Description
Given: The student is given a scenario where an organization’s sensitive data are leaked due to a breach and information about their currently implemented security defense system/measures are provided. The student is also given a list that contains a full list of assets inventory for the organization, including all descriptions and monetary values.
XYZ Company Background:
XYZ Corporation is a small-medium-sized technology company specializing in software development and IT solutions. The company employs approximately 200 employees and handles sensitive data from clients in various industries, including financial institutions and healthcare providers. XYZ Corporation takes data security seriously and has implemented several security defense systems and measures to protect its assets.
Current Security Defense Systems/Measures:
Firewall and Intrusion Detection System: XYZ Corporation has deployed a robust firewall and intrusion detection system to monitor network traffic and prevent unauthorized access to its internal systems. The system is designed to identify and block suspicious activities.
Access Control and Authentication: The company enforces strong access control policies, requiring employees to use unique usernames and passwords to access their systems. Additionally, two-factor authentication (2FA) is implemented for accessing critical systems and databases.
Encryption: XYZ Corporation uses encryption techniques to safeguard sensitive data both at rest and during transit. All data stored on servers and databases are encrypted, and secure communication protocols (such as SSL/TLS) are utilized for data transmission.
Regular Software Updates and Patches: The company has a strict policy of regularly updating software and applying security patches to mitigate vulnerabilities. This includes operating systems, applications, and third-party software.
Employee Training and Awareness: XYZ Corporation conducts regular security awareness training programs for employees to educate them about data protection best practices, such as recognizing phishing attempts and the importance of strong passwords.
Company Assets and Inventory:
Servers and Networking Equipment: Dell PowerEdge R740 Server (x3) – $10,000 each
Cisco Catalyst 3850 Switch (x2) – $5,000 each
Juniper SRX340 Firewall – $8,000
Databases and Storage Systems: Oracle Database Server – $20,000
NetApp FAS2650 Storage System – $15,000
Workstations and Laptops: • _HP EliteBook 840 G7 (x50) – $1,500 each
Dell OptiPlex 7070 Desktop (x25) – $1,200 each
Software Licenses: • _Microsoft Office 365 Enterprise License – $12,000
Adobe Creative Cloud License – $6,000
Client Data: • _Financial Institution Client Data (confidential) – Value not specified
Healthcare Provider Client Data (protected health information) – Value not specified
Note: The values provided are hypothetical and may not represent actual prices in market.
Description of Data Breach Incident:
Despite the implemented security defense systems and measures, XYZ Corporation recently experienced a data breach incident. The breach occurred when a malicious attacker exploited a vulnerability in an outdated software component that had not been patched promptly. The attacker gained unauthorized access to the company’s internal network and managed to extract sensitive client data, including financial institution client data and protected health information from healthcare providers. The exact value of the stolen data is yet to be determined, but it poses a significant risk to both the affected clients and XYZ Corporation’s reputation.
Upon discovering the breach, XYZ Corporation took immediate action to contain the incident, engage with a cybersecurity forensic firm to investigate the extent of the breach, and notify the affected clients. The company is now working diligently to strengthen its security measures, update all software components, and enhance employee training programs to prevent future breaches and protect its assets and sensitive data.
Required: The student will
Assess the current security measures and strategies implemented at this company.
Perform a full analysis of possible types of breaches that might take place on those assets (minimum of three breaches) and use a risk analysis and assessment statistical techniques to report the security posture of that organization.
Identify and rank company XYZ’s assets, threats, and vulnerabilities using a tool (like Excel) that shows all calculations and decision-making logic. Record any assumptions made.
Conduct a detailed Cost Benefit Analysis (CBA) for a chosen control based on prior risk analysis, justify assumptions, and provide a concise conclusion and recommendation regarding the control’s purchase.
NB. Make sure to use proper and concise security terminologies in your report as covered in various sessions.
