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Why is Data Security Important to You?
Data security rests upon three core principles: availability, confidentiality, and integrity.
If organizations fail to adhere to these elements, they could face dire repercussions later. Here are several main reasons to implement data security measures within an organization that handles both its own as well as customer data.
- Data security's main goal is to safeguard customer and business data.
- Cybercriminals may access customer data for malicious use, compromising customer privacy.
- Compliance with industry and government regulations is of utmost importance, as privacy regulations exist to safeguard consumer privacy.
- Data security is paramount to any organization, as any breach could expose it to fines, litigation costs and irreparable harm to its reputation.
- Unsecured data environments expose organizations to financial losses, decreased consumer trust and brand erosion - potentially costing businesses valuable business that they cannot regain through moving elsewhere or devaluing the brand altogether.
- Losing intellectual property or trade secrets through breaches can compromise an organization's future capacity for innovation.
Data Security Technologies
Nowadays, various data protection solutions technologies can offer protection from external and internal threats.
Organizations should use such technologies to secure their data against any possible breaches in access points and protect any potential vulnerabilities. Here are some techniques:
Data Encryption
Data encryption is a process that uses algorithms to convert every character of data into an unreadable form, so only authorized users have access to decrypting keys for deciphering it.
Encryption software will serve as the final line of defense if sensitive or confidential data becomes compromised and must be stored safely with restricted access.
Data encryption key may also include security key management capabilities.
Authentication
Authentication involves verifying or validating the login credentials of users to ensure they match with data stored in the database.
User credentials could include usernames and passwords as well as PINs, security tokens or swipe cards.
Authentication should serve as the first line of defense against unauthorized access to sensitive and confidential information.
Single sign-on technologies, multi-factor verification and password breach detection technologies all contribute to making authentication processes more secure while remaining convenient for users.
Data Masking
Protecting data by masking individual fields or specific data areas from outside sources who might use malicious or inappropriate means to gain access can be difficult.
Yet, masking provides one effective tool to secure it against this fate. PII data like phone numbers or emails within databases may need protection from externally accessible malicious users; using masking could provide such protection.
Proxy characters are used to obfuscate data characters. Data masking software only restores it to its original form when received by authorized users; data masking enables the development of applications that use actual data.
Tokenization
Tokenization works similarly to data encryption; however, its main difference lies in that tokenization replaces data with random characters instead of using an algorithm for advanced encryption standards.
A token refers back to original information stored safely within the database lookup table as opposed to being exposed directly through public access.
Data Erasure
Data that are no longer needed or active can be erased using software that permanently deletes it from a storage device.
Once erased, these records cannot be recovered later from any system backups or archived storage drives.
Data Resilience
An organization's data resilience can be measured by its ability to recover quickly after experiencing big data breaches or corruption, power outage, faulty hardware failure or even data loss.
Backing up their data allows data centers to recover after any disruptions quickly.
Physical Access Control
Unlike digital access control, physical access control involves restricting physical access to areas in which data is stored; for instance server rooms and data centers.
Physical access control systems are typically overseen by security personnel and include key cards, retina scanners, fingerprint recognition sensors and other biometric measures for controlling entry to these spaces.
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Best Practices for Data Security
An organization can take additional measures to ensure robust data management beyond using the technologies listed above.
- Internal and External Firewalls: Employing both internal and external firewalls will provide effective data protection from malware attacks and cybercriminal activities.
- Data Security: Policy It is crucial for organizations to create a data security policy that all employees understand.
- Data Backup: By regularly backing up all data, you can ensure your business stays uninterrupted in case of a data breach or hardware or software failure. In order to make sure backup copies are adequately insured against data loss, they should be subject to rigorous testing - using all of the same security protocols as primary systems.
- Data Security Risk Evaluations: Regular data security risk evaluations should be conducted to detect vulnerabilities and losses caused by breaches. Such assessments can reveal outdated software or misconfigurations that require to be corrected immediately.
- Quarantine sensitive documents: Any comprehensive data security program must provide for the classification and storage of sensitive documents in secure locations.
- File Activity Monitoring: Data Security Software should be capable of monitoring data usage patterns across all users to detect anomalies and potential risks early. In particular, over-permission may give users more access to data than necessary for their roles within an organization; data security software must have the ability to profile user behavior to match permissions with user actions.
