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Information Security Management entails the identification of an organization’s information assets and the development, documentation, and implementation of policies, standards, procedures, and guidelines, which ensure their availability, integrity, and confidentiality. Management tools such as data classification, security awareness training, risk assessment, and risk analysis are used to identify the threats, classify assets, and rate their vulnerabilities so that effective security controls can be implemented.

Risk management is the identification, measurement, control, and minimization of loss associated with uncertain events or risks. It includes overall security reviews, risk analysis, evaluation and selection of safeguards, cost/benefit analysis, management decisions, safeguards implementation, and effectiveness reviews.

Breaches to IT security have resulted in loss or funds, market share, trust, business secret etc. Such breaches may come in the form of;

 Identity theft for E-transactions, e-mail accounts

 Breaches to logical access resulting in fraudulent orders, invoices being raised. Tampered reports like Profit and loss and financial reports can be produced

 Loss of computing services due to virus attack or intruder disruption or denial of service attack

 Confidential information being passed on to competitors, traders  etc and such information may include financial statements, product formula , confidential communications-emails linked to acquisitions, marketing strategies etc.

 Tampering with databases to hide fraud

 Tampering with databases as a sabotage strategy resulting in wrong manufacturing formulas, financial statements

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