What are the most effective ISM frameworks and standards to follow in your industry?

The ISO27001 standard is a risk-based, externally auditable and continuously improving one, which effectively demonstrates best practice by ensuring that only the most necessary "controls" are in place and not simply cherry-picked. Not only is it externally audited, but it also serves as a common, universal understanding of due diligence and regulatory programs. It is also useful in helping organizations comply with data protection laws and regulations, as these are often risk-based as well.

The effectiveness of a framework often depends on the needs and nature of an organization and some well recognized and commonly used ISM frameworks and standards listed below for reference. 1)ISO/IEC 27001 2)NIST Cybersecurity Framework 3)COBIT (Control Objectives for Information & Related Technologies) 4)CIS Critical Security Controls 5)ITIL (Information Technology Infrastructure Library) 6)PCI DSS (Payment Card Industry Data Security Standard) These standards are important, as the field of information security is dynamic, and new threats and best practices emerge over time.

Implementing ISO/IEC 27001 standards from the ISO/IEC 27000 series can help organizations establish, maintain, and improve their Information Security Management System (ISMS) effectively. Compliance with these standards demonstrates a commitment to protecting information assets and meeting regulatory requirements, enhancing trust and credibility with stakeholders.

In the Healthcare sector I've found that not being able to comply and accredit to ISO27001 prevents growth as it precludes you from frameworks or bid for sales opportunities. This is a baseline assurance expectation

The ISO 2700x series includes several standards that focus on information security management. Key standards include ISO 27001, which outlines the requirements for an information security management system (ISMS); ISO 27002, which provides best practice recommendations; ISO 27005, which details information security risk management; ISO 27017, which provides cloud security controls; and ISO 27018, which focuses on protecting personal data in the cloud. These standards help organizations secure information assets, manage risk, and ensure compliance with privacy regulations.

The NIST CSF is a cybersecurity framework that offers several benefits. Its strength lies in its flexibility, which makes it possible to tailor it to fit the specific needs of any organization. It focuses on risk management, helping organizations identify, assess, and mitigate cybersecurity risks. Additionally, its voluntary nature guides without strict requirements, making it possible for customization.

The NIST Cybersecurity Framework (CSF) offers a voluntary and adaptable framework designed to enhance the security and resilience of critical infrastructure sectors. Comprising five core functions - Identify, Protect, Detect, Respond, and Recover - the CSF outlines specific cybersecurity outcomes and activities within categories and subcategories. Additionally, the framework includes implementation tiers and profiles to assist organizations in aligning security objectives with risk tolerance and operational needs.

The National Institute of Standards and Technology (NIST) is a U.S. federal agency known for developing standards and guidelines, particularly in cybersecurity. One of its key contributions is the NIST Cybersecurity Framework (CSF), offering a flexible approach to enhancing cybersecurity for critical infrastructure sectors like energy and healthcare. The CSF's core functions—Identify, Protect, Detect, Respond, and Recover—outline specific outcomes and activities to improve security and resilience. It also provides implementation tiers and profiles to help organizations align security goals with their risk profiles.

COBIT 2019 focuses on enterprise IT governance, integrating management and technical processes across the organization. It's broader than ISO 27001, which targets information security management systems (ISMS) for data protection, and NIST frameworks, often emphasizing cybersecurity standards and risk management. COBIT provides a holistic approach to IT governance, aligning IT goals with business objectives, while ISO 27001 and NIST offer more specific guidelines for securing information and managing cybersecurity risks, respectively.

COBIT 2019, developed by ISACA, is a comprehensive framework for governing and managing enterprise information and technology (I&T). It helps organizations align their I&T investments with strategic goals, create value, and meet stakeholder expectations. Based on six key principles, COBIT 2019 provides governance and management objectives, processes, practices, and performance indicators for each domain of I&T: Align, Plan and Organize (APO), Build, Acquire and Implement (BAI), Deliver, Service and Support (DSS), and Monitor, Evaluate and Assess (MEA).

This framework offers a comprehensive approach to IT governance by outlining key objectives for custom IT strategies aligned with business goals.

The CIS Controls framework is designed to help mitigate the most common cyber threats and provide a solid foundation for cybersecurity defence. It is updated regularly to keep up with the evolving threat landscape, ensuring its effectiveness against modern attack tactics. Additionally, the framework is aligned with many legal, regulatory, and policy frameworks, making it a valuable tool for compliance efforts.

I would recommend readers look up the revised updated CIS18 controls. Each control has a number of sub-controls which makes it easier to work with teams to implement measures inside the organisation and less time is spent trying to define the control measure. The advantage is that it aligns to ISO27001 and NIST making any regulatory audit or compliance audit process easier

Implementing the CIS Controls can significantly enhance cybersecurity posture by prioritizing and implementing 20 key security controls that cover essential security practices, additional security measures, and governance aspects. Following the Pareto principle, organizations can achieve substantial security benefits by focusing on these controls, which are categorized into Basic, Foundational, and Organizational Controls.

The Payment Card Industry Data Security Standard (PCI DSS) is a set of security requirements established by the PCI Security Standards Council to safeguard cardholder data from theft and fraud. Comprising 12 requirements across six domains, PCI DSS mandates organizations handling cardholder information to maintain secure networks, protect data, manage vulnerabilities, enforce access controls, monitor networks, and uphold information security policies to ensure compliance with industry standards and regulations.

PCI DSS outlines specific security measures for handling cardholder data to prevent fraud and is mandatory for certain companies that process, store, or transmit credit card data. Unlike broader standards such as ISO 2700x, which focuses on information security management, the NIST Cybersecurity Risk Management Framework, and the CIS Controls for Protecting Against Cyber Threats, PCI DSS provides actionable controls for payment security. It integrates with these frameworks to ensure a comprehensive data protection strategy, highlighting its specialized role within the broader information security ecosystem.

PCI DSS 4.0 is here, and there is no running from it :-) The shift to PCI DSS 4.0 extends beyond mere compliance; it involves enhancing your organization's security stance, acknowledging the interplay between cybersecurity and fraud management, and revolutionizing how your organization safeguards cardholder data. Nevertheless, it places significant responsibility on organizations to guarantee adherence to the updated requirements.

PCI DSS, essential for entities handling card data, emphasizes safeguarding against theft and fraud. Crafted by the PCI Security Standards Council, it spans 12 requirements across six areas: secure network construction, data protection, vulnerability management, access control, continuous monitoring, and a comprehensive security policy. In sectors engaging in payment processing, PCI DSS compliance is crucial for customer trust and securing financial transactions. Implementing PCI DSS rigorously has markedly reduced risks and bolstered our security framework, proving its critical role in our information security strategy.