Risk and Security - Essay Example

Risk and Security AFFILIATION: Risk and Security The current era is that of fast information flow. This means that businesses need to keep abreast of the latest technological developments happening in the field of business; otherwise, they will soon become outdated and will lose their competitive edge. Keeping up to date with technology is not always a safe journey. It has its pros and cons. Very often this information is misused by some individuals. Potential Security ThreatsSome of the potential security threats for this company are as follows:Any employee can code significant parts of the management information system or place a password on these and use it to dictate his or her terms.

Those having access to financial information can commit frauds and embezzlements (Shaw, Ruby, & Post, n.d).The information can also be leaked by means of e-mail, instant messaging, and peer-to-peer and remote access. Besides these, the usage of portable storage devices can also result in a leak (Gordon, 2007).Strategies to Minimize these Threats The first step in mitigating the security threats is to know about all the possible threats that an information system is vulnerable to.Firstly, a company can train its employees not to reveal information in any way possible.

They need to be informed about the probable dangers of revealing this information. Next, policies should be developed to make sure everyone follows the set principles. A process should be defined for retrieving and archiving the documents containing confidential information (Zurich, 2008). ConclusionIn a nutshell, technology has its own merits and demerits, and for companies to avoid information security breach, it is necessary that risk assessment be done properly (Elky, 2006).ReferencesElky, S. (2006). An introduction to information system risk management.

Retrieved from http://www.sans.org/reading_room/whitepapers/auditing/introduction-information-system-risk-management_1204Gordon, P. (2007). Data leakage – threats and mitigation. Retrieved from http://www.sans.org/reading_room/whitepapers/awareness/data-leakage-threats-mitigation_1931Shaw, E. D., Ruby, K.G., & Post, J.M. (n.d). The insider threat to information systems. Retrieved http://www.dm.usda.gov/ocpm/Security%20Guide/Treason/Infosys.htmZurich (2008). Strategies for managing information security risks.

Retrieved from http://www.zurichna.com/internet/zna/SiteCollectionDocuments/en/media/inthenews/strategiesformanaginginformationsecurityrisks.pdf