Tech Titans

Part 1: Risk Interpretation for TechTitans

Even when all the benefits of advanced technology and cloud computing are factored in for the TechTitans, critical risks affecting the CIA of its data arise. The risk assessment below mentions the most critical threats and their estimated impact on the company’s IT systems.

1. Evaluation of Risk Effects on Data CIA (Confidentiality, Integrity, and Availability)

Confidentiality

This unauthorized access may result in the leakage and hacking of customers’ data and financial information, which may be disastrous to the organization’s reputation and have possible legal implications.
Data Integrity

Data integrity threats arise when unauthorized alterations or tampering occur. This may affect the integrity of transaction records or customer data, which may be significant enough to create financial discrepancies.
Availability

The result of such disruptions may be through cyber-attacks, hardware failure, or even natural causes of huge downtimes where customers cannot place orders or access their accounts. This affects sales and erodes customer confidence.

2. Computer Security and Accessibility

Security practices, such as weak passwords or failure to update the system, can cause exterior threats that affect TechTitans. Poor access controls may permit unauthorized people to access critical systems and steal sensitive data. Inaccessibility may occur when a legitimate user is unable to access the system because it has failed or been misconfigured. This can be unfortunate and stressful for an individual.

3. Fire Risk

The other probable cases of destruction that might happen are fires in the data center or offices, which would cause destruction to servers and hardware hosting key company information. If proper precautions are not put in place, the company will end up losing valuable information. This will have adverse impacts on the operations of the company and huge repercussions in terms of monetary value (Belsis et al., 2015).

4. Flooding Damages

It is vital to have the most recent IT audit report readily available in order to analyze earlier vulnerabilities and ensure that they have been appropriately addressed. Failure to keep backups in safe, off-site places can result in major data loss.

5. Risk of Stealing or Tampering with Sensitive Data

Data theft or tampering can occur if proper security measures, such as encryption and multi-factor authentication (MFA), are not in place. This risk is exacerbated when employees access the system remotely via insecure networks, making the system vulnerable to hacking attempts.

6. Power Failure

Power outages could lead to the temporary loss of critical services. While the company’s cloud infrastructure may provide some resilience, on-site systems still rely on consistent power. Without uninterruptible power supplies (UPS) and backup generators, sudden outages could cause data loss or corruption.

7. System Administration

Poor system administration practices, such as insufficient patch management, outdated software, or misconfigured servers, increase the risk of cyberattacks and system failures. System administrators must ensure that all hardware and software are updated regularly and aligned with industry best practices.

8. Backup Recovery

Ineffective backup systems or failure to test backups regularly could prevent the company from recovering data in the event of a disaster. Backups should be stored securely off-site, and recovery procedures should be tested to ensure data restoration is quick and reliable

Part 2: TechTitans Risk Mitigation Checklist

This checklist outlines all the relevant mitigations required to deal with the identified risks for TechTitans. This checklist must be implemented at the organization in order to deal with possible threats.

1. Copy of the Last Audit Report

The most recent IT audit report should be presented because it identifies prior weaknesses and makes sure those have indeed been removed.

2. System Administration of IT Accounts

Regularly clean up the new administrative accounts created and remove all old accounts that are not in use or were created in error. Other new security measures that should also be implemented to reduce the likelihood of people or unauthorized persons accessing the system include the use of RBAC.

3. Installed and Updated Software and Hardware

Keep software and hardware updated with the latest security patches and updates. Further, periodically review and upgrade systems to protect against emerging threats.

4. Listing of all Incremental and Daily Backups

Record daily and incremental backups. This is to assist in the quick restoration of data during any emergency. According to Al Nafea et al. (2019), this should also be ensured in a safe location, which must be off-site or in the cloud.

5. Inventory of Newly Adopted IT Usage Policies, Rules, and Regulations

Ensure that the latest IT policies, rules, and regulations are implemented and practiced within the organization. In addition, employee guidelines shall be included regarding cloud services utilization and access to company data remotely.

6. Data Integrity, Confidentiality and Usability

Create regular data integrity checks that will prevent unauthorized tampering. Encrypt sensitive data to maintain its confidentiality, yet it is made readily available in case of an orderly request for access by authorized personnel.

7. Fire and Flood Risk Mitigation

Install fire suppression systems within the data centers and offices. Insure all on-site servers and equipment against potential water damages due to flooding

8. Power Backup Solutions

Ensure UPS and generators are available for continuity of service in case of a power outage. Test regularly the solutions to ensure effectiveness during such an emergency. Verify the backup plan.

9. Testing Backup Recovery Plans

Perform the testing of the backup and recovery process regularly to ensure quick and efficient recoveries immediately after a disaster strikes. Allow for availability by storing backups in a secure cloud environment in offsite locations. Lastly, employee cybersecurity training.

10. Employee Cybersecurity Training

Undergo training that will equip all employees with knowledge of best cybersecurity practices, such as how to avoid phishing attacks, password management, and securing remote accesses.

References

Belsis, P., Kokolakis, S., & Kiountouzis, E. (2015). Information systems security from a knowledge management perspective. Information Management & Computer Security, 13(3), 189-202.

Al Nafea, R., & Almaiah, M. A. (2021, July). Cyber security threats in cloud: Literature review. In 2021 international conference on information technology (ICIT) (pp. 779-786). IEEE.

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Part 1
Interpret the following listed risks for the company that you have chosen. You may add to this list to address risks that you find in the company that you have chosen for your Key Assignment.

• Evaluation of risk effects on data CIA (Confidentiality, Integrity, and Availability)
• Computer security and accessibility
• Fire risk
• Flooding damages
• Risk of stealing or tampering with sensitive data
• Power failure
• System administration
• Backup recovery

Part 2
Develop a checklist that will be used to implement the mitigation to the risk in Week 4. The following is an example of what should appear on your checklist. Alter this for your chosen company.

• A copy of the last audit report
• System administration of information technology (IT) accounts
• The installed and updated software and hardware
• List of all incremental backups and daily backups
• List of any new installed IT use policies and rules and regulations
• Data integrity, confidentiality, and usability of how you are implementing this

This list is necessary in adopting a mechanism or a guide to write and apply the audit procedure specified earlier in the audit plan and eventually will produce the report.