7 th Annual Information Security Summit The Executive Forum. Information Security Management Overview

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1 7 th Annual Information Security Summit The Executive Forum Information Security Management Overview June 4, 2015 Copyright Citadel Information Group. All Rights Reserved.

2 2 Establishing Leadership. Providing Senior Management Education. An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage. Jack Welch

3 3 The number one thing at the Board level and CEO level is to take cybersecurity as seriously as you take business operations and financial operations. It s not good enough to go to your CIO and say are we good to go. You ve got to be able to ask questions and understand the answers. Major Gen Brett Williams, U.S. Air Force (Ret) This Week with George Stephanopoulos, December 2014

4 4 CyberCrime in the News

5 5 Cybercrime s Greatest Impact is on Small & Medium Sized Organizations 30% of victims have fewer than 250 employees 60% of smallbusiness victims are out of business within 6 months 80% of these breaches preventable

6 6 Online Financial Fraud Continues To Be Growing Challenge

7 7 Data Breach Costs Expensive. Money Down the Drain. $154 Per Compromised Record $3.8 Million Per Event Investigative Costs Breach Disclosure Costs Legal Fees Identity Theft Monitoring Lawsuits Customers Shareholders

8 8 Hackers Encrypt Your Files, Demand 'Ransom'

9 9 Organizations Under Attack for Political Views

10 10 Company Driven Into Bankruptcy by Competitor Hack

11 11 Disgruntled Employees Sabotage Systems, Steal Information and Extort Money

12 The Bottom Line: Cyber Security Management Is Now An Executive Management Necessity 12 Customer, Client and Donor Information Credit Cards and PCI Compliance HIPAA Security Rule Breach Disclosure Laws On-Line Bank Fraud & Embezzlement Theft of Trade Secrets & Other Intellectual Property Loss of Other Peoples Information Critical Information Made Unavailable Systems Used for Illegal Purposes

13 13 Meeting the Cybercrime Challenge Distrust and caution are the parents of security. Benjamin Franklin

14 The Objective of Cyber Security Management is to Manage Information Risk Cyber Fraud Information Theft Ransomware Denial of Service Attack Regulatory / Compliance Disaster Loss of Money Brand Value Competitive Advantage

15 The Basic Elements of Information Risk 15 Confidentiality / Privacy Integrity Availability Authenticity Non-Repudiation Anonymity

16 16 The Information Security Management Chain Identify Protect Detect Respond Recover Risk Transfer and Insurance Legal and Regulatory Framework It Takes the Village Internal & External Based Upon: 1. NIST Cybersecurity Framework 1.0, dated February 12, 2014, and Update of December 5, International Standards Organization 27001:2013: Information technology Security techniques Information security management systems Requirements 3. Porter Value Chain: Understanding How Value is Created Within Organizations

17 Manage Information Security From the Top 17 Chief Information Security Officer / Information Security Manager Independent C-Suite Access Supported with Cross-Functional Support Subject Matter Expertise

18 18 Know What Information Needs To Be Protected and Where It Is Online Banking Credentials Credit cards Employee Health Information Salaries Trade Secrets Intellectual Property Servers Desktops Cloud Home PCs BYOD devices

19 19 Implement Written Information Security Management Policies and Standards

20 20 Train Staff to Be Mindful. Provide Phishing Defense Training.

21 21 Require Vendor(s) to Meet Security Management Standards Security Management included in Service Level Agreements Comply with Information Security Standards Business Associate Agreements (HIPAA) Information Security Continuing Education

22 22 Make Sure IT Keeps All Programs Updated

23 23 Critical Information Available in Disaster? Trust But Verify.

24 24 Be Prepared: Collect, Protect and Analyze Evidence Ensure IT is logging all potentially-relevant events Make sure IT staff doesn t unknowingly destroy valuable evidence Use trained experts to conduct incident forensics

25 ISSA-LA: Assisting IT Staff Gain Expertise 25 Monthly Meetings: 3 rd Wednesday of Most Months Information Security Management Boot Camp for IT Professionals

26 26 Summary: Manage Security of Information as Seriously as Operations & Finance Implement Formal Information Security Management System 1. Information Security Manager / Chief Information Security Officer 2. Implement Formal Risk-Driven Information Security Policies and Standards 3. Identify, Document and Control Sensitive Information 4. Train and Educate Personnel. Change Culture. 5. Manage Vendor Security 6. Manage IT Infrastructure from information security point of view

27 The Rest of the Day 27 Information Security Expert Panels Panel 1: Information security management need Panel 2: Be prepared Luncheon Keynote Joseph Esposito, LA County District Attorneys Office Case Studies Case Study 1: The Case of the Extra Payroll File. Case Study 2: The Case of We re not sure what if anything has happened Case Study 3: The Case of the Stupendous Sales Opportunity

28 7 th Annual Information Security Summit The Executive Forum Information Security Management Overview Copyright Citadel Information Group. All Rights Reserved.

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