ITC596 IT Risk Management : Gigantic Corporation

Answer

Statement of the technology project

Outline of the company- Gigantic Corporation

Gigantic Corporation is an information and technology organization which provides telecommunication services to their consumers and it also develops many software and hardware. This organization is facing various IT risks like security threats, data breach and other cyber-crimes.

Role and responsibility

Gigantic Corporation is an information and communication organization and in which I am IT risk lead consultant. The main role of an IT consultant in the field of a computer network is to maintain risks and threats of any information security and improve security systems by which users can secure their private information.

Technology used in company

Gigantic Corporation uses various kinds of information technologies, for example, the Internet of thing, wireless networks, cloud computing, network protocols, and information technologies (Chakhchoukh & Ishii, 2015). With the help of these entire technologies, the gigantic corporation provides communication services to many companies and consumers.

Overview of your recommendations

Lack of security is the very common problem for the gigantic organization and it is observed that many consumers use a simple password-based system and hackers can easily block their peripheral devices by using a complex algorithm process. This report is divided into two parts such as potential threats of cybersecurity and prevention methods to reduce IT risk for a gigantic corporation. This organization can adopt security architecture or steps to reduce various problems and risk such as password-based systems, use of antivirus and firewall, control and monitor unwanted traffic signals, detect spam emails and messages by encryption method and cryptography process.

Risk assessment based on threats, vulnerabilities and consequences

Cyber threats are defined as circumstance with the potential to cause harm and it is very harmful to human-computer systems. There are many examples of cyber threats such as flooding process for data systems, an administrator accidentally wiping a production process, political activities of DDOS attacks (Cherdantseva, et al., 2016) Attackers produce various malware and botnet by which they can enter into gigantic websites and block their authentic servers. Vulnerabilities mean weakness in a computer system and the main drawback of the gigantic corporation is that it does not use any security policy and strategy by which they lost their privacy. SQL injection is the very common example of vulnerabilities and to reduce this problem SQL certificate has been developed (Deshmukh & Devadkar, 2015). There are many threats and risks of cyber security are detected which are describing below-

• Malware
• Ransom ware
• Phishing
• SQL injection attack
• Cross-site Scripting
• DOS attack
• Man in the middle attacks

Malware

Malware is a complex algorithm process which is used by attackers to hack data or information of any organization. Gigantic Corporation is facing from this problem and they can lose their private details. It is a type of software which detects detail of authentic servers and once malware enters into computer device then it can control and monitor communication systems and other activities (Isozaki et al., 2016) Aggressors will utilize an assortment of techniques to get malware into your PC, yet at some stage it regularly requires the client to make a move to introduce the malware. This can incorporate clicking a connection to download a record, or opening a connection that may look safe (like a Word report or PDF connection), however really has a malware installer covered up inside.

Phishing

The first step of an attacker is that they collect all required information like IP address, network protocols, type of server, and kind of security system. After that, they install malware and other hacking processes into computer systems and encrypt complete information of any organization. Gigantic Corporation received many spam e-mails by which hackers enter into the authorized server and after that, they demand money to restore their private data (Johnston, Warkentin, McBride, & Carter, 2016).

SQL is defined as a structured query language which is a part of programming language. The main objective of SQL is to provide communication between network devices and database systems. Gigantic Corporation uses various servers to store data and SQL is used to manage the data or information in their database (Liu, et al., 2017). SQL injection attack on a database of any organization with the help of various malicious source code and attackers can monitor their peripheral devices.

Cross-Site Scripting

It is a very common type of cyber-attack in which hacker's directly targeting websites of Gigantic Corporation and they use traffic signals and injected browser process rather than algorithm code that provides complete information of any organization. A standout amongst the most well-known ways an assailant can send a cross-site scripting assault is by infusing noxious code into a remark or a content that could naturally run. For instance, they could install a connection to a malevolent JavaScript in a remark on a blog (Kateb, Tushar, Assi, & Debbabi, 2018).

DOS attack

DOS refer as denial of service which is the most common type of attack and it uses flooding or botnet process to encrypt website of an organization. From last few years, the gigantic organization is suffering from DDOS and DOS attack and it is observed that this occurs due to lack of security. In which hackers design flooding messages and unwanted traffic signals and an organization do not handle more traffic due to this problem they can lose privacy as well as personal details like login id and password and account details. n a few occurrences, these DoS assaults are performed by numerous PCs in the meantime. This situation of assault is known as a Distributed Denial-of-Service Attack (DDoS). This sort of assault can be much harder to defeat because of the aggressor showing up from a wide range of IP addresses the world over at the same time, making deciding the wellspring of the assault significantly more troublesome for arranging overseers.

Man in middle attacks

In this type of attack, hackers detect login ID and password of an account with the help of the injection process. In this modern technology, consumers use wireless technology for communication purpose and attackers can easily block their servers due to which the rate of unauthorized has increased. Active eavesdropping is a very best example of this attack and in which hackers develop independent interconnection with the victims and transfer messages between consumers (Memon, & Kauhaniemi, 2015).

