Mitigating Information Security Incidents: Lessons Learned and Future Outlook for Firms
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ASSIGNMENT INSTRUCTIONS:
Formulate the response to two questions into a paper.
Question 1:
Has the firm had an information security-related incident? What was the impact on the firm? Was there publicity? How did the firm mitigate the damage? How have the firm’s practices changed as a result of the incident?
Answer:
Process control systems run on solarbite, had to react very quickly, wipe systems clean, reinstall
Most companies don’t want to take a hit because they are publicly traded
More prevalent, the board of directors
Pipeline led to the TSA putting federal mandates on disaster recovery, backing up data, and how approach
Number of interfaces, you have to worry about keeping the outside very secure, but the reality is they will come from the inside going east from west
Use machine learning and AI to look, because a human cannot do it
Quantum computing is going to change a lot
It is not a matter of if you get hacked, it is a matter of when, and how you are going to deal with it
Cisa the gov who watches cyber is making movies public about pipelines so attacks will become more often
Russia/Ukraine incident high alert block out east on firewalls, customers too couldn’t take the risk, 2-week standby
Question 2:
Where do you see it changing in the next 5-10 years? And your job going with it?
Bring value and open up a new line of business for their different units that they never had before
Together, working towards the bottom line
Chat GPT, AI, going to take away day-to-day jobs
Traditional boundaries of an organization are slowly deteriorating, outsourcing and partnering with so many different organizations, that is where building partnerships in the future will be very important
HOW TO WORK ON THIS ASSIGNMENT (EXAMPLE ESSAY / DRAFT)
Information security is a primary concern for all enterprises in the modern digital era. When a company will have a security issue is the question, not if. In response to the first query, businesses must approach security problems proactively. One such event was the hacking of a process control system powered by Solarbite. The company was forced to respond swiftly, completely clean its systems, and reinstall the software. Because they are publicly listed, the majority of businesses don’t want to suffer a loss, making a strong security system even more crucial.
A security issue can have a big effect on a business and possibly bring unwelcome attention to it. In response, businesses need to have a strategy in place to lessen the harm. The Transportation Security Administration (TSA) implemented federal regulations on disaster recovery, data backup, and how to handle security events as a result of the pipeline incident. Also, businesses must be aware that assaults can originate from both inside and outside the company. While maintaining the outside’s security is important, it is also possible for attacks to originate from the inside, moving from east to west.
Businesses must adapt their procedures in reaction to these security issues to make sure they are well-equipped to handle similar situations in the future. Using machine learning and AI to identify possible security issues is one approach to this. Information security will be significantly impacted by quantum computing in the future, thus businesses must also be aware of this.
The traditional boundaries of an organization are gradually eroding in the next 5 to 10 years. For businesses to succeed in the future, forming relationships with other organizations and outsourcing are essential. But this trend will also affect employment. It will be necessary to concentrate on adding value and creating new lines of business for various organizations since Chat GPT and other AI systems will eliminate routine labor. Collectively, businesses must focus on the bottom line, ensuring
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