Attacks/Breaches
10/20/2008
06:25 AM
Connect Directly
RSS
E-Mail
50%
50%

ANSI Launches Guide to Help Calculate Cyber Security Risk

Standards body advocates multi-disciplinary approach to security breach planning

The American National Standards Institute (ANSI) and the Internet Security Alliance today issued a guide designed to help enterprises calculate the risks and costs associated with data security breaches.

The new 40-page guide, entitled "The Financial Impact of Cyber Risk: 50 Questions Every CFO Should Ask" offers advice on measuring the cost of security breaches and how enterprises should prepare for data compromise.

There have been many "risk calculators" and papers on security return on investment published in recent years, but this is the first to be issued by a standards group like ANSI, which has helped set IT standards in the U.S. for decades. As a result, the guide will likely get a close review by many organizations, particularly those that use ANSI standards in other parts of their business.

In a nutshell, the guide advocates that organizations calculate cyber security risks and costs by asking questions of every organizational discipline that might be affected: legal, compliance, business operations, IT, external communications, crisis management, and risk management/insurance. The idea is to involve everyone who might be affected by a security breach and collect data on the potential risks and costs.

Once all of the involved parties have weighed in, the guide offers a mathematical formula for calculating financial risk: Essentially, it is a product of the frequency of an event multiplied by its severity, multiplied by the likelihood of its occurrence. If risk can be transferred to other organizations, that part of the risk can be subtracted from the net financial risk.

If an organization can accurately calculate the potential risk associated with a particular attack or event, it can use that data to decide what "risk management actions," if any, need to be taken, the guide says. The idea is to make informed decisions on what security technologies or strategies are truly worth the investment, based on the risks associated with a specific type of threat.

This calculation can also make it easier for organizations to decide whether they need breach insurance coverage, and if so, how much they should purchase, the guide says.

"The key to understanding the financial risks of cyber security [breaches] is to fully embrace its multi-disciplinary nature," the guide says. "Cyber riski is not just a 'technical problem' to be solved by the company's CTO."

Have a comment on this story? Please click "Discuss" below. If you'd like to contact Dark Reading's editors directly, send us a message.

Tim Wilson is Editor in Chief and co-founder of Dark Reading.com, UBM Tech's online community for information security professionals. He is responsible for managing the site, assigning and editing content, and writing breaking news stories. Wilson has been recognized as one ... View Full Bio

Comment  | 
Print  | 
More Insights
Register for Dark Reading Newsletters
White Papers
Cartoon
Current Issue
Flash Poll
Video
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2013-2595
Published: 2014-08-31
The device-initialization functionality in the MSM camera driver for the Linux kernel 2.6.x and 3.x, as used in Qualcomm Innovation Center (QuIC) Android contributions for MSM devices and other products, enables MSM_CAM_IOCTL_SET_MEM_MAP_INFO ioctl calls for an unrestricted mmap interface, which all...

CVE-2013-2597
Published: 2014-08-31
Stack-based buffer overflow in the acdb_ioctl function in audio_acdb.c in the acdb audio driver for the Linux kernel 2.6.x and 3.x, as used in Qualcomm Innovation Center (QuIC) Android contributions for MSM devices and other products, allows attackers to gain privileges via an application that lever...

CVE-2013-2598
Published: 2014-08-31
app/aboot/aboot.c in the Little Kernel (LK) bootloader, as distributed with Qualcomm Innovation Center (QuIC) Android contributions for MSM devices and other products, allows attackers to overwrite signature-verification code via crafted boot-image load-destination header values that specify memory ...

CVE-2013-2599
Published: 2014-08-31
A certain Qualcomm Innovation Center (QuIC) patch to the NativeDaemonConnector class in services/java/com/android/server/NativeDaemonConnector.java in Code Aurora Forum (CAF) releases of Android 4.1.x through 4.3.x enables debug logging, which allows attackers to obtain sensitive disk-encryption pas...

CVE-2013-6124
Published: 2014-08-31
The Qualcomm Innovation Center (QuIC) init scripts in Code Aurora Forum (CAF) releases of Android 4.1.x through 4.4.x allow local users to modify file metadata via a symlink attack on a file accessed by a (1) chown or (2) chmod command, as demonstrated by changing the permissions of an arbitrary fil...

Best of the Web
Dark Reading Radio
Archived Dark Reading Radio
This episode of Dark Reading Radio looks at infosec security from the big enterprise POV with interviews featuring Ron Plesco, Cyber Investigations, Intelligence & Analytics at KPMG; and Chris Inglis & Chris Bell of Securonix.