IT control framework

There are many communication technologies are developed by which users can share and receive data from long distance and Gigantic Company uses wireless communication process which is very less in security. Information and communication produced various kinds of policies and steps to reduce potential IT risks such as use proper security programmes, adopt biometric recognition methods, remove fraud e-mails and messages, use antivirus and firewall, and use limited login attempts (Min, Chai, & Han, 2015). Through these steps, we can improve the privacy of Gigantic Corporation. At that time pattern recognition is very best process by which consumers can improve their privacy and it is identified that hackers send spam emails to customers and produce unauthorized services.

Policy and procedure

Security policy is a type of process which is used to control the rate of cyber-crimes and threats. It is a primary method by which users can improve their security and Gigantic Corporation can adopt security steps and strategies which are described below:

Confidential data

Information is a very important key element of any organization and consumer. There are many examples of confidential data such as data from partners, patents, formulas, and modern technologies, and a list of consumers. This policy is developed to understand the problem of a data breach (Ntalampiras, 2015).

Protect personal and organization devices

When an employee in an organization utilizes their peripheral devices to access gigantic accounts then they also introduce various security risks (Abomhara & Koien, 2015). The organization can provide a platform where employees can understand the role of security and safe their digital devices. There are few steps can be used for the gigantic organization such as

• Use a password-based system
• Use antivirus software
• Adopt biometric systems
• Ensure that users do not leave their computer systems unattended
• Keep updating their software on a regular basis
• Limited login attempts
• Login organization e-mails and accounts into authentic servers.
• Employees of gigantic access their personal details and accounts into their computer devices rather than other.

Keep emails safe

Numbers of hackers attack digital devices of organization with the help of e-mails and they send spam emails to user’s accounts. The gigantic organization can develop instruction for employees to secure their emails and messages and a few steps can be used like-

• Reduce opening attachments and avoid the use of fraud links or unauthorized servers
• Be suspicious of clickbait titles
• Check emails and delete spam emails and various unwanted offers
• Look for inconsistencies (Abomhara & Koien, 2015).

Manage passwords properly

Hacker’s uses flooding and malware software by which they can detect login ID and password, so users can use biometric recognition process which is more secure. Gigantic Corporation can adopt fingerprint and iris technology which can secure consumers private details. There are the following procedure can be used for this organization such as

• Chose string passwords rather than simple
• Remember the password of their device as compared to writing in a notebook or mobile phones.
• Use limited access
• Change password of personal account every two months
• Exchange credentials only when absolutely necessary

Transfer data securely

• Use encryption method for communication purpose
• Adopt encoding and decoding method and use digital communication rather than analog
• Avoid transferring sensitive data
• Use authentic Wi-Fi servers
• Produce annual report on data breach and scams and analysis problem of security (Abomhara & Koien, 2015).

Additional measures

• Turn off their system when leaving their desks
• Identify any unwanted signals and traffic
• Change all accounts password when system us stole
• Avoid accessing suspicious websites and servers

Key threat agents

It is defined as a process which is used to breach the security of any system and its uses exploiting method. Security threats are the very common problem for every intonation technology and it is observed that vulnerabilities can be avoided by adopting security programmes (Osho & Onoja, 2015).

                                                                         Figure 1: Threats agents

                                                                                (Source: Osho & Onoja, 2015, pp-14)

List of threat agents

There are the following type of threat agents which are increasing security risks and issues

• Nation states
• Corporation: partners and competitor
• Non-target specific: Bacteria, worms, logic, bombs, and viruses
• Employees: staff, consumers, guards, and operations clients
• Terrorists: Political, anarchists, and religious
• ESA: media, activist, vandals, the general public, extremists, and governments
• Organized crimes: gangs, Patricia, and international contacts
• Natural disasters: Fire, flood, wind, sand, and earthquake (Quigley, Burns, & Stallard, 2015).

                                                           Figure 2: Threat agent’s process

                                                              (Source: Quigley, Burns, & Stallard, 2015, pp-110)

Issues

Data breach is the main issue for an organization and it is identified that around 60% of attacks are completed by internal factors like the staff, employees, and guards. Hackers first detect the location of any access and after that, they monitor the complete process to hack personal data (Abomhara, & Køien, 2015). In which they faced the problem of authentication and if any organization use authorized server than it is very difficult to encrypt their systems.

Consequences

A huge cyber-attack causes damage to the business organization by affecting its bottom line, customer trust along with business standing. Following are the consequences of security breach such as:

Financial loss: The security breach or cyber-attacks cause financial loss by theft of business information, financial information such as bank and payment details. There is also theft of money and disruption of trading (Safa, Von, & Furnell, 2016).

Reputational damage: The trust is required element into the customer relationship. The cyber-attacks can cause damage to the business reputations, affects the relationships, third party visitors as well as investors. The gigantic corporation can lose their business value into the market.

Legal consequences: The data protection in addition to data privacy is required to manage the security of the personal data of both staffs and also customers (Kateb et al., 2018). When the data is compromised, then the organization is failed to deploy with security measures, and also regulatory sanctions.

