CSIS-3001 - Introduction To Cybersecurity Guidelines For The ✓ Solved
CSIS-3001 - Introduction to Cybersecurity Guidelines for The
Assignment Title: Data Breach Incident Analysis
Objective & Purpose: The purpose of this assignment is to be able to identify a data breach incident from news media and provide an overview of the case; analyze common security failures and identify specific cybersecurity principles that have been violated; identify the cybersecurity principles involved or needed to increase the cybersecurity posture; and describe appropriate measures to be taken should a system compromise occur (Business Continuity Plan).
Description of Assignment: Your assignment will be to first identify and conduct an investigation into a data breach incident of an organization in the past several years. Ensure you select a new case, not one covered in class. Develop a written paper that includes the following sections:
- Data Breach Overview: Provide an overview of the data breach incident you selected, the organization it occurred in, and any prior data incidents in that organization.
- Cybersecurity Failures: Analyze the cybersecurity failures and identify the specific dimensions of cybersecurity and related principles that have been violated during the incident.
- Cyber Risk Management: Identify the cyber risk management factors associated with the cyber incident for the organization you're investigating.
- Business Continuity Plan: Describe appropriate measures the organization should take to mitigate the risk of another data breach in the future.
- Conclusion: Summarize the whole paper in your own words.
The report should be professional and include a title page, table of contents, page numbers, clear headings, a reference list following APA style with at least seven different references, and a certificate of authorship as the last page of the document.
Paper For Above Instructions
The increasing frequency of data breaches in recent years highlights the critical importance of cybersecurity in protecting sensitive information. This paper analyzes a significant data breach incident, the Target Corporation data breach of 2013, which resulted in the compromise of 40 million credit and debit card numbers and the personal information of 70 million customers. The analysis will cover an overview of the incident, the cybersecurity failures that allowed the breach to occur, the cyber risk management factors involved, a proposed business continuity plan, and a conclusion summarizing the findings.
Data Breach Overview
In December 2013, Target Corporation experienced a massive data breach that compromised the payment card information of approximately 40 million customers, along with personal data of about 70 million more individuals (Krebs, 2014). The breach occurred over the busy holiday shopping season and was traced back to vulnerabilities in Target’s payment processing system that were exploited by hackers using malware. Specifically, attackers gained access to Target’s network through stolen credentials of a third-party vendor responsible for installing and maintaining Target’s refrigeration systems (Graham, 2014).
Prior to this incident, Target had faced no major publicized data incidents, which made this breach especially shocking. The breach severely affected Target's reputation, leading to significant financial losses. According to estimates, the breach cost Target over $162 million in expenses related to the incident (Hoffman, 2015).
Cybersecurity Failures
The Target data breach illustrated several critical failures in cybersecurity, primarily revolving around the inadequate segmentation of networks and ineffective monitoring of security systems. The attackers were able to move laterally within Target's network after gaining initial access, demonstrating a lack of proper network segmentation (Chappell, 2014).
Using the McCumber Cube, it is evident that the breach violated principles in all three dimensions: confidentiality, integrity, and availability (McCumber, 1991). The lack of encryption for card data as it traveled through Target's systems illustrated a violation of the confidentiality principle. Moreover, inadequate monitoring and timely responses to security alerts represented failures in integrity and availability, allowing attackers to exploit vulnerabilities without detection.
Cyber Risk Management
Recent reports emphasize the growing concerns over cyber risks in the retail sector, especially with the emergence of sophisticated cyber threats (Gartner, 2022). For Target, the likelihood of a data breach was assessed as high, given the increase in criminal activities targeting retail payment systems. The estimated impact of the breach was severe, affecting customer trust and leading to a potential loss of consumer confidence (Ponemon Institute, 2021).
Table 1 below highlights the specific cyber threats, risk descriptions, likelihood, impact, and proposed actions for mitigating future breaches.
| Cyber Threat | Risk Description | Likelihood | Impact | Proposed Actions |
|---|---|---|---|---|
| Malware Attacks | Installation of malware on point-of-sale systems | High | Severe financial loss and reputational damage | Implement advanced malware detection systems |
| Insider Threats | Compromise of access credentials by internal personnel | Moderate | Loss of sensitive information | Conduct regular security training and audits |
| Network Vulnerabilities | Unsecured network infrastructure | High | Data breaches | Enhance network segmentation and monitoring |
Business Continuity Plan
In light of the significant consequences associated with the Target data breach, it is imperative that organizations develop comprehensive business continuity plans (BCPs) to mitigate the risk of future incidents. An effective BCP should include proactive measures such as regular cybersecurity training for employees, strict access controls, and incident response planning (ISACA, 2021).
Moreover, continuous assessment and adaptation of cybersecurity policies are essential to respond to evolving threats. Target should also invest in state-of-the-art monitoring solutions that leverage artificial intelligence to detect anomalies in real-time, thereby enhancing their ability to respond rapidly to cybersecurity incidents.
Conclusion
The Target data breach of 2013 serves as a stark reminder of the vulnerabilities present in retail organizations' cybersecurity practices. The analysis of this incident reveals critical failures in network segmentation and inadequate monitoring that led to significant financial and reputational damage. Understanding and addressing these cybersecurity principles aligns with factors associated with risk management that organizations like Target must prioritize. Developing comprehensive business continuity plans will be essential for reducing the likelihood of future data breaches, ensuring organizations can protect their customers and maintain their reputations.
References
- Chappell, B. (2014). Target's Data Breach: A Timeline. NPR. Retrieved from https://www.npr.org/sections/thetwo-way/2014/01/10/260290686/targets-data-breach-a-timeline
- Gartner. (2022). How to Build a Cyber Risk Management Strategy. Retrieved from https://www.gartner.com/en/documents/4000541/how-to-build-a-cyber-risk-management-strategy
- Graham, M. (2014). Target Breach Details Emerge: Malware Used to Steal Customer Data. Security Week. Retrieved from https://www.securityweek.com/target-breach-details-emerge-malware-used-steal-customer-data
- Hoffman, C. (2015). The Financial Impact of the Target Data Breach. The New York Times. Retrieved from https://www.nytimes.com/2015/07/25/business/the-financial-impact-of-the-target-data-breach.html
- Krebs, B. (2014). The Target Data Breach: How It Happened. Krebs on Security. Retrieved from https://krebsonsecurity.com/2014/01/the-target-data-breach-how-it-happened/
- ISACA. (2021). Cybersecurity Measures: Best Practices for 2021. Retrieved from https://www.isaca.org/resources/news-and-trends/newsletters/cybersecurity-news/archives/2021/cybersecurity-measures-best-practices-for-2021
- Ponemon Institute. (2021). Cost of a Data Breach Report 2021. Retrieved from https://www.ibm.com/security/data-breach
- McCumber, J. (1991). Information Security: The McCumber Cube. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6677177/