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The reporting of security incidents involving personal data is distinct from other types of incidents primarily due to the legal obligations imposed by data protection legislation. Such laws typically mandate that organizations report certain types of breaches involving personal data to a Supervisory Authority within a specified timeframe. This requirement is in place to ensure prompt and appropriate response to potential privacy risks affecting individuals’ rights and freedoms. Failure to comply can result in significant penalties for the organization. The reporting process also often includes notifying affected individuals, especially if there is a high risk of adverse effects on their rights and freedoms12.

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• The UK GDPR and the Data Protection Act 2018 outline the duty of organizations to report certain personal data breaches to the relevant supervisory authority, such as the ICO, within 72 hours of becoming aware of the breach1.
• The ICO’s guide on personal data breaches provides detailed instructions on how to recognize a breach, the reporting process, and the importance of having robust breach detection, investigation, and internal reporting procedures12.

Quantitative risk assessment is the process of objectively measuring risk by assigning numerical values to the probability of an event occurring and its potential impact. This method is most likely to provide objective support for a security Return on Investment (ROI) case because it allows for the calculation of potential losses in monetary terms, which can be directly compared to the cost of implementing security measures. By quantifying risks and their financial implications, organizations can make informed decisions about where to allocate resources and how to prioritize security investments to maximize ROI. This approach is particularly useful when making a business case to stakeholders who require clear, financial justification for security expenditures.

References: The use of quantitative risk assessment for supporting security ROI is consistent with the principles of Information Security Management, as it provides a structured and measurable method to evaluate and manage risks. It aligns with the Information Risk and Security Lifecycle domains, which emphasize the importance of understanding and addressing risks in a quantifiable manner12345.

The method used to target senior individuals in an organization for coercing them into actions like misdirected high-value payments is known as a whaling attack. This type of attack is a more targeted version of phishing, aimed specifically at high-ranking executives or important individuals within an organization. The attackers masquerade as a senior player at the organization and use social engineering techniques to trick the target into performing actions such as transferring money or revealing sensitive information. Whaling attacks are highly personalized and often involve extensive research on the target to make the fraudulent requestsseem legitimate and convincing. The term “whaling” is used because it refers to going after the “big fish” or “whales” of an organization, such as CEOs or CFOs, who have access to significant resources and sensitive information. References: Based on the information provided by Kaspersky’s resource center on whaling attacks1.