These are free to use and fully customizable to your company's IT security practices. Use results to improve security and compliance. must communicate the information value and classification when the information is disclosed to another entity. Information is a valuable asset and aids a local authority to carry out its legal and statutory functions. Explain why data classification should be done and what benefits it should bring. Every organization that strives to be on the safe side needs to implement a workable data classification program. All administrative information is categorised according to appropriate needs for protection, handling and compliance with regulatory requirements. The defensive mechanisms related to copyright, patents, and trade secrets are, per se, insufficient to ensure the required level of protection for proprietary data. EXCEPTIONS An information asset is a body of information, defined and managed as a single unit, so that it can be understood, shared, protected and utilized effectively. It is a common misconception that only medical care providers, such as hospital and doctors, are required to protect PHI. 6. The unauthorized disclosure of such data can be expected to cause significant damage to the national security. As an industry leader, it is critical for COMPANY to set the standard for the protection of information assets from unauthorized access and compromise or disclosure. In fact, most employers collect PHI to provide or supplement health-care policies. Tuttle, H. (2016). 3. The third and fourth diagrams are based on information provided in “Certified Information Systems Security Professional Study Guide (7th Edition)” by Stewart, J., Chapple, M., Gibson, D. Dimitar Kostadinov applied for a 6-year Master’s program in Bulgarian and European Law at the University of Ruse, and was enrolled in 2002 following high school. 1.4 RELATED [COMPANY] NORMS AND PROCEDURES Generally speaking, this means that it improves future revenues or reduces future costs. Dimitar attended the 6th Annual Internet of Things European summit organized by Forum Europe in Brussels. Classified information can reside on a wide array of media, ranging from paper documents and information transmitted verbally to electronic documents, databases, storage media (e.g., hard drives, USBs, and CDs) and email. The second diagram is based on a figure in “Information classification according to ISO 27001” by Kosutic, D. Available at http://advisera.com/27001academy/blog/2014/05/12/information-classification-according-to-iso-27001/ (19/10/2016). CONTENTS Additionally, data classification schemes may be required for regulatory or other legal compliance. Furthermore, such a value should be based upon the risk of a possible unauthorized disclosure. 1.3 APPLICABLE REGULATIONS Unfortunately, many foreign entities tend to resort to unfair practices, for example, stealing proprietary data from their international business rivals. Information Security on a Budget: Data Classification & Data Leakage Prevention. What is an Information Asset? 6.1 DISCIPLINARY ACTIONS AGAINST PROCEDURE VIOLATION This is something left at the discretion of the organizations themselves. Company expects its employees and contingent workers to maintain the highest standards of professional conduct, including adhering to applicable laws, rules and regulations, as well as applicable internal policies, alerts and procedures. • “Information Asset Classification Level”: the classification of information by value, criticality, sensitivity, and legal implications to protect the information through its life cycle. Nevertheless, when a person is entrusted with this task, he should take into account two basic elements: 1) the size and structure of organization and 2) what is considered common in the country or industry in which the organization operates. Information Classification Policy (ISO/IEC 27001:2005 A.7.2.1) COMPANY provides fast, efficient, and cost-effective electronic services for a variety of clients worldwide. Your agencies retain a wide variety of information assets, many of which are sensitive and/or critical to your mission and business functions and services. Similar concerns were voiced in the wake of hacked medical records belonging to top athletes. Get the latest news, updates & offers straight to your inbox. b. According to the 7th edition of CISSP Official Study Guide, sensitive data is “any information that isn’t public or unclassified.” The applicable laws and regulations may also answer the question: What information is sensitive? Required fields are marked *. 4. Information classification is an on-going risk management process that helps identify critical information assets - data, records, files - so that appropriate information security controls can be applied to protect them. on a website 6.9 All IT projects and services which require significant handling of information should have a DPIA Data Classification: Why is it important for Information Security? The purpose of this policy is to establish a framework for classifying data based on its sensitivity, value and criticality to the organization, so sensitive corporate and customer data can be secured appropriately. Information Access and Disclosure Policy OD … The purpose of classification is to ensure that information is managed in a manner Confidential Waste Disposal Policy v2.1 Information Classification Policy v2.6 Information Handling and Protection Policy v3.5 2. 