- Application Security and Patching: Application security and patching refers to the practice of updating software as soon as new updates or patches become available.
- Training: Employees should receive ongoing instruction on best practices of data security, such as password usage, threat detection and social engineering. Knowledgeable employees are key in protecting company assets.
Data Security Laws and Regulations
Nations and regions across the globe are adopting data security laws and regulations at an increasing pace in order to safeguard personal information while guiding users and providing access for all.
Regulations also ensure that data providers are treated fairly while sharing is done according to legitimate means.
General Data Protection Regulation
In April 2016, the European Union passed the General Data Protection Regulation (GDPR), mandating that businesses and organizations that deal with the personal data of E.U.
citizens protect their privacy when transacting between member states.
GDPR regulates both exports of personal information outside the E.U. as well as data privacy and security issues within 28 E.U.
member countries, forcing organizations to take them seriously or face severe penalties.
The GDPR requires compliance with data classification and sensitive data classification, continuous monitoring, reporting data breaches within 72 hours, as well as metadata management to store, collect and regularly review collected information.
Sarbanes-Oxley Act of 2003
The Sarbanes-Oxley Act of 2003 is a United States federal law that mandates public companies to perform annual assessments of their internal financial auditing controls and ensure their effectiveness is outlined annually in an audit.
Furthermore, this act emphasizes auditing as well as continuous monitoring, access controls and data usage activity reporting as proof of compliance.
Data Security Trends
Quantum Computing
Quantum computers perform calculations by exploiting quantum phenomena such as superposition or entanglement. This has the potential to have a major effect on data security, creating an imminent danger.
Quantum technology must lead the charge in changing how we encrypt our data today, as well as provide quantum-proof solutions before quantum computers break current data encryption methods.
Artificial Intelligence
Artificial Intelligence can enhance a security system's capabilities by making it more capable of handling large volumes of data efficiently.
A.I. recreates human intelligence or thought processes in machines programmed to act similarly. A.I. helps make quick decisions during times of urgency.
Multi-Cloud Security
Multi-cloud security has evolved alongside cloud computing's popularity and uptake. Multi-cloud security protects not only data stored within cloud storage services but also applications and processes utilizing them.
Cyber Security Framework Overview
Cyber resilience frameworks (sometimes referred to as cybersecurity frameworks) are documents that outline best practices, norms and procedures for mitigating cyber risks in order to minimize company exposure to cyber thefts.
Although "framework" sounds like an object, it actually refers to an online application developed with programming languages that are designed to protect an internet network, data and programs from unauthorized exploitation.
Cyber threats pose an extremely real danger for individuals and organizations without an effective cyber resilience framework in place.
Hackers could gain entry to computers, mobile phones or networks and steal sensitive data, which may cause irreparable harm in the workplace environment or even cause death.
Cyber Security Framework Types
Cybersecurity frameworks can be classified based on their required functions. Frameworks fall into three categories:
Control Frameworks
A control framework encompasses measures designed to mitigate security risks while increasing efficiency and guaranteeing financial system reliability.
Control frameworks serve as effective security strategies for prioritizing security controls and cyber security pillars within an organization.
Program Frameworks
A framework for program-focused evaluation provides an efficient means of determining whether security programs are the primary function of any given system and serves as an avenue of communication between management and cyber security departments.
Risk Frameworks
A framework for assessing and mitigating risk serves to help identify, evaluate, and mitigate the potential threat.
A risk framework protects the system by prioritizing appropriate actions against risks. All cybersecurity frameworks aim to reduce cyber risks, so they all perform similar functions. However, different cybersecurity programs may have slightly differing preferences and target audiences.
Cyber Security Framework
Cyber security frameworks consist of three major elements: Framework Core, Implementation Levels and Profiles.
- Framework Core: The Core guides are intended to supplement an organization's existing cybersecurity framework and risk-management procedures in order to reduce cybersecurity vulnerabilities and vulnerabilities.
- Implementation Levels: This tool assists developers in better managing cybersecurity risks and assessing the degree of comprehensiveness needed for their programs. It can also be used to communicate hazard requirements within organizations.
- Within any organization, profiles can help to identify and organize opportunities to improve cybersecurity.
CIS controls (formerly CIS critical security controls) are an extensive set of cyber defense action frameworks that provide methods for mitigating some of the most dangerous cyber threats.
