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Codes of Conduct, In common they define expectations for how a member of…

- - - - This is important because you're giving people permission to try to access sensitive systems and files and you need to make sure they're not stolen, altered or destroyed and that no malware or backdoors have been installed
        
        This could cost the business money
    - - Loss of Personally Identifiable Information (PII)
      - Property destruction
      - Ransom demands for stolen information
      - Financial loss
        Even a minor attack has huge financial impacts
        
        Investigation
        
        Fines
        
        Even a minor attack can force a business to pay for lost or stolen data records, with an average cost of $150 per stolen record. According to research by IBM, the average cost of a data breach in the United States in 2023 was $4.45 million.
        https://www.business.com/insurance/cyber-risk/
        
        a cyber incident will directly consume a company’s resources, leading to an increased cost of doing business. In 2022, the global average cost of a data breach reached $4.35 million, while the number is more than double in the U.S., averaging $9.44 million. T
        hese expenses can include everything from ransom payments and lost revenues to business downtime, remediation, legal fees, and audit fees.
        For example, the audit fees for companies following data breaches can be about 13.5% higher than those for firms without breaches. While millions of dollars in losses can bankrupt a small company but not have much of an effect on a public company, the attackers are generally “smart” enough to cause more problems for the bigger companies. For example, ransomware attacks had a much bigger financial impact on the health care sector, with over $7.8 billion lost due to downtime alone in 2021.
        https://hbr.org/2023/05/the-devastating-business-impacts-of-a-cyber-breach
        
        Additionally, these costs can pass on to customers and investors, limiting a company’s ability to maintain its market position. For example, 60% of organizations that have experienced data breaches have raised their prices. On average, companies experiencing a significant data breach incident underperform the NASDAQ by 8.6% after one year, and this gap can widen to 11.9% after two years.
        
        Reputational damage with customers
        
        Legal fees
        
        Remediation costs
        
        Ransom costs
        
        Audit fees
        
        Shutting down systems or system failure
        Resulting system downtime and lost revenues
        
        Restoring systems to a running-state
      - Threat could come interally or externally,
        
        internally from users with authorised access who may be
        poorly trained or lack awareness
        intentionally use their access in an adversarial way
        
        These are some common internal cyber risks to be aware of:
        
        Employee sabotage and theft: Employee fraud and disruption can be committed by a current or former employee who accesses your systems to obtain information to harm the company. Some information may be used to poach employees, while other information could damage your business if it’s disclosed in public forums.
        
        Unauthorized access: Staffers could obtain access to systems they shouldn’t have access to. They may change the permissions of others or deactivate network security tools.
        
        Unsafe business practices: When network servers are left in unlocked rooms or users are not properly logging off devices, businesses are left vulnerable to attack.
        
        Accidental loss or disclosure: Team members may unwittingly disclose sensitive information. This could be by accidentally adding an unauthorized person to a confidential email chain or leaving a company laptop at a coffee shop.
        
        BYOD (bring your own device): Many businesses would not dream of allowing staff to bring in their own devices to connect to the company network because of the security risks involved, but other organizations are OK with it. Beware, your network is doubly at risk if you allow this: First, poor security on the team member’s device might give hackers another way into your system. Second, any malware on the device may be transferred to your network. These are often referred to as “end-point attacks.
        
        Externally, it can be difficult to tell how far your defences have been breached, could be weeks or months before you realise.
        
        These are the most common external cyber risks:
        
        Password theft: Despite decades of warnings, many people, including system administrators, still use easy-to-guess passwords. Passwords can also be stolen via phishing attacks and malware like keyloggers.
        
        Phishing schemes: Nefarious individuals send fraudulent messages that convince unsuspecting employees to click on links within them and disclose personal or proprietary information, such as passwords and payment details. Phishing attacks can also happen on the phone with, for example, hackers pretending to be from a company’s IT department and asking one of your employees for their network access credentials. [Read related article: How Companies Are Detecting Spear Phishing Attacks Using Machine Learning]
        
        Malware attacks:These are viruses that attack your IT systems and can potentially execute unauthorized actions. Standard examples include keyloggers that transmit individual users’ keystrokes back to hackers. Malware is often downloaded during a “drive-by attack,” which involves the automatic download of malware to a person’s device when they visit an infected website.
        
        Zero-day exploit: No matter how well programmed, every app, website and piece of software has vulnerabilities. Zero-day exploits are hacks that cyber criminals discover and software developers currently don’t know exist.
        
        Inadequate patch management: When software developers become aware of vulnerabilities, they release patches to fix them. However, your company is protected only if you download and install the patches.
        
        SQL injection: Login pages, search boxes and feedback forms on websites use SQL. So do some HTTP headers and cookies. One way for cyberattackers to get into your system is to insert malicious SQL queries into a form that can later be used to manipulate or destroy a company database.
        
        Formjacking: These are similar to SQL injection, but instead of targeting the forms on a site, they inject malicious JavaScript code into online forms on legitimate websites to grab sensitive details like personal and financial data.
        
