How to address your IT infrastructure vulnerabilities with a cloud risk assessment framework How to address your IT infrastructure vulnerabilities with a cloud risk assessment framework

How to address your IT infrastructure vulnerabilities with a cloud risk assessment framework

  • date-ic 06 Mar 2024
  • time-ic 4 minutes read

Cloud computing has revolutionised business operations, enabling unprecedented scalability, flexibility, and cost-efficiency. However, as more and more organisations migrate to the cloud, they are also met with increasingly complex challenges—especially in cybersecurity.

According to IBM, the average cost of a data breach in 2023 was $4.24 million, and to make matters worse, this cost was 19% higher where cloud-based environments were concerned.

How can businesses deal with the volatile and complicated cloud risk landscape? A structured approach is crucial, and what better way to structure your approach than with a cloud risk assessment framework?

What a cloud risk assessment framework offers

Using a framework enables businesses to take a more organised approach to assessing the risks posed to their IT infrastructure, allowing them to identify and analyse potential risks—and implement measures to mitigate them.

With a carefully executed cloud risk assessment, businesses can understand the current state of their cloud security and potential vulnerabilities, prioritise critical risks, incorporate best practices and industry standards into risk mitigation strategies, and continuously monitor, measure, and improve cloud security performance.

Some of the most widely used cloud risk assessment frameworks in this day and age are:

ENISA

The Cloud Computing Risk Assessment and the Cloud Computing Information Assurance Framework developed by the European Agency for Cybersecurity offer a comprehensive approach to identifying, assessing, and mitigating cloud security risks while providing guidelines for choosing a cloud provider.

It also aligns with EU data protection and privacy regulations, which means it is ideal for businesses operating in or with entities in the EU. It is also a great framework to incorporate if the business deals with sensitive data.

ISACA

The Cloud Computing Management Audit/Assurance Program,  Cloud Computing Business Continuity Management Audit/Assurance Program, and the Cloud Computing: Business Benefits With Security, Governance and Assurance Perspectives white paper developed by the Information Systems Audit and Control Association provide a set of audit and assurance guidelines, best practices, and recommendations for cloud governance, security, and continuity.

Based on COBIT 5, this framework is ideal for organisations looking to implement a strong cloud governance and management system.

IEEE

The Risk Assessment Framework for Cloud Computing, the “Standards for Cloud Risk Assessments – What’s Missing?” paper, and the “Risk Management and Risk Assessment at ENISA: Issues and Challenges” paper published by the Institute of Electrical and Electronic Engineers present an innovative cloud risk assessment framework that integrates qualitative and quantitative assessment techniques, gap analysis, and even a comparison of existing standards and frameworks.

This framework addresses the limitations of existing cloud risk assessment practices and enables businesses to take a future-facing, scientific approach to cloud risk assessment.

Other notable frameworks

Businesses operating in Australia, in particular, must align with specific laws, regulations, and guidelines like the Privacy Act 1988, the Australian Government Information Security Manual (ISM), and the Australian Cyber Security Centre (ACSC) cloud security guidance.

In addition, according to the ACSC, some of the frameworks Australian businesses need to be aware of include the Cloud Assessment and Authorisation Framework, the Cloud Computing Security Considerations, and the Cloud Services Certification Program. These frameworks align with the Australian Government Protective Security Policy Framework (PSPF) and the ISM, which makes them ideal for Australian businesses dealing with sensitive or classified information.

Addressing IT infrastructure vulnerabilities with a framework

Here is how these frameworks play a role in addressing your IT infrastructure vulnerabilities:

  • They provide a holistic view of the cloud security landscape covering core aspects, such as data, applications, infrastructure, identity, access, governance, and incident response.
  • They enable a consistent and repeatable process for cloud risk assessment, customisable to specific business needs and preferences.
  • They facilitate communication and collaboration among stakeholders, such as cloud providers, auditors, regulators, and the business, through common terminology, criteria, and metrics.
  • They help align cloud security objectives with strategic business goals and relevant laws, regulations, and standards.
  • They help with the selection and evaluation of cloud providers and cloud services by providing a set of assurance criteria and guidelines to verify their security capabilities.
  • They enable the implementation and optimisation of cloud security controls by providing a set of best practices to enhance cloud security and compliance.
  • They help monitor and improve cloud security performance by providing methods to measure and report on security outcomes and incidents.

The new IT landscape is unpredictable—address its risks with a cloud risk assessment framework

The current IT landscape is rife with risks, especially with the increased adoption of cloud technologies across the board for businesses. Risk assessment frameworks are instrumental in helping businesses deal with the various risks that cloud environments pose.
Assessing your CSP’s offerings, understanding the shared security model, adopting a standardised framework like the ones mentioned above, educating your staff on the essentials of cloud security, and even opting for cyber security services where your knowledge is lacking will go a long way in enabling a resilient IT infrastructure.

