Let us start with a definition:

Information security is the protection of information from a wide range of threats in order to ensure business continuity, minimize business risk, and maximize return on investments and business opportunities. (ISO 17799:2005)

Security is not a one-time effort; it is a process of continual improvement:

Availability – Information is no longer available when required
Integrity
– Information is corrupted/incomplete and no longer reliable
Confidentiality – Information is disclosed to unauthorised people

Focusing on maturing the state of security based on business requirements:

Awareness & Communication – responsibility to protect information
Policies, Plans & Procedures - risk, projects, change, incidents
Tools & Automation – patching, hardening, incident repulsion
Skills & Expertise – training to identify security incidents
Responsibility & Accountability – adequate governance and roles
Goal Setting & Measurement – security reporting/metrics

To mitigate the risk of harmful events to acceptable levels:

Competitive disadvantage – unauthorised disclosure to a competitor
Loss of business – client expectations for security are not met
Reputational damage – security incident results in brand damage
Fraud – funds improperly diverted without detection or audit trail
Faulty management decisions - inaccurate management information
Legal liability - security incident in breach of regulation/contract
Poor morale – security incident affects employee morale/motivation
Operational disruption - unavailability of systems/applications
Safety – incorrect personnel records may place employees at risk
Privacy breach – employee/client may suffer identity theft

Effective information security requires the involvement of all employees:

Board
Be aware of security exposure and monitor programme performance

Executive
Mandate a security culture and direct a risk managed approach

Manager
Understand and reduce security risks to an acceptable level

Employee
Comply with security policy and report security incidents appropriately

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