        Traffic interception: It’s possible for cybercriminals to intercept and monitor data that’s sent over a computer network. They can capture a wide range of information, from personal details to login credentials.
        
        “Man in the middle” attacks: Similar to traffic interception, this is when a hacker fools a user into logging on to their network. For example, if a member of your team is in a public area, like a coffee shop, and attempts to connect to the shop’s free Wi-Fi, they may actually be logging on to a bogus network set up by a bad actor.
        
        IoT (Internet of Things) attacks: Fridges, printers, security cameras and more now connect via Wi-Fi to computer networks. Often, the security on these devices is low because companies don’t see why a hacker would target them. The reason they do is because they can use them as funnels to gain access to your wider network.
        
        Malvertising:This is a type of malware that redirects users to malicious websites. Code is deployed on a publisher’s website that mines data about users for further ad targeting.
        
        Cross-site attacks: These attacks take advantage of vulnerabilities in web apps to run malicious scripts in users’ browsers. For example, if you allow customers to talk to each other via an online forum, a hacker might insert bad code into a forum post that then triggers an action in the browser of another customer using the forum. They can hijack user accounts with this approach, including users with admin privileges.
        
        Water hole attacks: Water hole attackers go after commonly used resources shared by specific groups of users. For instance, many people in your company may log in to a social media network like LinkedIn or a vendor portal. Cyberattackers can insert malicious scripts into these sites, infecting your users’ computers when they next visit them.
        
        DDoS attacks:A distributed denial-of-service (DDoS) attack disrupts the normal traffic to a website. This is a type of malware where a botnet overwhelms your website and prevents consumers from using it.
        
        Cryptojacking: This is when a hacker uses your computing resources, usually via malware, to mine for cryptocurrency. This can damage your PC hardware, slow down your network and substantially increase your electric bill.
        
        Ransomware: A type of cyber extortion, this kind of malware locks up system operations and renders websites and networks unusable until a ransom is paid. This offense is becoming more common, as many cyber insurance carriers find that paying the ransom is less expensive than remediating the attack. [Learn how to protect your business from ransomware.]
        
        Trojan virus: Trojan viruses disguise themselves as legitimate programs. When installed, they can create backdoors to download other malware or steal information.
        
        Supply-chain attacks: Companies sometimes require clients to place orders with them or send invoices for work done via a custom app that’s updated regularly for various reasons. In a supply-chain attack, hackers target this type of program so hundreds or thousands of businesses and clients may end up downloading the infected app when a new update is rolled out.
        https://www.business.com/insurance/cyber-risk/
    - - Codes of conduct, like those from ISC2 and BCS, are essential in data security for several reasons:
      - Establishing Standards: They set clear professional standards that guide behaviour, ensuring consistency and accountability among practitioners.
      - Promoting Ethical Behaviour: By outlining ethical principles, these codes help prevent misconduct, fostering trust among colleagues, clients, and the public.
        
        Outlining ethical principles in codes of conduct helps promote ethical behavior and prevent misconduct in several key ways:
        
        Clear Expectations: By defining specific ethical standards, codes provide a framework that guides professionals in their decision-making. This clarity helps individuals understand what is acceptable and what is not.
        
        Accountability: When ethical principles are codified, individuals can be held accountable for their actions. This accountability deters misconduct, as members know they may face consequences for violations.
        
        Consistency: A well-defined code ensures that all members adhere to the same ethical standards, fostering a sense of fairness and equality. Consistency in applying these principles helps build trust among colleagues and clients.
        
        Promoting Integrity: By emphasizing values like honesty, respect, and responsibility, codes encourage professionals to act with integrity, reinforcing the importance of ethical behavior in their daily activities.
        
        Encouraging Reporting: When ethical guidelines are in place, individuals are more likely to report unethical behavior, knowing there are established procedures for handling complaints. This promotes a culture of transparency.
        
        Building Trust: Adherence to ethical principles enhances the reputation of both individuals and organizations, fostering trust among colleagues, clients, and the public. Trust is crucial in data security, where sensitive information is often at stake.
        
        Guiding Ethical Dilemmas: Ethical codes provide guidance in complex situations where the right course of action may be unclear. This support helps professionals navigate challenges while maintaining ethical integrity.
        
        Reinforcing Professional Identity: A strong ethical framework contributes to a shared sense of identity and purpose among professionals, encouraging them to uphold the values of their field.
        
        Overall, ethical principles serve as a vital foundation for behavior, fostering a culture of integrity that benefits both individuals and the broader community in the field of data security.
      - Encouraging Professional Development: They emphasize the importance of continuous learning and competence, ensuring that professionals stay updated on technological advancements and legal requirements.
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        Facilitating Reporting and Accountability: They provide mechanisms for reporting unethical behaviour, promoting a culture of transparency and responsibility.
      - Protecting Stakeholders: By prioritizing public interest and the rights of third parties, codes help safeguard sensitive information and maintain data privacy.
        