Deliverables: The assignment deliverables are as follows:
A Full PDF report to document your findings for the following (Template):
Part A: Countermeasures: A comprehensive assessment/critique of the listed 5 current security measures adopted by the XYZ company. The description shall include how these measures operate to protect data, which assets they target to protect, whether they are effective, and what are other potential security threats the current defenses impose on the XYZ company.
Part B: Attacks: Provide full description of a minimum of 3 attacks (web based, network based, and software based) that can be launched against the company XYZ based on the current security posture as analyzed in part A. For each identified attack, provide sufficient information about the attack type, vulnerability or vulnerabilities that might lead to that attack, asset or assets that might be compromised, and security components that might be compromised, and your suggestion to mitigate that attack.
Part C: Risk Analysis: Perform the following tasks with respect to risk analysis of the company XYZ assets: Prioritize Assets, Identify and Prioritize Threats and Vulnerabilities for each asset, Calculate risk for each vulnerability, Prioritize which vulnerability would you address first and why? The risk analysis process shall be done using a tool that can be a full excel spreadsheet showing all calculations and interpretations. Document any assumptions made during your analysis.
Note: Check useful resources for some useful tools that might shed light on what we expect you to submit in this part of the assignment.
Part D: Cost Benefit Analysis (CBA): You are required to carry out a comprehensive Cost-Benefit Analysis (CBA) for a control measure that you have identified as a potential solution to risks outlined in your earlier risk analysis (Part C). Your analysis should lead to a well-reasoned conclusion on whether the control should be implemented. The CBA process shall be done using a tool that can be a full excel spreadsheet showing all calculations and interpretations. Document any assumptions made during your analysis. Justify each assumption’s relevance and reasonableness. Summarize the results of your CBA and present a clear recommendation on whether or not to purchase the control.
Reflection:
Each student must write a bulleted list reflecting on their individual contribution to the fulfillment of this assignment’s requirements as a team member. Please use the first-person pronoun “I” in your reflection.
References: Cite all used references using APA style.
Submission instruction
Submit PDF file as a primary resource (Template)
Submit Excel sheet as a secondary resource.
Students must use their own words to document the report and refrain from copy/paste from web resources or using AI tools and also cite any references used properly.
Useful Resources
https://www.isaca.org/resources/isaca-journal/issues/2017/volume-3/it-asset-valuation-risk-assessment-and-control-implementation-model
Academic Integrity Disclaimer
I hereby confirm that the work submitted for the assignment is entirely my own. I affirm that I have not used any artificial intelligence (AI) tools or any other unauthorized means to generate answers or complete any part of this assignment. The work presented reflects my own ideas, research, and understanding of the subject matter. I understand the importance of academic integrity and the consequences of submitting work that is not my own. I acknowledge that any violation of academic honesty policies may result in disciplinary action, including but not limited to, a failing grade for the assignment or the entire course.
By submitting this assignment, I declare that I have complied with the academic integrity standards set forth by CIS/ZU. I am aware of the ethical implications of using external assistance and have adhered to the principles of honesty and integrity throughout the completion of this assignment.
Unformatted Attachment Preview
Tasks
1-
Indicate where you can insert any reference
Part A:
Firewall and Intrusion Detection System
The firewall and the Intrusion Detection System (IDS) are key pieces in the security setup of XYZ Corporation,
helping to manage and monitor all the data that moves in and out of the company’s digital systems. The role of
the firewall is much like a gatekeeper, checking all incoming and outgoing data traffic to ensure it meets specific
security standards. This process is crucial for blocking data or individuals who do not have permission to access
the network, thereby preventing unauthorized access and potential cyber-attacks (ref). In addition to the firewall,
the IDS acts as the company’s digital watchtower, continually scanning the network for signs of suspicious activity
that resembles known methods of cyber intrusion. Its main function is to alert the company immediately if it
detects any unusual patterns, such as a lot of data suddenly going to places it usually doesn’t, sign-ins from places
far away at strange times, or many failed tries to get into secure parts of the network, serving as an early warning
system to avoid unauthorized access and attacks (ref).
