that everything and everyone is connecting through the Internet, and wireless capabilities are bringing innovation to all areas of business and general life at unprecedented speed.
With remote and hybrid working being a part of the future of work, data needs to be regularly monitored and controlled. Large enterprises need to manage their customers’ and employees’ data to remain compliant, to do this they need to understand where that data resides to secure it.
Across the world, there are now nearly two billion internet users and over five billion mobile phone connections; every day, we send 294 billion emails and five billion SMS messages; every minute, we post 35 hours of video to YouTube, 3,000 photos to Flickr and nearly 35,000 ‘tweets’ according to this report .
Over 91 percent of UK businesses and 73 percent of UK households have internet access and £47.2 billion was spent online in the UK alone in 2009.
The issue arises for data security as the embedded operating system in any device is deployed in its firmware, and these operating systems are rarely designed with security as their prime focus. This means that many systems have flaws and vulnerabilities, which is a gateway for many hackers and cybercriminals.
3) Weak passwords encourage cyber-attacks and “insider breaches”
With so many passwords to remember for a variety of devices, sites, and networks, we will continue to see a security risk in passwords. In most cases, hackers do not find it difficult to figure out corporate passwords and, employee passwords tend to be easier to work out.
Not only this, but once you know the password for a device, you’ll most likely be able to have access to other accounts. People tend to keep the same password across many of the accounts they hold, for the ease of remembering but this as much as we know it, is a security issue that needs to be addressed.
Unsecure passwords could increase ‘insider’ breaches at the workplace. Organisations often overlook the threats residing inside their ecosystems which can have devastating effects. These companies, although they are aware of threats don’t usually have an insider threat program in place, and are therefore not prepared to prevent, detect, and respond to internal threats.
Having access to anyone’s computers or devices at work can mean that systems will be at a higher risk of attack from insider threats. Hackers are always looking for opportunities to steal passwords and break them into private and corporate accounts.
To minimise these risks, companies must evaluate and introduce measures to ensure access to certain files and folders is in place. They will have to make sure individuals have unique passwords to enter their computers so that other people cannot access or abuse computer activity.
Tracking which files and folders are being used and accessed on individual machines will also be beneficial in a lot of cases. As a short-term fix, they can also ensure they turn on two-factor authentication (2FA), also known as multi-factor authentication where possible for important accounts, as a secondary method of authentication.
The following conversation about reviewing a SOC 2 report is one to avoid.
Potential Customer: “Hi Vendor Co., do you have a SOC 2?”
Vendor Co. Sales Rep: “Yes!”
Potential Customer: “Great! We can’t wait to start using your service.”
The output of a SOC 2 audit isn’t just a stamp of approval (or disapproval). Even companies that have amazing cybersecurity and compliance programs have a full SOC 2 report written about them by their auditor that details their cybersecurity program. SOC 2 reports facilitate vendor management by creating one deliverable that can be given to customers (and potential customers) to review and incorporate into their own vendor management programs.
Vendor security management is an important part of a company’s cybersecurity program. Most mature organizations’ process of vendor selection includes a vendor security review – a key part of which includes the review of a SOC 2 report.
SOC 2 reports can vary greatly in length but even the most basic SOC 2 report is dense with information that can be difficult to digest, especially if you aren’t used to reading them. This article will teach you how to read a SOC 2 report by providing a breakdown of the report’s content, with emphasis on how to pull out the important parts to look at from a vendor security review perspective.
Please note that you should not use this as a guide to hunt and peck your way through a SOC 2 report. It is important to read through the entire report to gain a full understanding of the system itself. However, this should help draw attention to the particular points of interest you should be looking out for when reading a report.
Many different auditing firms perform SOC 2 audits, some reports may look a little different from the others but the overall content is generally the same.
How to read a SOC 2 report: the Cover Page
Even the cover page of a SOC 2 report has a lot of useful information. It will have the type of SOC 2 report, date(s) covered, the relevant trust services criteria (TSC) categories, and the auditing firm that conducted the audit.
What Type of SOC 2 Report?
