The Three Pillars of Product Security Risk Management

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The Three Pillars of Product Security Risk Management

In today’s digital era, businesses rely extensively on the internet to reach out to new customers and locations, generate new business models, and improve operational efficiencies. However, with the rise in the number and sophistication of cyber threats and attacks, it’s more important than ever for them to understand the risks and countermeasures needed to reap the benefits of cyberspace adoption.

In many organizations, there’s a missing link in their approach to product security. This missing link poses risks that jeopardize the creation of business value. In the current threat landscape, security necessitates a holistic approach that encompasses both software and hardware – an approach that many enterprises lack. Unfortunately, this results in product vulnerabilities and poor product security, necessitating post-deployment repairs and reputational damage management, all of which lower business value.

It’s not that security teams are not aware of the problem; rather, software and hardware operations are not integrated in a way that successfully balances security and speed. Secure coding, secure testing, and risk assessment are three critical pillars of a unified risk management approach that can assist increase product security across the company. Companies want to move swiftly, get their products and services to market, and maintain security. By designing this method ahead of time, businesses can reduce the security risks caused by product flaws.

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Adding software security to hardware

Traditionally, software security has focused on layers atop the operating system, such as mobile and cloud apps. The software layer is now extending into the hardware layer, thanks to the growth of the internet of things (IoT) devices and the integration of information and operational technology environments such as industrial control systems utilized in critical infrastructure.

Attackers are attempting to access the hardware layer in order to circumvent all higher-level security mechanisms. For example, attackers can locate devices with vulnerable firmware code, allowing them to gain access to a system and exfiltrate data or inflict other harm. In many ways, hardware is its own domain, but companies can begin to contribute to bringing hardware into the picture by applying a software security approach to the firmware programmed into the hardware, harmonizing risk assessments, and boosting security from the bottom up.

Also Read: Defending Against Adversarial AI with Deep Learning

Unified risk assessments

The ability to link unified risk management to business value is crucial to its implementation. Businesses, regardless of their industry, will encounter vulnerabilities, attack vectors, and other situations that necessitate security risk mitigation. However, with a rapidly changing infrastructure, security teams can’t do everything, so threat management needs to be prioritized. And that priority mechanism is triggered by a risk threshold set by the company.

Organizations should consider automating as many processes as feasible while also repurposing existing workflows and tools, such as code scanners and threat modeling techniques. Programmers should be instructed on how to include security into their DevOps processes and maintain it throughout the CI/CD pipeline.

In today’s computing environment, business value is essentially determined by two factors: risk and speed. Organizations can construct a uniform set of controls by merging the pillars of coding, testing, and risk assessments to expedite risk assessments and remediation across the infrastructure while still allowing software development and deployment to move swiftly. This method allows security to be built into the product development process from the beginning, reducing risk and increasing economic value.

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