However, these protective measures are not perfect. The firewall, for instance, might not always identify data
that’s been altered to look safe, allowing harmful information to get through (ref). Additionally, the Intrusion
Detection System (IDS) can sometimes miss new kinds of attacks with which it’s not familiar. Since it relies on
known patterns to spot threats, it may not recognize or warn about attacks that differ from what it has seen
before (ref). This situation highlights the importance of regularly updating and improving these security tools,
ensuring they can keep up with the constantly changing nature of cyber threats.
To overcome these vulnerabilities, XYZ Company must ensure the firewall and IDS are updated with the latest
advancements in security technology (ref). This practice helps them stay one step ahead of cyber criminals by
equipping them to identify and tackle new threats as they arise. Regular updates are vital for keeping the defense
mechanisms sharp and effective in the face of the dynamic nature of cyber threats. Furthermore, adding an
Intrusion Prevention System (IPS) could significantly bolster their security framework. An IPS extends the
capabilities of an IDS by not only detecting potential threats but also taking immediate, automated actions to
block or mitigate those threats before they can cause harm (ref). This proactive approach enhances XYZ’s
defenses against unauthorized access and attacks, providing a more robust security posture.
Access Control and Authentication
Access Control and Authentication are pivotal elements in XYZ Company’s security framework. Access control
decides who is permitted to access the company’s digital assets. This mechanism operates on principles similar to
a selective entry list, which meticulously outlines which employees are granted access to specific company data
or systems sections. The primary objective here is to ensure that only authorized personnel can view or change
sensitive information, thus safeguarding the company’s valuable assets from unauthorized access (ref).
Authentication serves as the process for verifying the identity of individuals attempting to gain access to these
resources. This step is essential, much like the procedure of verifying an individual’s identity through an ID card to
ascertain that they are indeed who they claim to be (ref). In order to imporove its security measures, XYZ
Company employs two-factor authentication (2FA). This advanced method necessitates two distinct forms of
verification before access is granted. Typically, this would involve an employee entering a password followed by a
unique code sent directly to their personal device, such as a mobile phone. The dual-layer verification process
considerably reduces the risk of unauthorized entry since acquiring both an individual’s password and the unique
code simultaneously poses a significant challenge for potential intruders (ref).
The effectiveness of access control and authentication is paramount in protecting the company’s critical data and
systems from the reach of unauthorized individuals. However, the robustness of these measures significantly
relies on rigorous management practices and the proactive involvement of employees in maintaining the
confidentiality and security of their access credentials. Should an employee’s access details fall into the wrong
hands, it could potentially pave the way for unauthorized access, underscoring the critical need for continuous
education on security protocols and the importance of frequent updates and management of access credentials.
This proactive approach towards security not only fortifies the company’s defenses against potential cyber threats
but also fosters a culture of security awareness and responsibility among its workforce.
Encryption
Encryption is a security process used by XYZ Company to protect its data, turning it into a code to prevent
unauthorized access. This method involves using algorithms to transform readable data, known as plaintext, into
a scrambled format known as ciphertext. Only those with the correct key can decode this information back into
its original form, making it unreadable to anyone who intercepts it without authorization (ref).
XYZ employs encryption for data at rest (stored data) and data in transit (data being sent over the network).
Encrypting data at rest ensures that stored information, such as employee records or client details, is secure even
if the storage system is compromised. Data in transit encryption protects information as it moves between
systems, preventing eavesdroppers from intercepting and understanding the data being exchanged (ref).
This security measure targets the confidentiality and integrity of XYZ’s information. Confidentiality ensures that
only authorized parties can view the data, while integrity means the data remains unchanged unless modified by
authorized users. Encryption, therefore, acts as a vital line of defense against data breaches and cyber-attacks.
However, encryption effectiveness depends on the strength of the algorithms used and the security of the
encryption keys. If the keys are weak or improperly managed, the encryption can be broken, compromising the
data’s security (ref). Therefore, XYZ Company must manage its encryption keys meticulously and stay updated
with the latest encryption methods to counteract evolving cyber threats.
