Page 43 - Cyber Defense eMagazine June 2020 Edition

• The risk that critical information becomes unavailable

• The risk that critical information is changed without authorization

Associated with risk is cost. Security incidents cost money. So does preventing them. The cost, for
example, of a computer virus is the loss in productivity of an organization’s personnel plus the time and
expense for IT personnel to remove the virus and restore availability. The cost of a theft of a trade secret
by a cyber-thief is the value of the trade secret. Implementing security also has costs. Firewalls and other
security technology take capital away from other uses. Information security personnel come at the
expense of personnel who can directly more contribute to the bottom line. And every hour management
spends in a security meeting, or personnel spend on security awareness training, is an hour that could
otherwise also contribute to the bottom line.

Requirements for an Information Security Management Program

The drivers behind an organization’s information security management program are the evolving
landscape of laws, regulations, and competition, as well as evolving information security “best effective”
practices. Organizations that hold personal, financial or health information of others are required to
adhere to various federal and state laws and regulations. These include

• HIPAA (electronic protected health information)

• Sarbanes-Oxley

• GDPR – General Data Protection Regulation

Organizations may also have various contractual requirements for information or data security. Credit
card processors, for example, must conform to the Payment Card Industry Data Security Standard.

As organizations come to more deeply understand the competitive value of the information stored in their
computer networks and the need to make that information securely available anytime and anywhere,
they discern the need for a formal information security management program to assure that information
is kept confidential, available, and correct.

As organizations have increasing needs to share information with suppliers, customers, and other
business relations they are increasingly becoming concerned with the information security capabilities of
these third parties.

An organization’s information security management program must be built upon current and emerging
information security “effective best-practices.” As the information security industry has evolved, the
industry has tended to settle on three distinct models as to what constitutes a set of “effective best-
practices” for managing the security of information:

• ISO-27001 Specification for an Information Security Management System

• ISO-27002: Code of Practice for Information Security Management

Cyber Defense eMagazine –June 2020 Edition 43
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