Part 1 - An Overview of Incident Response Policy

Video Activity

This lesson offers an introduction into incident response policy. An incident response policy is important as it guides the Incident Response Team on what actions need to be taken during certain incidents. This lesson touches upon: · Policy creation and implementation · Defining risk and deciding on what needs security · Calculating loss

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Time
7 hours 56 minutes
Difficulty
Advanced
CEU/CPE
7
Video Description

This lesson offers an introduction into incident response policy. An incident response policy is important as it guides the Incident Response Team on what actions need to be taken during certain incidents. This lesson touches upon: · Policy creation and implementation · Defining risk and deciding on what needs security · Calculating loss

Video Transcription
00:03
>> Hello. Welcome to Cybrary.
00:03
My name is Max Alexander,
00:03
and I will be your subject matter expert for
00:03
incident response, and advanced forensics.
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Today, we're going to talk about
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incident response policy.
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The first thing we're going to talk
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about is the creation or
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implementation of policy, and procedures.
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A lot of organizations,
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especially if you're just getting started,
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you may not have an adequate policy, or procedure.
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It's important to clarify
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policies, and procedures so individuals who
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are joining your incident response team will
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have a direction, and guidance of where they should go.
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Basically, incident response policy will guide
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the incident response team of
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what actions they should take during incidence.
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The policy should also place a higher priority on
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incidents that pose a greater risk to the organization.
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Essentially, if you're having all types of
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incidents, or all kinds of incidents,
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you're not going to want to wait
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>> every incident equally.
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>> Obviously, certain incidents would
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have a higher priority than others.
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Maybe a DDoS attack is
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something you would want to devote a lot of time,
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money, resources, and energy,
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into trying to investigate, and remediate,
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whereas maybe a spam email wouldn't want
00:03
the full force of the incident response investigation.
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The response should also correspond to the priority
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of the incident, and the risk
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for the overall organization.
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Again, that's just going back
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and saying that if it's not really that big of a risk,
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why bother devoting all of that time, and
00:03
money into investigating something
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that's more or less trivial.
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Defining risk, and deciding what needs security,
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that should be the paramount task
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in your risk assessment policy.
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Ideally, we would want to secure
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everything, and anything that we
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could if money were no object,
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but essentially,
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what a lot of organizations will be
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constrained by is money, and time.
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Using this security Uber Alles method is not always
00:03
the best way to go about securing
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things because we do have resource constraints.
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We essentially can't secure everything,
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and it does not provide the benefit for the cost.
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We have to understand
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what is this we want to protect that we value the most.
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That's going to fall under asset valuation.
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In order to do asset valuation,
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we have to look at the total cost of
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an asset to include the purchase price,
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development, and maintenance cost, advertising cost,
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cost for support, repair,
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and replacement as well as the cost
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due to loss of reputation, and so on.
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Essentially, it is just asking if this asset
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were to be destroyed, or you had to replace this asset,
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you're having to think of all of the total cost
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that it would require to replace that asset,
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and that's keeping in mind
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what we talked about previously,
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is that there may be some hidden cost as well.
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If you're heading to replace certain assets,
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trying to think of the total cost
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of research, and development,
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media attention, and all of
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those things that you may not necessarily think
00:03
up to be learned, and replace that asset.
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The next thing that we're going to talk
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about when we're looking at how to
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secure, and what needs security is defining a threat.
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Threat is a person, or a thing that is
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likely to cause danger, or damage.
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That could be an employee who doesn't have
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a good idea of
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information security, and clicks on an email,
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it could be an external threat,
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such as a hacker, or someone who wants to
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break into your building, and steal your files,
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all of those things would
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necessarily be considered threats.
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Then vulnerability is something
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that is open to attack, harm, or damage.
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It could be maybe an unpatched operating system
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or an unpatched flaw that you have in software.
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It could be a lock on a door
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>> that doesn't work properly.
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>> Those are vulnerabilities.
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Then lastly is risk.
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Risk is going to be defined as
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the possibility that a threat
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will exploit that vulnerability.
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What is the possibility that
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someone in your office might click on a link
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that downloads some malicious software, and
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wipes out their laptop, and puts ransomware on it?
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Or what is the risk that some hacker is going
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to exploit that vulnerability
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in your unpatched software, and destroy your system?
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[NOISE] How do we calculate loss?
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Loss would essentially be able to help guide
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the organization on prioritizing
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what needs to be protected, and what doesn't.
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Exposure factor is the first thing
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that we would have to look at.
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An exposure factor is defined as the percent
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of loss of an asset if the risk materializes.
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That's essentially expressed in
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a numerical fashion of 0.0,
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which is nothing, to 1.0,
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which would be 100 percent.
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Then the single loss expectancy.
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Single loss expectancy is the cost of
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a single realized risk against an asset,
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and that's expressed in a dollar sign.
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When you look at single loss expectancy,
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that's essentially saying,
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if this risk were to occur,
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how much damage do I think
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>> that I'm going to experience?
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>> Then the annualized rate of occurrence is
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the frequency occurrence of
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the type of incident occurring.
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1.0 is going to equate to one time a year,
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2.0 is going to equate to two times a year,
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0.1 is going to be one time in 10 years etc.
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That just helps you calculate
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the frequency of something occurring.
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Then your annualized loss expectancy.
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That's going to be calculated by multiplying
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your single loss expectancy
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with your annualized rate of occurrence.
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For instance, if you had a single loss expectancy of
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$75,000, and you were
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expecting that to occur twice within that year,
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then essentially you would end up
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with $150,000 of damage.
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Likewise, if you had something that was $75,000 of
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damage, and you were expecting that to
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occur once in 100 years,
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you would have $75 for your annualized loss expectancy.
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What you're going to do with
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those numbers is essentially,
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you're going to look at how much
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>> it would cost to secure
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>> something in order to prevent that from occurring.
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You're looking at trying to prevent
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that last example that's
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expected to cost you a loss of $75 a year,
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but you're essentially devoting
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$100,000 into preventing that loss.
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That's not a very good return on investment.
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You never want the amount of
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resources, and time that you're devoting to
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something to cost more
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than you expect it to cost your business.
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