There are two types of SOC 2 reports that can be issued: A SOC 2 Type I and a SOC 2 Type II. The type of report will be denoted on the cover page. The key difference is the timeframe of the report:
A SOC 2 Type I is an attestation that the company complied with the SOC 2 criteria at a specific point in time.
A SOC 2 Type II is an attestation that the company complied with the SOC 2 criteria over a period of time, most commonly a 6 or 12 month period.
SOC 2 Type II reports are more valuable because they demonstrate a long-term commitment to a security program – and any issues over the time frame will be revealed. It’s possible for a company to get a SOC 2 Type I report then fail to adhere to their controls.
Key takeaway: If a company only has a SOC 2 Type I, ask if and when they are working on achieving a SOC 2 Type II. If they say they are not getting a Type II, this is indicative of a lower commitment to security.
Information risk management is the process of identifying the ways an organisation can be affected by a disruptive incident and how it can limit the damage.
It encompasses any scenario in which the confidentiality, integrity and availability of data is compromised.
As such, it’s not just cyber attacks that you should be worried about. Information risk management also includes threats within your organisation – such as negligent or malicious employees – as well as residual risks.
For example, the framework can help you address misconfigured databases, software vulnerabilities and poor security practices at third parties.
In this blog, we take a closer look at the way information risk management works and how organisations can use its guidance to bolster their security defences.
Why is information risk management important?
In the face of ever-growing cyber threats, it can be difficult for an organisation to protect its information assets.
Last year, the World Economic Forum listed cyber crime alongside COVID-19, climate change and the debt crisis as the biggest threats facing society in the next decade. It’s clear, then, that organisations need a plan for identifying and addressing security risks.
With an information risk management system, organisations gain a better understanding of where their information assets are, how to protect them and how to respond when a breach occurs.
One way it does this is by forcing organisations to not only identify but also assess their risks. This ensures that organisations prioritise scenarios that are most likely to occur or that will cause the most damage, enabling them to make informed decisions in line with their security budget.
How risk management works
To understand how risk management programmes work, we need to take a closer look at what ‘risk’ actually is.
In an information security context, risk can be defined as the combination of a vulnerability and a threat.
As we’ve previous discussed, a vulnerability is a known flaw that can be exploited to compromise sensitive information.
These are often related to software flaws and the ways that criminal hackers can exploit them to perform tasks that they weren’t intended for.
They can also include physical vulnerabilities, such as inherent human weaknesses, such as our susceptibility to phishing scams or the likelihood that we’ll misplace a sensitive file.
This is different from a threat, which is defined as the actions that result in information being compromised.
So, to use the examples above, threats include a criminal hacker exploiting a software flaw or duping an employee with a bogus email.
When a threat meets a vulnerability, you get a risk. In the case of the criminal hacker phishing an employee, the risk is that the attacker will gain access to the employee’s work account and steal sensitive information. This can result in financial losses, loss of privacy, reputational damage and regulatory action.
A risk management system helps organisations identify the ways in which vulnerabilities, threats and risks intertwine. More importantly, it gives organisations the ability to determine which risks must be prioritised and identify which controls are best equipped to mitigate the risk.
Start protecting your business
At the heart of risk management is the risk assessment. This is the process where threats and vulnerabilities are identified. Organisations can use the result of the assessment to plan their next moves.
With vsRisk, you’ll receive simple tools that are specifically designed to tackle each part of the risk assessment.
This software package is:
Easy to use. The process is as simple as selecting some options and clicking a few buttons.
Able to generate audit reports. Documents such as the Statement of Applicability and risk treatment plan can be exported, edited and shared across the business and with auditors.
Geared for repeatability. The assessment process is delivered consistently year after year (or whenever circumstances change).
Streamlined and accurate. Drastically reduces the chance of human error.
This books explains how to introduce the security into the SDLC; how to introduce abuse cases and security requirements in the requirements phase; and how to introduce risk analysis (also known as Threat Modeling) in the design phase and software qualification phase. I really think that each software developer should at least read the first chapter of the book where the authors explain why the old way of securing applications (seeing software applications as “black boxes” that can be protected using firewalls and IDS/IPS) cannot work anymore in today’s software landscape.
