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Industry Verticals-IT :( Technology)

August 1, 2009
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Managing IT Risks:
Management of Information Technology (IT) has become a key aspect of every business that highly depends on IT that wasn’t the case in the past. This has exposed enterprises against IT risks, which needs to be identified and properly countered to reduce the IT risks level. Hence, managing IT risks plays a vital role in organizations and businesses in today’s time.

IT risks are classified as:

Security risks:This risk can be either internal or external threats based on unauthorized access of information or company servers and its database.

Availability risks:This pertains to information that might be inaccessible due to unplanned system outages. It relates to the information that’s required by customers, employees, and shareholders to keep the business running. The risk involved with such available data needs to be reduced.

Performance and compliance risks: This risk is attributed by poor data quality causing inaccessibility of information. It also occurs due to scalability limitations of data assets of enterprises and vast companies. Further, the lack of data asset management policy in companies leads to violation of regulations during information access.

While explaining the significance of IT risks and its management, IT risks should be quantified through an impact assessment and develop a business case for IT investment. Impact can take many forms, including customer losses, business losses pertaining to damage to brand equity, legal costs, and regulatory fines. Companies should understand the range of tools that can be applied to manage IT risk and design a solution accordingly. Technology plays a key part in designing the solution, but it mainly depends on IT risks and business cost backed by proportionate investment in security solutions and its implementation. The security costs and IT risks and says, obviously we can’t afford to apply the highest security levels to every IT risk that we identify.

Confidentiality, integrity, and availability are 3 words that are considered carefully while making IT security decisions. There are frameworks that can help enterprises with security compliance, viz., Information Technology Infrastructure Library (ITIL) or Control Objectives for Information and related Technology (COBIT),” says Wing Fie Chia, team manager of F-Secure.
Such frameworks can be used by most enterprises, but it needs meticulous study of frameworks and its suitability, keeping in view with the budget for security.

Misuse of technologies:

Various technologies like Web 2.0 has enabled attackers to compromise the user’s computer, many a times directing the browser to a malicious site or downloading malicious code onto the user’s computer.

Furthermore, anonymous proxies are the next in the reckoning. These are software that hides a user’s real Internet Protocol (IP) while connecting to an external Web site, bypassing restrictions against restricted material on the local network.

While commenting on misuse of technologies, over the past 2 years, we have seen rise in the total number of malware exponentially, and this year it has increased twofold. During these years there were some very well “social engineered” targeted attacks.

Targeted attacks can either come in a form of email or malware and usually a very comprehensive research is done before hand. There’s a fundamental change in the threat and it’ll continue in future too.

Today, attackers are increasingly targeting personal information for monetary gains and affecting people’s privacy. Formats have evolved over the past few years both in terms of scope and smartness. Various types of viruses — such as destructive worms, network worms, botnets, spasm, and trojan attackers have shown how destructive they’re in past.

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One Comment leave one →
  1. August 1, 2009 7:23 am

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