How to address your IT infrastructure vulnerabilities with a cloud risk assessment framework

  • 06 Mar 2024
  • 4 minutes read
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Cloud computing has revolutionised business operations, enabling unprecedented scalability, flexibility, and cost-efficiency. However, as more and more organisations migrate to the cloud, they are also met with increasingly complex challenges—especially in cybersecurity.

According to IBM, the average cost of a data breach in 2023 was $4.24 million, and to make matters worse, this cost was 19% higher where cloud-based environments were concerned.

How can businesses deal with the volatile and complicated cloud risk landscape? A structured approach is crucial, and what better way to structure your approach than with a cloud risk assessment framework?

What a cloud risk assessment framework offers

Using a framework enables businesses to take a more organised approach to assessing the risks posed to their IT infrastructure, allowing them to identify and analyse potential risks—and implement measures to mitigate them.

With a carefully executed cloud risk assessment, businesses can understand the current state of their cloud security and potential vulnerabilities, prioritise critical risks, incorporate best practices and industry standards into risk mitigation strategies, and continuously monitor, measure, and improve cloud security performance.

Some of the most widely used cloud risk assessment frameworks in this day and age are:

ENISA

The Cloud Computing Risk Assessment and the Cloud Computing Information Assurance Framework developed by the European Agency for Cybersecurity offer a comprehensive approach to identifying, assessing, and mitigating cloud security risks while providing guidelines for choosing a cloud provider.

It also aligns with EU data protection and privacy regulations, which means it is ideal for businesses operating in or with entities in the EU. It is also a great framework to incorporate if the business deals with sensitive data.

ISACA

The Cloud Computing Management Audit/Assurance Program,  Cloud Computing Business Continuity Management Audit/Assurance Program, and the Cloud Computing: Business Benefits With Security, Governance and Assurance Perspectives white paper developed by the Information Systems Audit and Control Association provide a set of audit and assurance guidelines, best practices, and recommendations for cloud governance, security, and continuity.

Based on COBIT 5, this framework is ideal for organisations looking to implement a strong cloud governance and management system.

IEEE

The Risk Assessment Framework for Cloud Computing, the “Standards for Cloud Risk Assessments - What’s Missing?” paper, and the “Risk Management and Risk Assessment at ENISA: Issues and Challenges” paper published by the Institute of Electrical and Electronic Engineers present an innovative cloud risk assessment framework that integrates qualitative and quantitative assessment techniques, gap analysis, and even a comparison of existing standards and frameworks.

This framework addresses the limitations of existing cloud risk assessment practices and enables businesses to take a future-facing, scientific approach to cloud risk assessment.

Other notable frameworks

Businesses operating in Australia, in particular, must align with specific laws, regulations, and guidelines like the Privacy Act 1988, the Australian Government Information Security Manual (ISM), and the Australian Cyber Security Centre (ACSC) cloud security guidance.

In addition, according to the ACSC, some of the frameworks Australian businesses need to be aware of include the Cloud Assessment and Authorisation Framework, the Cloud Computing Security Considerations, and the Cloud Services Certification Program. These frameworks align with the Australian Government Protective Security Policy Framework (PSPF) and the ISM, which makes them ideal for Australian businesses dealing with sensitive or classified information.

Addressing IT infrastructure vulnerabilities with a framework

Here is how these frameworks play a role in addressing your IT infrastructure vulnerabilities:

  • They provide a holistic view of the cloud security landscape covering core aspects, such as data, applications, infrastructure, identity, access, governance, and incident response.
  • They enable a consistent and repeatable process for cloud risk assessment, customisable to specific business needs and preferences.
  • They facilitate communication and collaboration among stakeholders, such as cloud providers, auditors, regulators, and the business, through common terminology, criteria, and metrics.
  • They help align cloud security objectives with strategic business goals and relevant laws, regulations, and standards.
  • They help with the selection and evaluation of cloud providers and cloud services by providing a set of assurance criteria and guidelines to verify their security capabilities.
  • They enable the implementation and optimisation of cloud security controls by providing a set of best practices to enhance cloud security and compliance.
  • They help monitor and improve cloud security performance by providing methods to measure and report on security outcomes and incidents.

The new IT landscape is unpredictable—address its risks with a cloud risk assessment framework

The current IT landscape is rife with risks, especially with the increased adoption of cloud technologies across the board for businesses. Risk assessment frameworks are instrumental in helping businesses deal with the various risks that cloud environments pose.
Assessing your CSP’s offerings, understanding the shared security model, adopting a standardised framework like the ones mentioned above, educating your staff on the essentials of cloud security, and even opting for cyber security services where your knowledge is lacking will go a long way in enabling a resilient IT infrastructure.