Cyber Security Framework
Cyber Security Framework comprises five main components.
- Identify: Assists with developing a hierarchy of cybersecurity that encompasses frameworks, people, resources, data and capabilities.
- Protect: Cybersecurity protects foundation services by mitigating the impact of potential cybersecurity threats.
- Detect: This refers to conducting the necessary exercises for identifying any event related to cybersecurity experience.
- Respond: In this section, we explore what steps can be taken towards an exceptional cybersecurity approach.
- Recovery: This allows you to choose how best to restore your flexibility, administrations or capabilities that were compromised during a cyber incident.
Read More: Implement a Strong IT Security Policy to Protect Your Data and Systems
Cyber Security Frameworks To Consider
ISO/IEC 27001 and 27002
The International Organization for Standardization has created ISO/IEC 27001 & ISO 27002 Certifications as an international norm to certify cyber security programs.
ISO/IEC 27001's primary goal is reducing and eliminating risks identified through analysis.
ISO/IEC 27001 certification can be attained. At the same time, ISO 27002 was created as an additional guide based on it to establish online protection controls in an ISMS implementation process.
ISO certification is a widely adopted cybersecurity framework used by influential organizations - particularly financial services firms - as it signals to customers that your site can be trusted.
GDPR
GDPR, or General Data Protection Regulation, is one of the world's toughest privacy and security programs, designed to enhance data protection for the E.U.
(European Union), EEA (European Economic Area containing Norway, Iceland, and Liechtenstein), and all European citizens.
The General Data Protection Regulation (GDPR) is a European Union regulation designed to safeguard citizens' data by mandating cloud services to store it safely - this includes data held by small- and medium-sized enterprises (SMEs).
The E.U. recently passed GDPR, placing an obligation on global companies that collect data from E.U. citizens. Businesses offering products or services within Europe, as well as processing sensitive data, must adhere to GDPR compliance regulations.
NIST RMF and CSF
The National Institute of Standards and Technology in the U.S. developed NIST CSF as one of the most effective cybersecurity frameworks, which detects cyberattacks within seconds and provides detailed instructions for how to detect, recognize, defend against, and respond to such cyber-attacks.
The NIST Cybersecurity Framework provides businesses of all sizes with high standards to build effective cybersecurity programs and tools to evaluate potential risks.
Additionally, its surveillance tool allows for an assessment of cybersecurity threats.
NIST Risk Management Framework Cybersecurity, commonly referred to as NIST RMF Cybersecurity, is a set of security controls that helps identify, implement and assess cybersecurity capabilities in I.S.
systems (Information Systems) and PIT platforms (Platform Information Technology).
COBIT
ISACA's COBIT (Control Objectives For Information and Related Technologies) framework offers companies an efficient method to develop, implement, monitor, and improve I.T.
management practices. COBIT frameworks help organizations create, implement, monitor and improve their I.T. management strategies.
I.T. companies manage data related to cloud computing, social media platforms and company details in various ways.
COBIT's main aim is to enhance enterprise security while protecting heavy information loads with end-to-end coverage.
Cybersecurity Maturity Model Certification (CMMC)
The United States Department of Defense developed the Cybersecurity Maturity Model Certification (CMMC), which serves as a framework to assess their contractors and subcontractors for security, capability and strength.
The Cybersecurity Maturity Model Framework was designed to identify risks and vulnerabilities within supply chains and enhance online system security while protecting U.S.
Defense Department missions against any breaches that might compromise them.
IASME Governance
IASME is a framework designed to enhance cybersecurity services for SMEs (Small and Medium Enterprises). The IASME Governance standard follows ISO 27001's protocol while at the same time offering lower costs - plus offering an advanced tool for security management.
IASME Governance's cybersecurity framework offers SMEs superior protection of consumer data. Additionally, its standard certification provides free insurance cover to UK-based businesses.
FIRMA
The Federal Information Security Management Act (FISMA) was developed as a framework to safeguard the Federal Government network from cyber attacks.
FISMA offers services for sites and agencies working for the U.S. Government. This framework resembles NIST standards.
FISMA provides a framework for categorizing risks at a high level, setting minimum baseline controls, documenting them and continuously refining them as necessary.
Furthermore, it automatically encrypts sensitive information.