1 Policy Statement To meet the enterprise business objectives and ensure continuity of its operations, XXX shall adopt and follow well-defined and time-tested plans and procedures, to ensure that sensitive information is classified correctly and handled as per organizational policies. The Information Assets Classification Policy sets out the principles under which information is to be classified. These three level of data are collectively known as ‘Classified’ data. The information that the London Borough of Public – The lowest level of classification whose disclosure will not cause serious negative consequences to the organization. Take advantage of the 25% OFF when buying the bundle! This guideline supports implementation of: information asset custodianship policy (IS44) It will put an enormous strain on everyone’s nerves, to say the least, or even lead to erroneous business practices and organizational chaos – e.g., employees may start shredding public information and recycle confidential data. The unauthorized disclosure of such information can be expected to cause exceptionally grievous damage to the national security. CISSP Domain – Application Development Security, CISSP Domain – Legal, Regulations, Investigations and Compliance, CISSP Domain – Business Continuity and Disaster Recovery, CISSP Domain – Telecommunications and Network Security, CISSP Domain – Physical and Environmental Security, CISSP Domain – Security Architecture and Design, CISSP Domain – Information Security Governance and Risk Management, Ownership (e.g. • “Information Asset Classification Level”: the classification of information by value, criticality, sensitivity, and legal implications to protect the information through its life cycle. Information Asset classification, in the context of Information Security, is the classification of Information based on its level of sensitivity and the impact to the University should that Information be disclosed, altered, or destroyed without authorisation. The individuals, groups, or organizations identified in the scope of this policy are accountable for one or more of the following levels of responsibility when using Company informati… Available at http://www.itmatrix.com/index.php/procedural-services/asset-identification-classification (19/10/2016), Data Classification Guide. 1.2 CLASSIFICATION Title: Information Asset Classification Policy Author: Jacquelyn Gracel V Ambegia Created Date: 5/5/2020 3:56:04 PM Save my name, email, and website in this browser for the next time I comment. Thus, HIPPA applies to the majority of organizations in the United States. 1. Asset identification needs to … classification of information assets. This document provides guidelines for the classification of information as well as its labeling, handling, retention and disposition. Most standardization policies— for instance, ISO 27001— do not prescribe a specific framework classification of information. Information Asset classification reflects the level of impact to the University if confidentiality, integrity or availability is compromised. Thus, protection of this information is the very essence of the ISO 27001 standard. Top Secret – It is the highest level in this classification scheme. By using this 27001 INFORMATION CLASSIFICATION POLICY Document Template, you have less documentation to complete, yet still comply with all the necessary guidelines and regulations. The Access Control System Security Standard specifies the requirements with respect to the "need-to-know / need to have" principle, segregation of duties, user account management, access management, logging and access specific system configuration requirements. A “Confidential” level necessitates the utmost care, as this data is extremely sensitive and is intended for use by a limited group of people, such as a department or a workgroup, having a legitimate need-to-know. However, in order to protect it, factors like cost, effort, time, energy are involved on the part of the management. 2.2 This policy focuses specifically on the classification and control of non-national security information assets, and is primarily intended for the employees and individuals responsible for: • implementing and maintaining information assets • incorporating security, integrity, privacy, confidentiality, accessibility, quality and consistency, and • the specific classifications or categorisations of information assets. 1.1 PROCEDURE OWNER The following are illustrative examples of an information asset. 4.1 PUBLIC The intent of the Information Asset Classification Policy (the “Policy”) is to establish employee responsibilities for processing information, including both business data and personal data, in line with its business value and legal and regulatory requirements. 