Cyber Security: Foundations of Risk Management - Research Paper Example

CYBER SECURITY Introduction The research paper will be oncyber security and how it poses to be a huge risk now and the next decade. It has focused on the factors that make cybercrime thrive and how it can be mitigated. With the world of technology changing as fast as people can handle America is finding itself in a tight position. The superpower needs technology in its different fields to thrive but also privacy and confidentiality of such program me needs to be enhanced to help in mitigating and preventing the wrong data of people in accessing the documents (Harris). The American government understands that cyber security is a very complicated war and it needs a lot of intelligence to be able to ensure that in as much as organizations are transacting and conducting business it is important for them to be regulated to ensure that safety standards are adhered to. The challenge in cyber security is that it affects different losses from loss of privacy to loss of even finances and it goes to the extent where crucial data can be lost. Hackers can be in the country or outside the country. The challenge is that this war is beyond borders and with the world changing fast it will be a huge challenge in America in the next decade. There are many factors that are contributing to this vice one of it is that it is a channel that terrorist can use so as to further their agenda. By accessing the security intelligence system terrorists may be able to gain some ground they can also steal crucial data that they may use to their advantage such as weapons manufacturing and analyzing the best time to attack (Huffman). The second most crucial factor is greed. There are many way people can access financial transactions using the internet. Banking industry is the most affected whereby hackers try to steal money electronically even though they have really tried to do their part the financial losses have been going on for a while. This is what makes America have enemies from within their country. Criminals who want to get easy money. The third challenge that is proving difficult is the lack of trust among countries. American government was recently accused by Germany of hacking their Prime minister cell phone. Such acts have brought about mistrust among trusted allies in the fight against cybercrime. Apart from America Sony entertainment a company subsidiary to Sony limited wanted to release a movie that brought out diplomatic battles where North Korea allegedly hacked into the system and stole all data from Sony then released confidential emails among the Staff to the public. This cannot be ignored as petty as it brought a lot of losses to the company. From a business angle Sony Investors must have been shocked by the turn of events that occurred. Though North Korea denied they were involved investigations revealed they were involved? This is just a case of example why Cybercrime is difficult to handle and does pose as a big threat to America and to the world in general. It is clear now that in this war countries don’t know from where they will be attacked it’s a matter of preparing for the worst and hoping for the best. Another factor is that there are no enough laws regulating about cybercrime and also they differ from one country to another therefore making it a challenge to fight it. There are cases whereby suspects hacking the American system are traced to Russia but Russian government denies involvement and refuses to handover suspects. Such case brings about misinformation and this is a big threat where America needs to find a solution to this because without unity in this war it will be fruitless (Joseph). This factor makes it possible for the American government to fight this but will depend on this on how to mitigate this in the next decade. To be able to overcome this threat the cyber security standards needs to be put in place so as to ensure that they try and mitigate the losses. They were set up in 2007 and the role was to help in transparency and ensuring efficiency in the business today. The implementation will help in combating cybercrime as this will help the Interpol in accessing the criminals from wherever they will be. It is always noted that for some threat to be combated unity has to be the rule of the game and the American government need to ensure that the states speak the same voice in legislation. Sanctions for countries that are not ready to arrest the hackers are a very good solution. If a country is not ready to ensure a safe internet than the country should be held liable. America being a superpower can easily mobilize its trade partners on this rule and in the end they will have benefitted also as there will be more surveillance from different countries and this will help arrest or block unsecured channel. Financial institutions that have really been affected by this should come up with a blacklisted listed where specific accounts should not be able to access fraud money and also be able to report suspicious accounts to authorities. The freezing of bank accounts can go a long way in tracing the acts committed how, when and by whom? This requires real time intelligence and cooperation. The impact of cybercrime can be felt from many different sectors of an economy and that is why it is very vital to ensure it does not occur. Financial sectors are prone to this the telecommunications sector can also be prone as this will also affect privacy. The medical field is also culpable when investing in research and development. The security industry also depends on the success of Cyber crime and also unearthing cybercrime that may lead to other prevention in future. It is also good to ensure that as we ensure the internet is safe we do not infringe on people privacy and confidentiality. Any human being is bound to have secrets and as long as they do not affect another why bother? The professionals need to look at this from a wider scope and ensure communication is done. Conclusion Cybercrime is a challenge that is just starting and it is best we become prepared than sit and wait until it destroys us. It is not a onetime event but it is always one step at a time for one to be successful. REFERENCES 1)Harris, Peter. "The Looming Danger." How to Curb Cyber Security (2013): 45. 2) Huffman, Martin. "Risk Management." Risk Management in the 21st Century (2014): 117. 3) Joseph, Mercy. "The Next Battlezone." The internet effect (2012): 39. Read More