PCI DSS
Payment Card Industry Data Security Standard is a cybersecurity framework created for organizations that handle, store and process credit or debit card data.
The goal of PCI DSS is to enhance payment account security during each step of transaction processing - whether conducted online or at physical POS locations - regardless of transaction volume. Any company can utilize PCI DSS.
PCI offers various levels of compliance depending on your specific payment needs - no matter if it's accepted online, by phone or at a physical point-of-sale (POS).
- Level 1 retailers include those processing more than 6 million Visa transactions annually,
- Level 2 retailers process between one million and six million each year.
- Level 3 retailers process between 20k-1M transactions up to 6 Million annually using Visa cards.
- Level 4 retailers: Any merchant conducting between 20,000 to 1 Million Visa card transactions annually.
HITRUST CSF
Healthcare is an ever-evolving sector and relies heavily on technology for sharing and protecting sensitive data.
HITRUST's CSF framework, certified globally by an independent security certification body, offers a flexible yet efficient and comprehensive way of managing cyber risks through flexible management tools developed specifically by them.
The HITRUST CSF Framework comprises 156 control objectives and 75 controls. Each level meets specific needs while building upon each other to form robust security solutions.
Your website displaying HITRUST CSF certification indicates that it complies with applicable data protection legislation when performing, storing, accessing or transmitting data.
SAMA Cyber Security Framework
SAMA (Saudi Arabian Monetary Authority), a Saudi Arabian government agency, created the SAMA Cyber Security Framework in order to enhance cyber-security within Saudi Arabian government organizations and assist various government agencies in implementing mandatory guidance that enhances safety by offering specific safeguards against potential cyber threats.
Saudi Arabia's Government has mandated that all banks, insurers and financial service providers adopt the SAMA Cyber Security Framework in order to be prepared to address cyber threats.
Why Do We Need Cyber Security Frameworks?
Cyber security frameworks offer cyber security managers a way to systematically and reliably reduce cyber risk regardless of the complexity of any given environment.
Cyber security frameworks offer teams an effective plan for addressing cyber security issues and protecting data, infrastructure and systems.
Furthermore, they help I.T. Security leaders better manage cyber risks within their organizations.
Companies can either build their framework from scratch or customize an existing one to their needs, though the latter option can prove challenging when certain businesses must adhere to government or commercial regulations requiring compliance frameworks - however, frameworks created internally may not meet them.
Businesses must abide by standard cybersecurity practices. Utilizing such frameworks will make compliance simpler and smarter; no matter which industry a business belongs to, finding one suitable framework should meet its needs perfectly.
Frameworks enable companies to follow proper security protocols, not only helping keep the organization secure but also instilling consumer trust - they are less reluctant to conduct online business with companies that adhere to established security protocols that protect financial data.
Now more than ever, developing and incorporating a cyber-security plan into your business is becoming ever more vital.
Security incidents have increased along with malicious actors' methods of attack, with artificial intelligence (A.I.), machine learning (ML), and technology advances making it easy for criminals to target any organization of any size.
Cyber security incidents have increased 400%, according to the FBI. Ransomware payments also saw an 82% surge, from US$572,000 in 2022 to US$812,360 by 2022.
This trend will likely only continue growing year on year and is unlikely to slow anytime soon. Certain industries also impose privacy rules and guidelines, which your business must adhere to in order to lower costs and safeguard assets.
Cyber Security Framework: Best Practices
No matter the framework used, some best practices can be applied across all frameworks. We will now elaborate further on the five functions of NIST that were mentioned earlier.
- Identify: A business's best defense against security risks lies in understanding its environment and identifying any weak spots within it.
- Protect yourself from harm: Cyber security events and data breaches can have devastating repercussions for companies, so companies must create and implement safeguards to mitigate or lessen their impact.
- Discover more about Detect: Organizations must identify cyber security incidents as quickly as possible to minimize damage.
- Response: Businesses must respond quickly and appropriately to cyber security incidents with effective plans of action.
- Recover: Cyber security incidents can compromise a company's capabilities and services.
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Conclusion
An effective cyber risk framework is integral to an organization's overall risk management strategy. A robust cybersecurity framework must be in place in order to secure sensitive information and personal data - especially within organizations storing large volumes of information related to health, national security or financial records.
Each organization may have their cybersecurity framework.
