SISA's Webinar on New Guidelines from PCI Council on Risk Assessment

SISA Monthly Webinar – January 2013
www.sisainfosec.com
Presented by www.sisainfosec.com and Free Formal Risk Assessment tool www.smart-ra.com

Housekeeping

• Questions are
welcome at all
times during the
webinar.
• Please type into
the chat window.


Introductions

About SISA

Customers in 25 Countries
Services – Training –Products
•SISA Information Security Inc., Americas
•SISA Information Security Pvt Ltd, Asia
•SISA Information Security WLL, EMEA
Our customers are some of the world’s biggest Banks,
Merchants, IT, BPOs and Telecoms


About SISA

Consulting Training Products
•CPISI – PCI DSS
PCI DSS Implementation
•SMART-RA.COM – Formal
•PCI QSA Validation Services
Risk Assessment tool
(PCI-DSS) •CISRA – Risk Assessment
•PCI ASV Scanning Services Implementation
(PCI-DSS)
•PCI Assurance Services (SAQ) •OCTAVE (SEI-CMU) Security
PA DSS Risk Assessment Workshop
•PA QSA Validation Services
(PA-DSS) •ISO 27001 Implementation
Advisory Workshop
•Risk Assessment (IS-RA)
•Privacy and Standards •Business Continuity
Compliance (ISO 27001, Management Workshop
GLBA, HIPAA, DPA,
COBITFISMA, BS 25999) •Secure Coding in Dot-Net
•Application Pen Test and
Code Review •Awareness Sessions
•Network VA and Pen Test
•Forensics


About Dharshan
DHARSHAN SHANTHAMURTHY
• CEO, SISA Information Security

• Proposer and Lead - Special Interest Group on Risk
Assessment with the PCI Council

• Dharshan has been a lead trainer for over 125 information
security workshops on varied topics including, Data Protection,
Compliance, Risk Assessment and Application Security

• Dharshan has been an evangelist of formal risk assessment and
has developed a free formal risk assessment tool www.smart-
ra.com.

• Linkedin:
http://www.linkedin.com/in/dharshanshanthamurthy


SISA and the Risk
Assessment SIG
• Special Interest Groups (SIG) at the PCI
Council

• SISA’s role in the Risk Assessment SIG

• Drafting the Risk Assessment Guidelines
Document


Intent of the Guidelines
Document
• Objective
– Supplementary Guidance for Requirement 12.1.2
– Does not replace any PCI DSS requirement

• Target Audience
– Any organization that stores, processes, transmits
CHD
– Eg. Merchants, Service Providers, Banks, Issuers


Risk Assessment and PCI
Compliance

Understanding Risk
Risk is a consideration Who
of the who, how and why
of things going wrong.
• Who – Asset Risk
• How – Threat
• Why – Vulnerability Why How

• Some Definitions

• Risk = LHOT x Impact
• Risk = f (AV, LHOT, LOV)


Formal Risk Assessment

• Formal: A measurable and comparable
methodology

• Structured: following a defined and approved
process.

• PCI DSS names the following: ISO 27005, NIST SP
800-30, OCTAVE


Requirement 12.1.2
Requirement 12.1.2
mandates formal
risk assessment on
an annual basis.

But
•What is the actual intent behind this
requirement?
•Can risk assessment help simplify compliance?

Benefits of Risk
Assessment
•Identify areas where stored CHD is not fundamental to
PCI Scope business and can be removed
Reduction •Segmentation of sensitive CDE from non-sensitive parts
of the network

Proactive •Keep pace with changing business environment and
Threat identify new threats
Identification •Make decisions on future resource investments

Prioritized •Most critical risks are addressed first
Mitigation


Risk Assessment and
the Prioritized Approach
• PCI DSS Prioritized Approach
– A series of 6 Milestones to help organizations pursuing
PCI compliance for the first time
– Also relevant to PCI re-certifications, as business
landscapes are subject to change over the year

• Milestone 1
– a formal risk assessment process is to be
implemented to identify threats and
vulnerabilities

Continuous Risk
Assessment
• Keep up with changing business landscape
– New business processes, departments
– Acquisitions and mergers
– New ventures

• Accurate Identification of Entities
– Since data is appended to the RA as and when it is
available, the identification phase of the RA is done
accurately.


Implementation

Choosing the right RA
Methodology
• Widely Accepted
ISO Methodology
27005 • Technology, People
and Process RA

NIST SP • Most suited for
Technology RA
800 30 • Aligned with
(Rev 1) Common Criteria

• 8 processes
• Most suited for
OCTAVE process RA
• Based on people’s
knowledge

Implementation: Team
Building
Representatives from all departments
• HR, Marketing, IT, Information Security, etc.

Led by a person with knowledge on
• PCI DSS
• Risk assessment methodology used by the
organization

Implementation: Risk
Identification
Context Establishment
• Organizational Hierarchy, business processes, CHD
flow.

Asset Identification
• Asset Owner, Asset Value must be identified
• All Payment Channels must be taken as assets


Identification
Threat Identification
• Different Perspectives must be taken into account
• Measurement: Capability, Intent, Relevance, Likelihood
of Occurrence, Impact.

Vulnerability Identification
• Organizational Vulnerabilities: Policy-Procedure review
• Technical Vulnerabilities: VA-PT, firewall rule review,
secure code review

Profiling
Risk Treatment
• Reduction
Threat • Transference
•Avoidance
•Acceptance

Asset Risk Evaluation
•Quantitative
•Qualitative
Vulner
Risk
ability


Third Party Risks

• Third Parties may be Service providers, BPOs,
Third Party Merchants, etc.
• Eg. Application developers, Data center providers,
Web hosting providers, etc.

• Third Parties may
• Introduce Risk
• Manage Risk
• Share Risk

Reporting

• Version History
• Executive Summary


Critical Success Factors
• Correct Identification
• Proactive Approach
• Keep it Simple
• Training


Next Webinar
• Practical Implementation of Formal Risk
Assessment (for PCI, HIPAA, ISO 27001)
(Based on the theoretical concepts covered in
today’s webinar)

• Date: 5th February, 2012
• 9:00 to 10:00 am PST


Questions


Thank You
Please send us your feedback to
praveen.v@sisainfosec.com


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