What is Return on Security Investment? How to Measure the Return on Investment (ROI)?

It is crucial to invest in cyber security due to state of cybersecurity today. Before making any decisions concerning the security posture of your business, you must consider the Return on Security Investment. In this article, we took a closer look at what ROSI is and how it is calculated.

What is Return on Security Investment?

It is an evident fact that information security is one of the main concerns of a company. As a result, various companies from very different sectors invest great sums of resources in security information. Software, systems, physical and virtual measures, new technologies, improved devices, intricate protocols… There are endless options if you want to improve the security posture of your business. But when you invest considerate amounts of money and other resources on security measures, it is only natural to be curious about how well your investment is paying. Return on security investment (ROSI) aims to satisfy this curiosity.

With the ROSI calculations, it is possible to get a firm grasp of the amount of risk diminished with the amount spent on security measures.

Why is the ROSI Important?

In a world abundant with hackers, data thieves, viruses, malware and cyber-terrorists, it is essential to know if you are ‘safe’ enough. In order to ensure the safety of your networks and systems, you need to take necessary precautions, choose and implement related solutions. As you might have noticed, information security operations require decision making a lot often. From the very first step (such as choosing from numerous alternative software solutions) to further steps along the line (such as deciding how to act upon a security event), you need to make decisions. More specifically, you need to make informed decisions in order to keep your network and systems safe.

That is why considering ROSI is important while making decisions in regards to the security posture of your business. ROSI allows you to know the answers of following questions:

How much is the current inadequacy of security costing the business?

How does the security affect overall efficiency of business operations?

What kind of an impact would a possible security breach have on the business?

How can the inadequacy of security be solved? What is the most cost-effective option?

How will the solution affect overall efficiency of the business operations?

Having the answers to such questions allows you to make better, well informed decisions. As a result, you can improve the security status of your business to a greater degree. Moreover, being able to financially justify your actions is a must in a corporate environment no matter how important or impactful those actions are.

In addition, nobody wants to invest on solutions that will not be effective. Considering the ROSI allows you to foresee how efficient, how useful the solutions you want to implement are going to be. After all, there is no point in implementing a solution that will not result in a decrease in risks. Thanks to Logsign, security intelligence solutions, your return on security investment will increase.

How is ROSI Calculated?

The calculation of ROSI is pretty straightforward. You can find the formula below. The desired outcome must be greater than 1, otherwise you are making a wrong move in regard to your security operations.

ROSI = (Risk Exposure . % Risk Mitigated) – Solution Cost

Solution Cost

References:

https://infosecwriters.com/text_resources/pdf/ROSI-Practical_Model.pdf

https://searchsecurity.techtarget.com/opinion/Return-on-security-investment-The-risky-business-of-probability

https://www.afponline.org/ideas-inspiration/topics/articles/Details/calculating-your-return-on-security-investments-fp-a-s-role

http://rafeeqrehman.com/2017/06/13/return-security-investment-rosi-anyway/

What is Cyber Defence Intelligence?

Cyber defence intelligence has been one of the most popular topics of discussion within the IT circles. What is it? Why is it important? Should you invest in it? We sought answers to all these questions in our article.

What is Cyber Defence Intelligence?

Providing a strong façade for your networks and systems is an intricate business that consists of various components and steps. One of them is data collection. During almost every step of cyber security operations, massive amounts of data is gathered through logs and other recording systems. In addition to that, your cyber security team makes regular assessments of your security posture and through these assessments, impressive amounts of data concerning your network and systems are collected.

With the help of this valuable data that comes from various sources, you can detect any security incidents and make informed decisions in order to contain and eliminate the issue. Moreover, you can even spot the vulnerabilities of your systems and predict possible attacks. Thus, you can take preventive action and stop malicious attacks even before they occur. But to do all these, you need to be able to understand what the data is telling you. In other words, you need to analyse and make sense of it. Cyber defence intelligence is the term that covers the processes of collection and analysis of the data concerning the security of your network and systems.

What is the Difference Between Cyber Threat Information and Cyber Threat Intelligence?

Information on the cyber threats is collected through (and as a result of) various cyber security practices and evaluated in regards to its source and context. Then it is analysed through the expertise and cutting edge techniques that are made possible by technologies like SIEM, SOAR, and AI. As a result of this process, cyber threat intelligence is gathered.

The difference between information on cyber threats and cyber threat intelligence is the fact that the latter is actionable, hence much more valuable. It helps the analyst to detect trends, vulnerabilities and suspicious activity. With the help of cyber security intelligence, your cyber security team can make much more informed decisions and improve the overall security posture of your business.

How is the Cyber Threat Intelligence Developed?

