Given the following scenario, discuss in depth the risk assessment strategies and components that you would deploy in order to ensure that secure defenses and compliance attributes are embedded into the core of your network and information security deployment. Marketing company X has a need to keep their propriety methods of marketing strategies safe from other companies who may use their information to gain a competitive advantage. The company is choosing cloud storage as their safe haven for information, and has decided not to store any of their data locally. For speed purposes, the company has also chosen to not use two-factor authentication and has chosen basic password security authentication instead, allowing those with a need to know to access the information using a simple password. This was mandated by the CTO of the company in order to make things easy for the staff, who know very little about computer security, and complain about things taking too many steps to access. Discuss and describe how you would handle this situation, and perhaps make note of any recommended changes you would make as you deploy your risk assessment strategy to help the CTO understand the consequences and/or rewards for the decisions made thus far.

Risk assessment is an essential component of network and information security deployment. In the given scenario, marketing company X faces a need to protect their proprietary marketing strategies from competitors. They have chosen to store their information in cloud storage, without any local data storage. Furthermore, the company has opted for basic password security authentication instead of two-factor authentication for the sake of simplicity and expediency. This paper will discuss the risk assessment strategies and components that should be deployed in order to ensure that secure defenses and compliance attributes are embedded into the core of the network and information security deployment.

One of the first steps in risk assessment is to identify and understand the potential threats and vulnerabilities. In this scenario, the primary threat is the risk of competitors gaining unauthorized access to the company’s proprietary marketing strategies stored in the cloud. The vulnerabilities include the absence of local data storage and the use of basic password security authentication. Additionally, the lack of knowledge about computer security among the staff can further exacerbate the potential risks.

Next, it is crucial to assess the likelihood and potential impact of these threats. Without two-factor authentication, the risk of unauthorized access to the cloud storage increases. Basic password security authentication alone may not be sufficient to protect against sophisticated attacks or socially engineered attempts. Moreover, the absence of local data storage may limit the company’s ability to maintain control over their information and increase reliance on their cloud service provider. The impact of unauthorized access to the proprietary marketing strategies can be severe, potentially leading to financial losses and reputation damage for the company.

Once the risks have been identified and assessed, it is necessary to determine the appropriate risk response strategies. In this scenario, implementing two-factor authentication would significantly enhance the security of the cloud storage. This additional layer of authentication would require users to provide evidence from two different sources (e.g., a password and a unique code from a mobile device) to access the information. This would greatly reduce the risk of unauthorized access, even if the password is compromised. Educating the staff about the importance of computer security and providing training on best practices would also mitigate potential vulnerabilities resulting from human error or lack of knowledge.

Furthermore, it is important to communicate the consequences and rewards associated with the decisions made thus far. The CTO must understand that the current approach may expose the company to significant risks. Security breaches can lead to legal liabilities, loss of intellectual property, and reputational damage. On the other hand, implementing robust security measures, such as two-factor authentication, can provide the company with improved security, compliance with regulatory requirements, and protection of their proprietary information. It is crucial to ensure that the CTO understands the potential benefits of investing in comprehensive network and information security measures.

In conclusion, an effective risk assessment strategy should be deployed to embed secure defenses and compliance attributes into the core of network and information security deployment. In the given scenario, implementing two-factor authentication and providing staff training on computer security are essential steps to mitigate the risks associated with storing proprietary marketing strategies in the cloud. It is imperative to communicate the consequences of the decisions made thus far and emphasize the rewards that can be achieved by adopting robust security measures.

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