Chapter 4: Information Security

The five factors that contribute to the increasing vulnerability of information resources:

·       Today's interconnected, wirelessly networked business environment.  Example: the internet

·       Smaller, faster, cheaper computer and storage device.    Example: netbook, thumb drives, ipads

·       Decreasing skills necessary to be a computer hacker.      

Example: information system hacking programs circulating on the internet.

·       Information organized crime taking over cybercrime.  

 Example: organized crime has formed transnational cybercrime cartels.

·       Lack of management support.

 Define the three risk mitigation strategies, and provide an example of
each one in the context of owning a home.

The three risk mitigation strategies are:
     Risk acceptance, where the organization accepts the potential risk, continues operating with no controls, and absorbs any damages that occur. If you own a home, you may decide not to insure it. Thus, you are practicing risk acceptance. Clearly, this is a bad idea. Risk limitation, where the organization limits the risk by implementing controls that minimize the impact of threats. As a homeowner, you practice risk limitation by putting in
an alarm system or cutting down weak trees near your house. Risk transference, where the organization transfers the risk by using other means to compensate for the loss, such as by purchasing insurance. The vast majority of homeowners practice risk transference by purchasing insurance on their houses and other possessions.