Jack draws on years of experience introducing quantified risk analysis to organizations like yours, to write An Adoption Guide For FAIR. In this free eBook, he’ll show you how to:
Lay the foundation for a change in thinking about risk
Plan an adoption program that suits your organization’s style.
Identify stakeholders and key allies for socialization of FAIR
Select and achieve an initial objective, then integrate business-aligned, risk-based practices across your organization.
The US CISA has released a new tool that allows to assess the level of exposure of organizations to insider threats and devise their own defense plans against such risks.
The US Cybersecurity and Infrastructure Security Agency (CISA) has released the Insider Risk Mitigation Self-Assessment Tool, a new tool that allows organizations to assess their level of exposure to insider threats.
Insider threats pose a severe risk to organizations, the attacks are carried out by current or former employees, contractors, or others with inside knowledge, for this reason they are not easy to detect.
An attack from insiders could compromise sensitive information, cause economic losses, damages the reputation of the organization, theft of intellectual property, reduction of market share, and even physical harm to people.
The tool elaborates the answers of the organizations to a survey about their implementations of a risk program management for insider threats.
“The Cybersecurity and Infrastructure Security Agency (CISA) released an Insider Risk Mitigation Self-Assessment Tool today, which assists public and private sector organizations in assessing their vulnerability to an insider threat. By answering a series of questions, users receive feedback they can use to gauge their risk posture. The tool will also help users further understand the nature of insider threats and take steps to create their own prevention and mitigation programs.” reads the announcement published by CISA.
Cybersecurity Awareness Month 2021 Toolkit: Key messaging, articles, social media, and more to promote Cybersecurity Awareness Month 2021
Held every October, Cybersecurity Awareness Month is a collaborative effort between government and industry to ensure every American has the resources they need to stay safe and secure online while increasing the resilience of the Nation against cyber threats. The Cybersecurity and Infrastructure Security Agency (CISA) and the National Cyber Security Alliance (NCSA) co-lead Cybersecurity Awareness Month.
In the first part of my blog post I focused on calculating the impact of a cybersecurity breach in relation to a company’s size and industry. In part two, I present an approach to better understand how often a company will experience security breaches.
The probability is usually the big unknown. Not particularly helpful is that our abilities to estimate a probability are inferior to our abilities to estimate damage. In addition, we must consider a range of limitations to our abilities to estimate. We don’t estimate well in magnitudes very small or large. Once in 1,000 years and once in 10,000 years is harder to differentiate than once per year and once in 10 years. Also, we tend to overestimate the probability of recently occurred incidents.
The great uncertainty drives risk practitioners to reduce their risk assessments to pure impact assessments (“Estimations of probability can only be wrong!”). However, we can use what is out there on data and make comparisons.
The lingering question of application code security follows, as stories of security breaches continue to pour, and remote teams across the world adopt low code for faster application delivery. Even as Gartner predicts that 65% of applications will be built using the low-code paradigm by 2024, it is important to understand the security implications that come with it and discuss how we can mitigate possible risks.
Most low code platforms enable non-technical users to build applications quickly and offer in-built security for various aspects of the application, such as APIs, data access, web front-ends, deployment, etc. Some go deeper with functionalities purpose-built for professional developers, with abilities to customize at a platform level. That said, no platform can claim to be the silver bullet when it comes to abstracting all security risks.
Business leaders should assess both internal and external risks that arise, and make sure there are certain guard rails enforced to secure low code-built applications. Let’s discuss some of these in detail.
The Enterprise Risk Management Program (ERMP) Guide provides program-level risk management guidance that directly supports your organization’s policies and standardizes the management of cybersecurity risk and also provides access to an editable Microsoft Word document template that can be utilized for baselining your organizations risk management practices. Unfortunately, most companies lack a coherent approach to managing risks across the enterprise:When you look at getting audit ready, your policies and standards only cover the “why?” and “what?” questions of an audit. This product addresses the “how” questions for how your company manages risk.
