Cybercrimes are becoming more frequent, more sophisticated, and more costly. Organizations that take security seriously see their reputations tarnished, customers scared away, and profits savaged. Cybercrime is big business. Cyberdefense is an even bigger business. In this blog, we’ll be taking a close look at one of the best ways to fight cybercrime: threat modeling and the Process associated with it.
Threat modeling, which can be considered an early form of penetration-testing, is a structured way to identify risks to network security before the network or application becomes fully operational. Additionally, threat modeling allows one to identify plausible vulnerabilities and controls to be appropriately documented and addressed.
What is Threat Modeling
Threat modeling may optimize network security by locating weak spots, identifying objectives, and developing countermeasures to prevent or mitigate the consequences of attacks against the corporate.
The best practice is to develop a threat modeling at the beginning of the project, which saves time. This way, threats are often identified sooner and addressed before they become a problem.
The Threat Modeling Process
Threat modeling defines a Corporate’s assets, identifies each application’s function within the grand scheme, and assembles a security profile for every application. The method identifies and prioritizes potential threats and then documents the harmful events and actions to resolve them.
Or, to place this in lay terms, threat modeling is the act of taking a step back, assessing your organization’s digital and network assets, identifying soft spots, determining what threats exist, and arising with plans to guard or recover.
Why security is essential in threat modeling?
According to this piece from Security Boulevard, cybercrime is a real time-suck for online communities, citing several experts who say breaches are growing in size and illicit takeovers of social media accounts are on the rise. From that report comes the sad conclusion that cybercrime-related thefts and fraud cost as much as $3.25 billion annually in lost global revenue.
Cyberattacks are happening all the time, and no one is safe from malicious hacking. This year alone, cybercrimes have increased 15% since 2018 and 67% since 2014.
As more people and organizations are becoming aware of this tragic issue, I’d like to take some time today to talk about how you can fight this growing epidemic with some tips on threat modeling and security design in mind to help you remain secure online.
5 Best Threat Modeling Methodologies
Microsoft Threat Modeling Methodology is a trouble-shooting process and framework that helps with threat modeling and risk management processes. It looks for possible threats on your network and helps in mitigating them. Two Microsoft engineers, Loren Kohnfelder and Praerit Garg developed STRIDE in the late 1990s. For every threat to be taken care of, it considers six categories – Spoofing, Tampering, Repudiation, Information Disclosure, Denial of Service, and Elevation of privilege.
The Attack Simulation And Threat Analysis Methodology involve conducting an attack scenario analysis focusing on the top seven attacks most likely to affect your code as identified by the Ponemon Institute in 2009 and mapped to their potential impact estimates per a calculated baseline of 44 countries. Once experts conduct this analysis, you can develop a mitigation strategy through an attacker-centric view to see how developed your application is to resist security threats—this P.A.S.T.A model helps you build a positive reputation in the cyber security community, attract more developers, and provide a better investment return.
Trike focuses on the use of threat models as a risk management tool. Based on requirement models, threat models will establish the stakeholder-defined “acceptable” level of risk assigned to each asset class. Requirement model analysis will yield a trike threat model where threats are identified and given risk values. The completed trike model is then used to build a risk model, factoring in action-level threats into account when building out the overall risk exposure at an asset level to support decisions related to how many resources should be allocated within a given timeframe.
4. Common Vulnerability Scoring System
The Severity score is then translated into a representation threat. This representation helps companies effectively assess and prioritize their unique vulnerability management processes.
5. Quantitative Threat Modeling Method
The Quantitative Threat Modeling Method is a combination of attack trees, STRIDE, and CVSS methods. It encompasses several issues with threat modeling for cyber systems that contain complex interdependencies in their components. The first step is building a segment of attack trees for the STRIDE categories. These trees illustrate the dependencies within the attack categories and low-level details. Then the Common Vulnerability Scoring System method is applied, calculating the scores for all the tree’s components.
Threat modeling is one of the most valuable things you can do to prevent breaches. But while it’s simple, it’s not easy. It requires time and attention to get right. And you can’t do it halfway. To make threat modeling effective, you have to do it right. You need the right kind of Process and the right amount of rigor. You need the proper training, tools, and skills to do it well. And you need to make threats modeling everyone’s responsibility.
KloudLearn offers a Free Cyber Security Training Program to help you gain skills and knowledge to protect yourself from cyberattacks and configure perfect threat modeling for the organization. You will learn about Industry’s best practices from leading practitioners. Learn more about the Cybersecurity program.