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An Effective Ways Of Cyber Security Risk Management

By Author: Lou Rabon
Total Articles: 1

Incident response is an act of addressing a security breach and to handle the situation in a way that limits damage and reduces recovery time and costs. This approach is conducted by the computer incident response team in addition to security and public relations departments.

Six Ways to Handle an Incident:

Preparation
Identification
Containment
Eradication
Recovery
Lessons learned

PCI compliant stores process and transmits cardholder data like other compliances. The PCI Data Security Standard (DSS) can be complex and difficult to manage in an organisation. Services and technologies of all sizes cover every aspect of compliance mainly to achieve and to maintain compliance to navigate the process.

Enhancing Cyber Security Management:

Risk management is the only approach that is available to enhance cybersecurity in an effective and efficient manner. This approach enables an organization to prioritize its cyber security program which is a part of enterprise risk management (ERM) program. The main action to be done first is forming a prioritized strategy as below for an organisation:

Prioritize your day-to-day response and actions.
Link your efforts to your risk-mitigation strategy.
Measure your organization's response.
Measure the effectiveness of the results of its activities.
Measure the cybersecurity risk in your supply chain risk.

Activities that are involved in ensuring a process is predictable, stable, and consistently operating at the level of performance that is to be achieved with moderate variations. IT Managed Security Services (MSS) are also well known as network security services that have been outsourced to a service provider. A company that provides managed security services are called as managed security service provider (MSSP).

A Function of A MSP Includes:

Monitoring the clock
Management of IDS and firewalls
Overseeing patch management
Performing security assessments with security audits
Immediate response.

Products available from a number of vendors that helps to divert the burden of performing the chores manually and which can be considerable and away from administrators. Information Security Services shortened to InfoSec is the practice of preventing unauthorized access, disclosure, disruption, modification, inspection, recording or destruction of information. The common term that can be used regardless of the form the data may take is information security. e.g. physical, electronic. Possible responses to a security threat or risk are:

Accept – This approach evaluate if cost of countermeasure outweighs the possible cost of loss due to threat
Ignore/Reject – It is done when there is no valid or prudent due-care response
Reduce/Mitigate – Which implement safeguards and countermeasures to eliminate vulnerabilities and block threats
Assign/Transfer – It place the cost of the threat onto another entity or organization such as purchasing insurance or outsourcing

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