        Stakeholders benefit from professional codes of conduct held by employees in several significant ways:
        
        Increased Trust: Codes of conduct foster a culture of transparency and accountability, enhancing trust between employees, clients, partners, and the public. Stakeholders are more likely to engage with organizations they perceive as ethical.
        
        Improved Decision-Making: With clear ethical guidelines, employees are better equipped to make informed decisions that align with organizational values. This leads to outcomes that consider the interests of all stakeholders.
        
        Risk Mitigation: Codes help identify and manage ethical risks, reducing the likelihood of misconduct that could harm stakeholders, such as data breaches, legal violations, or reputational damage.
        
        Enhanced Reputation: Organizations with robust codes of conduct are often viewed more favorably in the marketplace. A strong reputation attracts clients, investors, and talent, benefiting all stakeholders involved.
        
        Consistent Treatment: Codes promote fairness and equality, ensuring that all stakeholders are treated consistently and justly, regardless of their relationship with the organization.
        
        Encouragement of Ethical Behavior: When employees adhere to a code of conduct, it reinforces ethical behavior throughout the organization, benefiting stakeholders who rely on ethical practices for their interactions.
        
        Responsiveness to Concerns: Codes often include mechanisms for reporting unethical behavior. This responsiveness allows stakeholders to voice concerns and ensures that issues are addressed promptly, fostering a healthier relationship.
        
        Commitment to Continuous Improvement: By emphasizing professional development, codes encourage employees to stay updated on best practices, ultimately benefiting stakeholders through improved service delivery and innovation.
        
        Long-Term Stability: Organizations that uphold ethical standards tend to have more sustainable practices, leading to long-term success and stability that benefits all stakeholders involved.
        
        Overall, professional codes of conduct create a framework that enhances ethical behavior, builds trust, and fosters positive relationships among all stakeholders, ultimately contributing to the success and integrity of the organization.
      - Enhancing Reputation: Adhering to a recognised code elevates the credibility of both individuals and organisations in the field, contributing to a more trustworthy profession.
      - Mitigating Risks: By guiding professionals on ethical dilemmas and conflict of interest situations, codes help mitigate risks associated with data breaches and unethical practices.
        
        Professional codes of conduct play a crucial role in mitigating risks and guiding professionals through ethical dilemmas and conflicts of interest in several ways:
        
        Mitigating Risks
        
        Establishing Clear Guidelines: Codes provide explicit guidelines on acceptable behavior, helping professionals understand their responsibilities and the boundaries of ethical conduct. This clarity reduces the likelihood of missteps that could lead to ethical violations or data breaches.
        
        Encouraging Accountability: By outlining consequences for unethical behavior, codes promote a culture of accountability. Professionals know they can be held responsible for their actions, which can deter potential misconduct.
        
        Promoting Transparency: Codes encourage open communication about ethical concerns and dilemmas. This transparency helps identify and address issues before they escalate into serious risks, such as data breaches or legal violations.
        
        Fostering a Culture of Ethics: A strong ethical culture, reinforced by the code, encourages employees to prioritise ethical decision-making in their daily work, reducing the risk of unethical practices.
        
        Guiding Ethical Dilemmas and Conflicts of Interest
        
        Providing a Framework for Decision-Making: Codes often include principles that help professionals weigh their options when faced with ethical dilemmas. This structured approach allows for thoughtful consideration of the potential impact of decisions on stakeholders.
        
        Identifying Conflicts of Interest: Codes typically address situations that could lead to conflicts of interest, guiding professionals on how to recognize and manage these situations effectively. This proactive stance helps prevent unethical behavior.
        
        Encouraging Consultation: Many codes advocate for seeking advice or reporting concerns when faced with ethical dilemmas. This encourages collaboration and collective problem-solving, leading to more ethical outcomes.
        
        Reinforcing Professional Integrity: Codes remind professionals of their duty to uphold the reputation of their field. This sense of responsibility can guide individuals to act ethically, even in challenging situations.
        
        Mitigating Risks Associated with Data Breaches and Unethical Practices
        
        Emphasizing Compliance: Codes often highlight the importance of adhering to relevant laws and regulations, which helps prevent data breaches by ensuring that professionals are aware of their legal obligations.
        
        Promoting Best Practices: Codes typically include best practices for data handling, security measures, and privacy protections. Adhering to these guidelines can significantly reduce the risk of breaches.
        
        Encouraging Reporting Mechanisms: By providing channels for reporting unethical behavior or security concerns, codes help organizations identify vulnerabilities early and take corrective actions before breaches occur.
        
        Training and Awareness: Codes often promote continuous education on ethical standards and security practices, ensuring that professionals are well-equipped to recognize and respond to potential risks effectively.
        
        In summary, professional codes of conduct help mitigate risks and guide professionals through ethical dilemmas and conflicts of interest by establishing clear guidelines, promoting accountability, fostering a culture of ethics, and emphasizing compliance and best practices. This framework ultimately contributes to reducing the likelihood of data breaches and unethical behavior in the workplace.
      - Overall, these codes serve as a foundation for ethical decision-making and professional integrity in the complex landscape of data security.