1. Why Information Systems Security Is Important

• Dependence on Digital Systems: Organizations rely on information systems for their core operations, from financial transactions to supply chain management.
• Cybersecurity Threats: The rise of sophisticated cyberattacks (e.g., ransomware, phishing) highlights the need for robust security measures.
• Consequences of Breaches:
  • Financial Loss: Cost of remediation, fines, and lost business.
  • Reputational Damage: Erodes trust among customers and stakeholders.
  • Legal Liabilities: Non-compliance with data protection laws (e.g., GDPR) can result in severe penalties.
• Example: The 2017 Equifax data breach exposed sensitive information of 147 million people, showcasing the catastrophic effects of inadequate security.

2. Key Security Challenges

• Internal Threats:
  • Unintentional Errors: Employees accidentally deleting files or sharing sensitive data.
  • Malicious Insider Actions: Disgruntled employees stealing or leaking information.
• External Threats:
  • Hackers exploiting vulnerabilities in systems or networks.
  • Nation-states targeting businesses for espionage or sabotage.
• Vulnerabilities in Systems:
  • Outdated software without patches creates "backdoors" for attackers.
  • Weak configurations of network devices or servers.
  • Poorly managed third-party integrations.
• Example: An employee leaving their laptop unsecured in a public space can lead to unauthorized data access.

3. Types of Security Threats

• Malware:
  • Viruses: Attach themselves to files or programs and spread across systems.
  • Worms: Self-replicating and spread across networks without user interaction.
  • Ransomware: Encrypts files, demanding payment to restore access.
  • Spyware: Secretly collects data and sends it to third parties.
  • Trojan Horses: Disguised as legitimate software to execute harmful actions.
• Social Engineering:
  • Phishing: Fraudulent emails or messages tricking users into revealing sensitive information.
  • Pretexting: Creating a fake scenario to obtain information (e.g., impersonating tech support).
  • Baiting: Offering a tempting reward (e.g., free software) to lure victims.
• Denial of Service (DoS) Attacks:
  • Overloading servers or networks, rendering them unavailable to legitimate users.
  • Example: The 2016 Mirai botnet attack disrupted major websites like Twitter and Netflix.
• Data Theft:
  • Infiltrating databases to steal personal, financial, or proprietary data.
  • Example: The Target breach in 2013 exposed 40 million credit card numbers.

4. Framework for Information Security

• Risk Assessment:
  • Identify potential threats, vulnerabilities, and impacts.
  • Use frameworks like NIST (National Institute of Standards and Technology) to assess risks systematically.