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I recommend a three-step approach to examining the security of your Web services:
- Perform a risk analysis of your companies assets
- Match the security that you are using for each class of assets against the value of the asset.
- Assess the security architecture of your site
Turning to step #1, I would recommend starting out with three categories of risk, High, Medium and Low. You will probably expand these categories as you delve into the assessment but it is best to start out simply. High-risk assets are those that would cause very serious damage to your company if they were compromised. This might be the result of a bogus, large purchase order, i.e. financial risk, or disclosure of sensitive customer data, i.e. reputation risk. Medium risk assets are those whose compromise would hurt the bottom line or result in a temporary black eye but not be threatening to the survival of your company. Low risk assets are those whose compromise would have a negligible effect on your business. Some companies may have no high-risk assets, e.g. no individual transaction would have a devastating effect on the business, but this condition is rare. There are usually some critical assets to be protected. However, in general, most businesses have a small number of assets in the high-risk category.
I recommend starting your evaluation by concentrating on protecting your high-risk assets, then look at the security of the medium risk assets, putting aside work on the low risk assets until after you have examined and made any corrections to the first two categories.
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