4.4 SECRET IMMs must only be used in addition to a classification of OFFICIAL: Sensitive or higher. Title: Information Asset Classification Policy Author: Jacquelyn Gracel V Ambegia Created Date: 5/5/2020 3:56:04 PM This category is reserved for extremely sensitive data and internal data. PHI has been a hot topic during the 2016 U.S. presidential election, hacked medical records belonging to top athletes, a new report from the Ponemon Institute and law firm Kilpatrick Townsend & Stockton, http://www.takesecurityback.com/tag/data-classification/, https://www.safecomputing.umich.edu/dataguide/?q=all-data, http://www.itmatrix.com/index.php/procedural-services/asset-identification-classification, https://security.illinois.edu/content/data-classification-guide, http://policy.usq.edu.au/documents/13931PL, http://advisera.com/27001academy/blog/2014/05/12/information-classification-according-to-iso-27001/, https://www.securestate.com/blog/2012/04/03/data-classification-why-is-it-important-for-information-security, http://www.riskmanagementmonitor.com/cybersecurity-risks-to-proprietary-data/. A data classification scheme helps an organization assign a value to its information assets based on its sensitivity to loss or disclosure and its criticality to the organization’s mission or purpose, and helps the organization determine the appropriate level of protection. Here are a few example document classifications that will fit most business requirements: Public: Documents that are not sensitive and there is no issue with release to the general public i.e. Consequently, using a correct data classification program is undoubtedly cost-effective, because it enables a business to focus on those assets which face higher risks. markings, labels, storage), can be used to distinguish or track an individual’s identity based on identifiers, such as name, date of birth, biometric records, social security number; and. Purpose. Proprietary data, among other types of data, falls into this category. In order to provide insight on the quality of our premium products, please register to our newsletter and you will get a FREE template for a Email Usage Procedure, to be easily customized to fit your business needs. Businesses Ignore Significant Cybersecurity Risks to Proprietary Data. Data Classification Process Effective Information Classification in Five Steps. Classification Levels are defined in DAS Policy 107-004 -050 and referred to in statewide information security standards. Furthermore, this data is neither sensitive nor classified, and hence it is available to anyone through procedures identified in the Freedom of Information Act (FOIA). 4.2 INTERNAL Aims of the Policy 2.1. The last section contains a checklist to assist with the identification of information assets. CQUniversity CRICOS Provider Code: 00219C INFORMATION ASSETS SECURITY CLASSIFICATION POLICY . Available at https://kb.iu.edu/d/augs (19/10/2016). Available at http://www.takesecurityback.com/tag/data-classification/ (19/10/2016), All Data Types. The classification of information will be the responsibility of the Information custodian. Information Systems Security Architecture Professional, What is the CISSP-ISSMP? From 2008-2012, Dimitar held a job as data entry & research for the American company Law Seminars International and its Bulgarian-Slovenian business partner DATA LAB. Imagine, for instance, a company that cannot identify its most significant information assets, so it treats all of its data as highly confidential. Available at http://policy.usq.edu.au/documents/13931PL (19/10/2016), Kosutic, D. (2014). A considerable amount of damage may occur for an organization given this confidential data is divulged. This information is often confidential, and it can be within the following range of creations: software programs, source and object code, copyright materials, engineering drawings, designs, inventions (whether or not patent protected), algorithms, formulas, schemes, flowcharts, processes of manufacturing, marketing, trade secrets, pricing and financial data, etc. data owners, system owners), Handling requirements (e.g. Here is how the whole private sector classification looks like in the context of the Sony data breach in November 2014: “Confidential/Proprietary/” Level – unreleased movies, “Private” Level – salary information on 30,000 employees, “Sensitive” Level – lists of laid-off or dismissed employees; embarrassing emails, “Public” Level – Sony managed to protect the integrity of such information provided by them (e.g., on their website), You should remember that in contrast to the strict government/military classification scheme, companies can use any labels they desire. It is one thing to classify information, it is a completely different thing to label it. In effect, these two components, along with the possible business impact, will define the most appropriate response. Additionally, data classification schemes may be required for regulatory or other legal compliance. All the changes and new releases of this document shall be made available to the persons concerned. Information classification according to ISO 27001. As the responsibilities of the Information Asset Owners are vast, they have been called out separately. The Chief Information Officer (CIO) is the approval authority for the Asset Identification and Classification Standard. 