Information Security Management by Insights:- Key IT Solutions

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Importance of Information Security Management

A basic security model should encompass Confidentiality, Integrity and Availability, however there are also additions such as Accountability and Auditability.
Nowadays since the development of the internet, it has gradually become more important that organisations review and analyse their electronic systems, such that any activity which occurs becomes predictable. More over, information security management in large companies is essential since they are relient on IT and IT systems in the processing, storage and transmission of company and customer data. As a consequence, in the event of an IT System failure, be it through the malicious or technical event of system failure or information loss, it would be unfeasible to use manual processing as an alternative or solution to the problems.
There are also a number of security issues surrounding Information security like the increased mobility of companies has resulted in remote access from wireless and through the internet. Access to a companies information assets are no longer limited to internal employees, working from a fixed known location or environment. The value of the physical computers and hardware may be valued in the thousands of dollars, however the information which may be contained as data, may be valued more in the millions of dollars.
There are some general risks associated with security penetration such as loss of income, competitive advantage and legal penalties for a business.

In a electronic money transfer environment, there are risks associated with the illicit transfer of funds such as modifying the account details of a customer. Illicit alteration of a good transaction like modifying a piece of data in transit. The replaying previous good transactions and the deletion of good transactions.

In a electronic commerce system environment, the risks associated with it, are as follows, there maybe events resulting in the compromise of customer confidentiality, like unauthorised access to customer information, and the remote launch of denial of service attacks on a server. In all cases, the most damaging for any company or organisation, is the publication of security vulnerabilities and attacks, which leads to damage to their reputation and thus reduction in consumer satisfaction. Another possible risk association with an e-commerce venture is the failure to comply with requirements from a regulatory body, this is a manageable risk unlike risks from malicious individuals.

Information Security Management - Regulator Requirements

It is essential that all top level directors and IS employees are made aware of any threats which exist to a system, such as e-commerce requirements, its risks, and any security strategies which are required. It is also necessary to determine whether and security policies in place are sufficient, therefore, external and independent penetration testing is required.
Having provisions for physical security is also essential such as preventing computers over heating, fire hazards, flooding etc, and there should be means of detecting security breaches and error checking of databases as other stored information formats.
It is also required that internet companies which require online security transactions, be required to use up to date internationally recognised crytographic algorithms, which more than sufficient keys to provide extra security for users. customers also need to be educated in the possible risks against a company and any possible risks which may be targeted at them, such as bank phishing. More often than not, internet security management is hampered by naive users, and is essential, that all risks are expalined in the most simplistic terms for a better overrall understanding.
In terms of any transactions which may occur, it is essential to deploy digital signatures to prevent non-repudiation, and to display Client Charter to be displayed on internet banking websites.

Information Security Management is essential for various reasons, some being that they are required to prevent any occurence of security incidences, to prevent any occurence and to detect any such events. In reality it is not possible to have a completely perfect security system, and thus damamge limitation is require in the case of any consequential damage. Detection will also facilitate damage recovery and to provide information which can be use to prevent any future occurences.
Security management is required to provide :-

IT Security Management schemes need to apply to all individuals in a company, and individuals must take responsibility for their actions, support and agree with the companies needs.

It is required that all risk prevention systems are in place to deal with any current and possible threats which exist, risk analysis are in place to help to ensure that businesses are able to make decisions accordingly.

It is essential in Information Security Management that the system and the data which it stores, processes, recieves and transmits has an clearly outlined owner who is responsible for making decisions regarding the system.

The policy management is a set of defined rules regarding an information security system which states how a system should behave and how it should use the rules to design, build and operate for any given environment.

The IT Standards are set out as detailed documents in explaining what and how to achieve the security goals outlined in the policy. IT Standards help to ensure that developers are able to construct a system with the correct security features.

Information Security management procedures are needed to define what sort of human involvement is required to support a system.

It is required that proper IT system management is in place in order to ensure the daily support and operation of all systems, and that any enhancements and upgrades do not compromise security.

It is essential that managers act in a prudent manner for the benefit of all shareholders, and that any decisions made are done so from a manner of knowledge.

It is essential that IT Security becomes an integral part of a business such that if each department has its own developed IT policy, which is deperate and to a degree, different from each other, then it is highly probable that arguements will ensue.

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