Regular Software Updates and Patches
Regular Software Updates and Patches are crucial components of XYZ Corporation’s cybersecurity strategy.
Software updates involve the release of newer versions of software, which often include improvements in
security, added features, and bug fixes (ref). Patches, on the other hand, are smaller, focused updates that
address specific vulnerabilities or flaws within the software.
These updates and patches are essential because they repair security holes that cyber attackers could exploit.
When a vulnerability is discovered, software developers work to fix the issue and release an update or patch to
resolve it (ref). By regularly applying these updates and patches, XYZ Company ensures that its systems are
protected against known vulnerabilities, thereby reducing the risk of a security breach.
Applying updates and patches requires careful management. It involves testing the updates in a controlled
environment to ensure they do not disrupt system operations or cause compatibility issues with other software.
Once tested, the updates can be systematically rolled out across the company’s networks and devices (ref).
This practice targets the integrity and availability of the company’s data and systems. Integrity is preserved by
protecting the systems from vulnerabilities that could be exploited to alter or corrupt data. Availability ensures
that systems remain operational and accessible to users, without interruptions caused by security breaches or
malware infections.
Software updates and patches are a fundamental security measure for XYZ Corporation. They not only fix known
vulnerabilities but also contribute to the overall resilience of the company’s digital infrastructure against cyber
threats. Effective management of this process is essential to maintaining the security, integrity, and availability of
the company’s systems and data.
Employee Training and Awareness
Employee Training and Awareness are key elements of XYZ Company’s strategy to improve its cybersecurity
defenses. This approach focuses on educating the company’s workforce about the various cybersecurity risks and
the best practices to mitigate these threats. The training programs are designed to equip employees with the
knowledge and skills needed to recognize and respond to potential security incidents, such as phishing attacks,
malware infections, and unauthorized access attempts (ref).
The core objective of these training sessions is to create a culture of security awareness throughout the
organization. Employees are taught to understand the importance of security measures, such as using strong
passwords, securing sensitive information, and adhering to the company’s IT policies. Awareness programs are
regularly updated to cover new and emerging threats, ensuring that the workforce remains vigilant in the face of
evolving cyber risks (ref).
The effectiveness of Employee Training and Awareness programs significantly depends on their ability to engage
participants and instill a sense of personal responsibility for protecting the organization’s digital assets (ref).
Interactive sessions, real-life examples, and regular security updates contribute to a more informed and proactive
workforce.
These initiatives target the human aspect of cybersecurity, acknowledging that technology alone cannot
safeguard against threats. By empowering employees with the necessary knowledge, XYZ Corporation enhances
its security posture from the inside out, reducing the likelihood of successful cyber attacks.
Part B:
DDoS Attack (Network-based Attack)
A DDoS attack, or Distributed Denial of Service attack, is a major threat where many computers across the
internet send data to XYZ Corporation’s network all at once. This is not normal traffic; it’s like a crowded street full
of cars where no one can move. The goal of this attack is to flood XYZ’s network with so much traffic that it can’t
handle normal business operations, similar to a highway jammed with cars, making it impossible for legitimate
traffic to get through.
In the context of XYZ Corporation, which relies on its network for daily operations and services, a DDoS attack
could stop all work, affecting the company’s ability to serve its clients and potentially harming its reputation. This
is because the company’s website, client access portals, and other online services could become unavailable, just
like a store that has to close its doors because the entrance is blocked.
The company’s firewall and Intrusion Detection System (IDS), which are designed to protect against unauthorized
access, might not be effective against a DDoS attack. This is because they’re overwhelmed by the attack’s volume,
much like a filter that gets clogged when too much dirt is poured into it all at once. These systems struggle to
separate good data from bad when the flood is too great.
To defend against a DDoS attack, XYZ Corporation could use special DDoS protection services. These services work
by identifying the bad traffic and stopping it before it reaches the company’s network, acting like a smart filter
that only lets clean water through. Improving the network’s ability to handle large volumes of data can also help,
akin to widening a road to allow more cars to pass. Setting up rules to limit how much data any single source can
send in a certain time frame, known as rate limiting, can prevent a single source from clogging up the system.
