in Security

British Standard for information security risk revised

Posted 23 November 2017 · Add Comment

BSI, the business standards company, has revised its guidance standard for information security management systems, BS 7799-3 Guidelines for information security risk management.



BS 7799-3 specifically assists organisations regarding the risks and opportunities aspects in the internationally recognised ISO 27001 Information technology. Security techniques. Information security management systems. Requirements. BS 7799-3 provides guidance on defining, applying, maintaining and evaluating risk management processes in the information security context.

The standard is relevant to organisations which have, or are intending to have, an information security management system which conforms to ISO 27001. BS 7799-3 identifies two widely recognised approaches to risk identification and risk analysis: the scenario-based approach, where risks are identified (and assessed) through a consideration of events and their consequence; and the asset-threat-vulnerability approach, where risk identification takes into account the value of information assets and identifies applicable threats.

The standard recommends that for an organisation to increase the reliability of estimating the likelihood of a security event occurring, they should consider using team assessments rather than individual assessments; employing external sources, such as information security breaches reports; unambiguous targets, such as 'two a year', rather than vague targets and timings; and using scales with at least five categories to ascertain risk, from 'very low' to 'very high'.

BS 7799-3 accounts for risks as diverse as whether the influences of a foreign actor are a threat to the organisation; technology failure; influences of domestic crime, including fraud; and the probable skill of an attacker and the resources available to them. The standard includes dedicated sections for information security risk treatment, with guidance on how an organisation can monitor and measure their risk identification plan.

Recognising that no two organisations have identical security concerns, BS 7799-3 is applicable for all organisations – regardless of type, size or nature. Notable changes between the revised BS 7799-3 and its predecessor include conformity to the latest version of ISO 27001; the term 'risk owner' replaces 'risk asset owner'; and the effectiveness of the risk treatment plan is now regarded as being more important than the controls.

Anne Hayes, Head of Market Development for Governance and Resilience at BSI, said: “Information security is the central nervous system of any organisation. When it fails, the financial and reputational impact can be devastating for small and large organisations alike. Unsurprisingly, businesses routinely cite information security as their number one concern.

“BS 7799-3 was revised to work hand-in-hand with ISO 27001 in assisting organisations in evaluating their risk management processes. If ISO 27001 is the bread and butter of an organisation’s information security management system, BS 7799-3 is the knife to spread the butter.”

BS 7799-3 is applicable for any organisation but will be of particular interest to governance, risk and compliance personnel; security managers; operational managers; auditors; and anyone responsible for implementing the requirements of the General Data Protection Regulation in their organisation.


 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Aircraft production soars towards annual record

November reached new heights for aircraft deliveries, as both the highest month of this year so far and the best November on record.

Leonardo to lead OCEAN2020 programme

Leonardo has been awarded the lead project related to the first European Defence Found’s initiative, OCEAN2020, to boost Europe's defence capabilities, issued by the European Union under the ‘Preparatory Action on Defence Research’

Conair signs for six Q400s for conversion into multirole airtankers

Bombardier Specialized Aircraft has announced that Conair Group Inc., a provider of fixed wing aerial firefighting aircraft, has purchased six Q400 aircraft.

Audacious makes first dive

The fourth Astute class submarine, Audacious, which is being built by BAE Systems for the Royal Navy, has achieved a significant milestone by completing her first ever dive.

Rolls-Royce secures jet engine test facility in Texas

Rolls-Royce is to operate a jet engine testbed at the Alliance Airport in Fort Worth, Texas.

Smiths Detection supplying 91 terminal scanners for Moscow Sheremetyevo International Airport

Smiths Detection will supply a full range of security scanners for the new passenger Terminal B and Cargo Complex LLC (Moscow Cargo) at Moscow’s Sheremetyevo International Airport.

Aviation Africa SK18418
See us at
Aviation Africa BT18418S&P BT281117080318SMI FAVSABT2411120418FIL18 BT111017220718SMI NCWBT3110020218