The ERMP provides clear, concise documentation that provides a “paint by numbers” approach to how your organization manages risk.The ERMP addresses fundamental needs when it comes to what is expected in cybersecurity risk management, how risk is defined, who can accept risk, how risk is calculated by defining potential impact and likelihood, necessary steps to reduce risk.Just as Human Resources publishes an “employee handbook” to let employees know what is expected for employees from an HR perspective, the ERMP does this from a cybersecurity risk management perspective.Regardless if your cybersecurity program aligns with NIST, ISO, or another framework, the Enterprise Risk Management Program (ERMP) is designed to address the strategic, operational and tactical components of IT security risk management for any organization.
Policies & standards are absolutely necessary to an organization, but they fail to describe HOW risk is actually managed. The ERMP provides this middle ground between high-level policies and the actual procedures of how risk is managed on a day-to-day basis by those individual contributors who execute risk-based controls.
Risk-based vulnerability management doesn’t ask “How do we fix everything?” It merely asks, “What do we actually need to fix?” A series of research reports from the Cyentia Institute have answered that question in a number of ways, finding for example, that attackers are more likely to develop exploits for some vulnerabilities than others.
Research has shown that, on average, about 5 percent of vulnerabilities actually pose a serious security risk. Common triage strategies, like patching every vulnerability with a CVSS score above 7 were, in fact, no better than chance at reducing risk.
But now we can say that companies using RBVM programs are patching a higher percentage of their high-risk vulnerabilities. That means they are doing more, and there’s less wasted effort. (Which is especially good because patch management is resource constrained.)
The time it took companies to patch half of their high-risk vulnerabilities was 158 days in 2019. This year, it was 27 days.
And then there is another measure of success. Companies start vulnerability management programs with massive backlogs of vulnerabilities, and the number of vulnerabilities only grows each year. Last year, about two-thirds of companies using a risk-based system reduced their vulnerability debt or were at least treading water. This year, that number rose to 71 percent.
When a company discloses that their networks have been breached and that their data has been stolen or encrypted for ransom, there is a steady drumbeat of critics. The company, these critics contend, is somehow at fault. Its security team didn’t do EVERYTHING it could have to prevent the breach. The proof of this doesn’t lie in knowledge of what preventative steps the security team did, but in the fact that it got breached. Victim blaming was alive and well in cybersecurity.
Thankfully, this mindset is fading away. But when cybersecurity companies with risk-based approaches began entering the market, they faced headwinds from the security nihilism crowd who thought if you can’t fix everything, then “why bother?”
We can now say that, when it comes to vulnerability management – a complex, yet fundamental cybersecurity discipline – the risk-based approach has produced clear results. The proof is in the data.
Enterprises that use risk-based approaches to vulnerability management are getting faster and smarter at this foundational cybersecurity discipline. They are doing less work and seeing more impactful security improvements. It’s encouraging to see these year-over-year improvements and we believe this trend is likely to continue.
Guardicore unveiled new zero trust assessment capabilities in Infection Monkey, its open source breach and attack simulation tool. Available immediately, security professionals will now be able to conduct zero trust assessments of AWS environments to help identify the potential gaps in an organization’s AWS security posture that can put data at risk.
Infection Monkey helps IT security teams assess their organization’s resiliency to unauthorized lateral movement both on-premises and in the cloud.
The tool enables organizations to see the network through the eyes of a knowledgeable attacker – highlighting the exploits, vulnerabilities and pathways they’re most likely to exploit in your environment.
Zero trust maturity assessment in AWS
New integrations with Scout Suite, an open source multi-cloud security auditing tool, enable Infection Monkey to run zero trust assessments of AWS environments.
Infection Monkey highlights the potential security issues and risks in cloud infrastructure, identifying the potential gaps in AWS security posture. It presents actionable recommendations and risks within the context of the zero trust framework’s key components established by Forrester.
Expanded MITRE ATT&CK techniques
Infection Monkey applies the latest MITRE ATT&CK techniques to its simulations to help organizations harden their systems against the latest threats and attack techniques. The four newest ATT&CK techniques the software can equip are:
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