The development process of the cyber threat intelligence may sound easy yet it is an intricate and circular process that involves planned data collection, evaluation, analysis and reanalysis.

Intelligence analysis requires diligent effort and structural analysis techniques that eliminate biases and uncertainties. Rather than coming up with the conclusions about complex problems, intelligence analysts focus on how they reach such conclusions. As a result of this extra step, the development process of the intelligence becomes rather cyclical. Also, it is this extra step that guarantees that the biases and prejudices of the human factor are considered and even redeemed to some extent. Logsign threat intelligence solution helps intelligence analysts to take action and  better manage the impact of cybersecurity on the business.

Why is Cyber Defence Intelligence Important?

Cyber defence intelligence allows your security professionals to make informed decisions even under dire situations. Moreover, with the help of the actionable information gathered and developed through cyber defence intelligence practices, your security team can foresee possible security incidents and take necessary preventive measures. In addition, cyber defence intelligence allows you to scan vulnerabilities of the façade of your network and systems, and act upon alleviating these vulnerabilities.

References:

https://www.cisecurity.org/blog/what-is-cyber-threat-intelligence/

https://www.cyberintelligence.in

https://www.slideshare.net/FloydCarrasquillo/cyber-defence-intelligence-cdi

What is CSIRT? What are CSIRT Roles and Responsibilities?

What is CSIRT?

CSIRT (pronounced see-sirt) refers to the computer security incident response team. The main responsibility of the CSIRT is to expose and avert cyber attacks targeting an organization.

As the number of cyber threats grow each and every day, the importance of having a security team that is solely focused on incident response (IR) is fundamental. An incident response team consists on three distinct components:

  • CSIRT
  • PR Expert/Advisor
  • Legal Expert/Advisor

While the roles of PR expert and legal expert are self explanatory, CSIRT’s role is focused on the technical aspects of the incidents. Members of CSIRT are in charge of detection, control and extermination of cyber incidents. Moreover, they are the ones that will recover and restore the systems that are affected by the incident.

What are the Responsibilities of CSIRT?

Members of the CSIRT analyse the data concerning incidents and discuss methods of prevention. When necessary, they share their insights and or solutions with the rest of the company. They are active players before, during and after cyber security incidents. As a result, the list of the responsibilities of CSIRT includes:

  • Remediating security incidents.
  • Detecting and taking immediate action upon incidents.
  • Providing a 360 view and in depth analysis of the past incidents. Preventive protocols are set up in the light of these reports that CSRIT provide after the incidents.
  • Training to give the appropriate responses for new threats.
  • Management of audits.
  • Reviewing the security measures of networks and systems to detect vulnerabilities.
  • Informing related departments about new technologies, policies and changes in protocols after security incidents.
  • Maintaining internal communications and supervising operations during and after significant incidents.
  • Creating and (when necessary) updating the incident response plan (IRP).
  • Preserving confidentiality during incidents. This includes the management of off-site stored sensitive information such as network configurations and passwords.
  • Regularly reviewing standard security protocols and if needed, updating them.

Which Skills Should the Members of CSIRT Have?

It is best if the members of CSIRT have experience in security related areas. Especially experience and expertise in security incident detection and threat intelligence are proven to be extremely useful. In addition, every member of a CSIRT must have impressive problem-solving skills since being able to appropriately react to security incidents require a certain amount of skill regardless of the individual’s specific role in the team.

Moreover, you might also consider hiring staff that have completed IR courses and or have certification in regards to IR. Furthermore, employees that have an expertise in SIEM can play crucial roles in CSIRTs.

What are the Roles of CSIRT Members?

The IR team you have must be able to meet the needs of your business. That is why there is not a universally applicable magical formula but the following roles are often present on CSIRTs:

Leader of CSIRT. The team leader is mostly responsible with response protocols, incident analyses and updates in the response procedures.

Incident Leader of CSIRT. The incident leader is responsible with coordinating individual responses to the incidents. Mostly it is the most experienced member of the team on the area in which the incident is occurred.

Supporting members of CSIRT. There are several supporting members in a CSIRT team. Most of them are experts on the IT infrastructure but also it is quite wise to have staff with management experience on board. Also PR advisors and legal advisors are essential members of CSIRTs.

http://blog.rch1.com/blog/the-crucial-role-of-the-csirt

https://resources.infosecinstitute.com/skills-experience-needed-support-csirt-soc-siem-team/#gref

https://resources.infosecinstitute.com/structure-csirt-soc-team/#gref

https://fdotwww.blob.core.windows.net/sitefinity/docs/default-source/content/it/oitmanual/chapter1computersecurityincidentresponse.pdf?sfvrsn=c9ff5ac3_0

https://www.us-cert.gov/bsi/articles/best-practices/incident-management/defining-computer-security-incident-response-teams