4.3 CONFIDENTIAL Available at http://advisera.com/27001academy/blog/2014/05/12/information-classification-according-to-iso-27001/ (19/10/2016), Rodgers, C. (2012). 1.7 DOCUMENT SUPPORT It is the cornerstone of an effective and efficient business-aligned information security program. 2. Classifying data will also attempt to identify the risk and impact of a particular incident based on 1) the type of data and 2) the level of access to this data. OVERVIEW 1.5 OBJECTIVES PHI has been a hot topic during the 2016 U.S. presidential election, as it was challenged the morality of protecting such data at all costs. Available at http://www.riskmanagementmonitor.com/cybersecurity-risks-to-proprietary-data/ (19/10/2016), What is sensitive data, and how is it protected by law? Automatic download on this document in just a few seconds! As it was the case with the classification part, here the asset owner has the freedom to adopt whichever rules he finds suitable for his company. Information Asset Owners are typically senior-level employees of the University who oversee the lifecycle of one or more pieces/collections of information. Unclassified – It is the lowest level in this classification scheme. Confidential – A category that encompasses sensitive, private, proprietary and highly valuable data. Under normal circumstances, this process also relies on evaluation results derived from a risk assessment – again, the higher the risk, the higher the classification level. In the context of the CISSP exam, the term “asset” encompasses not only 1) sensitive data, but also 2) the hardware which process it and 3) the media on which is stored. Establish a data classification policy, including objectives, workflows, data classification scheme, data owners and handling; Identify the sensitive data you store. Information asset classification ensures that individuals who have a legitimate right to access a piece of information can do so, whilst also ensuring that assets are protectedfrom those who have no … The Information Security Team can support Information Asset Owners with advice on the appropriate classification of information. Most companies in real life outline in detail these four steps in a document called an Information Classification Policy. It should be noted that the asset owner is usually responsible for classifying the company information. Simple logic that reflects the company’s policies, goals, and common sense would probably suffice, However, in an article by Hilary Tuttle, the author finds it astonishing that “only 31% of respondents say their company has a classification system that segments information assets based on value or priority to the organization (this piece of information is from a new report from the Ponemon Institute and law firm Kilpatrick Townsend & Stockton).”, Abdallah, Z. This guideline supports implementation of: information asset custodianship policy (IS44) the identification of information assets step in the Queensland Government ICT planning methodology. Therefore the classification of the sensitivity level will include the data collection as a whole. Identifying assets. Information assets have recognizable and manageable value, risk, content and lifecycles. The UW System Administrative Policy 1031 - Information Security: Data Classification and Protection defines the method by which the data assets are categorized, based on the risk to the UW System. The foundation of any Information Classification Policy is categorising information. Your email address will not be published. The latter’s goal is to develop guidelines for every type of information asset regarding how it should be classified. If competitors manage to work their way to your proprietary information, the consequences may be grievous, since you may lose your competitive edge because of that. Information to an organization, remains to be an asset especially those in IT sphere. Get your FREE Email Usage Procedure template! Available at https://security.illinois.edu/content/data-classification-guide (19/10/2016), Information Asset and Security Classification Procedure. What’s new in Physical (Environmental) Security? Create an information asset inventory In the context of the CISSP exam, the term “asset” encompasses not only 1) sensitive data, but also 2) the hardware which process it and 3) the media on which is stored. 5 Privacy In this regard, one would say, and reasonably so, that a data classification program provides decision-makers with a clearer view of what constitutes the company’s most important information assets and how to distribute the company’s resources in such a way so as to protect its most critical digital infrastructure. Information Assets Security Classification Policy Effective Date: 15/09/2020 Reference Number: 2647 Page 1 of 5 Once PRINTED, this is an UNCONTROLLED DOCUMENT. Available at https://www.securestate.com/blog/2012/04/03/data-classification-why-is-it-important-for-information-security (19/10/2016). This bundle contains all the products listed in the Data Governance section. An information asset is a body of information that has financial value to an organization. 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