Lastly, having a plan in place for what to do if an attack happens ensures that the company can quickly get back to
normal, similar to having a detour route when a road is blocked.
By understanding and preparing for DDoS attacks with these strategies, XYZ Corporation can better protect its
network, ensuring that its services remain available to clients even during an attack. This preparation not only
protects the company’s technical infrastructure but also its reputation and ability to serve its customers
effectively.
Phishing Attack (Web-based Attack)
A Phishing Attack is a type of trick played on the internet, where attackers pretend to be a trustworthy source to
steal sensitive information from XYZ Corporation. Imagine someone pretending to be a friend to borrow money
but then never returning it. In a phishing attack, employees might receive an email that looks like it’s from a
trusted company or their own IT department, asking them to click on a link or provide login details.
The main goal of these attackers is to get access to private company information, such as passwords, financial
records, or client data. It’s like someone secretly stealing the key to a private diary or a safe. Once they have this
information, they can enter the company’s systems just as an employee would, leading to theft of valuable data
or even money.
Despite XYZ Corporation’s strong security measures like firewalls and intrusion detection systems, these defenses
can be bypassed through phishing because the attack targets employees directly, exploiting human trust rather
than technological weaknesses. It’s similar to a thief talking their way into a house instead of breaking a window .
To defend against phishing attacks, XYZ Corporation needs to educate its employees about these risks. This is like
teaching someone to recognize a scam call or a fake charity collector. They should be trained not to trust emails
asking for sensitive information, to double-check email addresses for any subtle misspellings, and to avoid clicking
on links from unknown sources.
Additionally, implementing advanced email filtering solutions can help catch phishing emails before they reach an
employee’s inbox, acting like a net that catches harmful insects. Using two-factor authentication (2FA) for
accessing company systems adds another layer of security. Even if an attacker gets a password from a phishing
attack, they won’t be able to access the system without the second verification step, much like needing both a key
and a fingerprint to unlock a treasure chest.
Ransomware Attack (Software-based Attack)
A Ransomware Attack is a kind of cyber threat where harmful software, called ransomware, gets secretly installed
on XYZ Corporation’s computers or network. Think of ransomware like a lock put on your personal files by
someone else, who then demands payment to remove the lock. This software can block access to the company’s
files or even the entire system by encrypting them, which means turning the files into a code that can’t be read
without a special key. The attackers then ask for money, usually in digital currency, to give back access.
The way ransomware gets into the company’s systems can vary. It might come from an employee accidentally
opening an infected email attachment or downloading software that looks legitimate but is actually harmful.
Once inside, the ransomware can spread across the network, locking away important data and systems.
This kind of attack can severely disrupt business operations, similar to locking all doors in an office building.
Employees can’t access the information they need to work, which can lead to lost time and money, not to
mention the potential harm to the company’s reputation if client data is involved.
Despite having security measures like firewalls and intrusion detection systems, XYZ Corporation could still be
vulnerable to ransomware if software is not kept up to date. Attackers often exploit known weaknesses in older
versions of software before companies have a chance to update them.
To defend against ransomware attacks, XYZ Corporation must ensure that all software and systems are regularly
updated and patched. This is akin to fixing a broken window that could let thieves in. Employees should also be
trained to recognize suspicious emails or downloads to prevent ransomware from entering the system in the first
place. Think of this as teaching employees to double-check the identity of someone before letting them into the
building.
Additionally, having a solid backup strategy is crucial. Regularly backing up important data and keeping it separate
from the main network can be a lifesaver. If ransomware locks the data, the company can restore it from these
backups without paying the ransom, similar to having a spare key in case the original is lost.
By staying vigilant with updates, training, and backups, XYZ Corporation can better protect itself against the
devastating impact of ransomware attacks. This not only safeguards the company’s data but also ensures that
business operations can continue smoothly, even in the face of such threats.
Purchase answer to see full
attachment
