Webinar Key Points

Question 1

What are the key steps in cybersecurity frameworks?

Answer 1

1) Identify - your valuable assets
2) Protect - with appropriate security framework
3) Detect - any compromised account or device
4) Respond - quarantine the problem and identify counter measures
5) Recover - replace, restore, fix compromised assets

Question 2

What are the different layers that APTs must to through to get to the data?

Answer 2

1) Perimeter
2) Network
3) Host
4) Application
5) Data

Question 3

What are the 5 essential cyber defenses?

Answer 3

1) Firewalls
2) Configuration - secure settings for devices and software
3) Access permissions - control access to data and services
4) Nextgen Anti-malware - protect from malware
5) Patching - keeping devices and software up-to-date

Question 4

What is the 14 point framework for defence?

Answer 4

1) Exec support
2) Reduce attack surface
3) Security architecture
4) Classify information assets
5) Zone the attack surface
6) Remove low value data
7) Use next-gen anti-malware
8) Strong user access controls
9) Dual authentication
10) Patch promptly
11) Other technical counter-measures
12) Set security settings high
13) Educate users
14) Ensure security reqmts included and tested

Question 5

What are the 6 OECD principles of governance?

Answer 5

1) Fair and transparent markets
2) Investments market duties
3) Clarity and accuracy of reporting
4) All classes of shareholders treated the same
5) Rights of stakeholders
6) Board resopnsibilities

Question 6

What are McKinsey’s 6 imperatives for FinTech attackers?

Answer 6

1) Find - opportunities for mass recruitment
2) Reduce - costs of servicing customers
3) Identify - new indicators of credit worthiness
4) Target - specific market segments
5) Cooperate - with established financial services firms
6) Anticipate and digitise - responses to reg reqmts

Question 7

What are the 6 ways to counter FinTech attackers?

Answer 7

1) Use other analytics e.g. Facebook
2) Reduce costs
3) Design customer interface to equal online platforms
4) Tailor services to mobile phone access
5) Acquire marketing skills of online retailing platforms
6) Streamline org to allow implementation

Question 8

What are 3 key elements of GPTs?

Answer 8

• Pervasive
• Can spawn new technologies
• Improve over time

Question 9

What are 4 benefits of using AI for predictive models?

Answer 9

The predictive models are:

• more accurate
• unbiased
• fast
• cheap

Question 10

What does PACED in the context of Risk Mgmt mean?

Answer 10

Proportionate - to size of org and nature of risks

Aligned - to objectives of org and needs of stakeholders

Comprehensive - covering all types of risk

Embedded - in ongoing processes for strategic and operational decision making

Dynamic - able to change as the org and environment changes

Question 11

What are Hopkin’s 8 Rs of risk management?

Answer 11

Recognition
Rating
Ranking
Responding
Resourcing
Reaction Planning
Reporting
Reviewing

Question 12

What does the COSO ERM Double Helix include?

Answer 12

• Governance and Culture
• Strategy and Objective-setting
• Performance
• Review and Revision
• Information Communication and Reporting

Question 13

What are the 3 components of risk assessment?

Answer 13

1) Risk identification - what might happen?
2) Risk analysis - how likely? what impact?
3) Risk evaluation - so what? is it within Risk Appetite and Risk Tolerance?

Question 14

What are the 7 stages of a cyber attack?

Answer 14

1) Reconnaissance
2) Tooling / Preparation
3) Infection
4) Persistence - stuxnet
5) Communication
6) Control
7) Realising Value

Question 15

What are the 3 reasons that Advanced Persistent Threats usually occur?

Answer 15

1) Hackers use opportunistic tactics
2) Hackers use highly evolved tactics
3) Hackers use inside information

Question 16

What are the 3 key ingredients of cyber risk frameworks?

Answer 16

1) Ownership - who is accountable?
2) Lifecycle - identified, investigating, analysing, treating, monitoring, closed
3) Risk info - probability and impact

Question 17

What are 5 ways to treat a ditigal risk?

Answer 17

1) Prevention
2) Reduction
3) Acceptance
4) Contingency
5) Transfer

Question 18

What is the 6-step riskbased approach to cybersecurity management?

Answer 18

1) Identify - highest value info targets first
2) Identify - the digital assets that info needs to flow through and onto
3) Verify - business case for how and where info is needed
4) Consider - threats to the org and probability of them occurring
5) Minimise - footprint of sensitive data based on business case
6) Control - efficiently add appropriate security controls

Question 19

What are 10 key considerations for Change Mgmt?

Answer 19

1) Address human side of chg systematically
2) Change starts at the top on day 1
3) Real change happens at the bottom
4) Confront reality, demonstrate faith and craft a vision
5) Create ownership, not just buy-in
6) Practice targeted over-communication
7) Explicitly address culture and attack cultural centre
8) Assess cultural landscape early
9) Prepare for the unexpected
10) Speak to the individual as well as the institution

Question 20

What are the 5 stages of a SIEM (Security Incident and Event Mgmt) process?

Answer 20

1) Detect and report
2) Verify
3) Isolate (quarantine)
4) Clean (mitigate and restore)
5) Review (analyse patterns and process activities)

Question 21

What are the 6 stages in the Lockheed Martin cyber kill chain?

Answer 21

1) Reconnaissance
2) Weaponisation
3) Delivery
4) Exploitation
5) Installation
6) Command and control

Question 22

What are the 6 Lockheed martin cyber kill chain defences?

Answer 22

1) Detect - determine whether attacker investigating options
2) Deny - prevent info disclosure and unauthorised access
3) Disrupt - stop or change outbound traffic to attacker
4) Degrade - counter attack command and control
5) Deceive - interfere with command and control
6) Contain - network segmentation changes

Question 23

What are the emerging cyber threats?

Answer 23

• More information
• More processing power
• More smaller devices
• Subscription business models
• Internet of things
• Augmented reality
• Nano technology
• Wet wiring

Question 24

What emerging threats does the IoT bring with it?

Answer 24

• Critical functionality
• Replication
• Security assumptions
• Not easily patched
• Long life cycle
• Proprietary industry specific protocols
• Outside enterprise security perimters