Contents of the Report
The following bullet points highlight the major points that would be included in the discussion part of the report.
– The use of Information systems has increase the value of information.
– The information is now considered an asset.
– Loss of information can lead to loss of public trust as well as reputation of the organization, loss of business edge and productivity (Goel 2009).
– Organizations need and are required to protect this valuable asset or face the consequences.
– Protection of Information is enforced through industry regulations and standard.
– Non-compliance can lead to fines and litigations.
– The lack of classification of information allows makes the enforcement of privacy of information difficult, thus making information accessible to anyone and leaving the systems vulnerable (Goel 2009).
– The lack classification of information affects the organization’s ability to allow access to a particular piece of information to authorize personnel only (Confidentiality aspect of Information Security).
– The lack of classification of information also affects the Integrity of the information as well, which dictates that information should be available for accidental or malicious modification.
– Unauthorized disclosure or modification of data accidentally or with malicious intent can range from significantly affecting the critical functions of the organization to rendering them unable to function while also severely affecting organization’s workforce, partners as well as customers.
– Recent incidents in which information security was classified due to lack of information classification include US. Department of Veteran Affairs, Bank of NY Mellon and Dai Nippon Printing Company (Goel 2009).
– Us Department of Veteran Affairs suffered a major set-back on May 22, 2006 when over 26 million records of US military veterans were stolen from the residence of one of its analyst (Rueters 2006).
– Bank of NY Mellon suffered a security breach on August 28, 2008 when information related to its 12.5 million customers were lost when the bank loss six of its ten unencrypted tape disks on which the data was kept (Rueters 2008).
– The Dai Nippon Printing company also suffered a massive data breach in March 2008, when one of the former contractors of the company stole data consisting of 8.6 million records containing customer information of more than 40 of company’s clients.
– Security vulnerabilities can be addresses through Asset Identification and Information Classification (Focus 2010).
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