Mitigation of risks and their impact on the system

Cyber- crimes and security threats can impact on organization behaviour and business. It is investigated that this can affect the business standing ratio, consumer trust, and also impact the bottom line. Through which users can be lost their personal details like login ID and passwords, account details, and information. If Gigantic Corporation does not adopt security plans and policies than it can face financial issues. Loss of sales, loss of customers, reduction in profit all these are common cause of cyber security threats (Abomhara & Koien, 2015).

Gigantic Corporation is a type of IT Company which provides information technologies to consumers and it is observed that technologies used in this organization are less secure.  The problem of security can be reduced by improving protection methods. Consumers should adopt biometric recognition system because fingerprint and irises both are very secure as compare to the password-based system. The organization should make their security guidelines and analysis threats and risks at the end of the week. People can use antivirus and firewall software to remove malicious and other flooding emails. Hackers share traffic signals into organization websites and use unauthorized servers so if users use only authentic websites and servers then they can avoid this type of problem.

Literature review

Security of information system is a very important process for an organization and it is very difficult to control and monitor cyber threats (Safa, Von, & Furnell, 2016). There are many authors that are already discussed the problem of cyber-attack and they identified that lack of security plan is a very common problem for any organization (Tweneboah, Skouby, & Tadayoni, 2017). The problem of cyber-security and threat is not new but it is growing very fast because users use simple password process and they click on unwanted links by which hackers can control their computer systems (Wu et al., 2016). Gigantic Corporation was suffered a ransomware attack in the last few years and employees use unauthentic websites by which attacks detect their account details (Abomhara & Koien, 2015).

Safeguards

1. When it is believed that the private data are compromised into the network, then the incidents are notified to the office of information technology by sending of email.
2. When it is noticed that the computer has some unusual behaviour, then there is required to run of antivirus software for checking for the update properly and when it was final updated (Chakhchoukh & Ishii, 2015).
3. There is required to implement of password security recommendations by selecting of strong password. The password should be selected using minimum of 8 characters with combinations of number, special characters and case letters. The password should be changed for every 90-360 days.
4. Email attachments are not opened from any unknown sources. Secure sockets layer protocol enable is required to send of email through use of provided accounts. It should be required to check for the addressee before sending any email to prevent from transmission of confidential data to wrong recipient (Kateb et al., 2018).
5. There is required to keep the operating system and also anti-virus software up-to-date. IT provider is contacted to set the computer for receiving of automatic updates to deliver extra layers of security functions.

Security mechanisms

There are many prevention methods and mechanisms are developed by information and technology which are explained below:

• Access control: It is selective restriction of access towards a data or a resource. There is required a permission to access to the resources which is termed as authorization.
• Identification and authentication process: There is required of user identification to security system and authentication is claimed that user identification is verified through user provided evidences (Kateb et al., 2018).
• Managing security programmes: Security programmes are done into the organization so that the system users and other employees can come to know about the security of the confidential information (Ntalampiras, 2015).
• Use of firewall software: This software is designed to prevent of unauthorized access to the network. The firewall is implemented in hardware or software form and with combinations of both. It prevents unauthorized internet users to access to the private network connected to the internet.
• Scanning and analysis tools and methods: The methods are used for the purpose of port scanning, password cracking and tool used are ARP spoofing, MAC flooding and others (Chakhchoukh & Ishii, 2015).
• Cryptography technology: This technique secures the communication in presence of the third party by use of secret keys to encrypt besides decrypt the data.
• Encryption method: It is a public key algorithm which is used to encrypt of data sent over the internet. Two keys are used such as public key is to encrypt the message and private key is to decrypt the message.
• Pattern recognition process: It is used to classify input data into the classes focused on the key features (Rid, & Buchanan, 2015).
• Biometric process: Verifications are done by evaluation of biological traits such as fingerprints, retina, voice waves, signatures, DNA and others.

Change in key principle of information by which employees can secure their information

Following are key principles of the information security which are required to be changed:

Confidentiality: There are change into this principles so that only authorized person can able to see the confidential information and no third party person can access to the information (Kateb et al., 2018).  

Integrity: There is change to the information by any unauthorized users are possible and change by the authorized users are being tracked.

Availability: There is change into principles where the information is accessible when authorized users can require it.

Conclusion

Cyber security provides many prevention steps and it also monitors the problem of security threats. Many consumers use wireless networks and gigantic Corporation is also using network protocols to communicate with others which are very less insecure. So, the internet of thing and digital communication both are very best methods for communication purpose and this organization can adopt this system. For a gigantic corporation, there are many policies and procedure established which are evaluated in this report. This report described various kinds of threats and vulnerabilities of cybersecurity and different policy are also explained by which gigantic organization can reduce the issue of security. Therefore, employees should log in company emails and account in authentic servers and websites and management team should use an encryption method to communicate with their clients. The problem of security can be avoided if consumers use strong password process like fingerprint or hand geometry because hackers can develop an unauthorized system which can detect passwords.

References

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