How Does Threat Modeling Work to Improve Cybersecurity?

With the advancement in technology and more and more businesses moving to digital and cloud-based solutions, cybersecurity has become a critical source of concern for every organization as their IT systems face increased risk and vulnerability. The increase in cyber-attacks has led to significant financial losses, data breaches, and loss of reputation. It is also important to note that although the main source of breaches and cyber-attacks can be from hackers and distributed denial-of-service (DDoS), threats can also originate from internal sources, such as employees attempting to steal or tamper with data.

Small-and-Medium sized businesses are not immune to these attacks. In fact, they are more at risk due to the lack of adequate cybersecurity measures. According to a report in Forbes, over 43% of cyber-attacks and data breaches are aimed at SMBs, with only 14% prepared to defend themselves.

Threat modeling is one of the essential ways to improve cybersecurity. It is one of the most proactive approaches to identifying and evaluating potential security risks and vulnerabilities in your business.

This article explores how threat modeling works to improve cybersecurity.

What Is Threat Modeling?

Threat modeling is identifying and analyzing potential security threats and vulnerabilities that could lie in various software systems. It involves identifying and prioritizing potential threats, evaluating the seriousness and impact of those threats, and determining appropriate countermeasures to mitigate the risks.

Simply put, threat modeling is an effective strategy businesses should put in place to evaluate cybersecurity threats. Threat modeling can be used to assess the security of an entire software system in a business, including hardware, software, and people.

Threat modeling is typically performed by a team of security experts, developers, and other stakeholders. The team works together to identify potential security risks and vulnerabilities in the software system. They then use various techniques to evaluate the likelihood and severity of each threat and prioritize them based on their potential impact.

How Threat Modeling Works

Typically, a threat model comprises various components that aim to provide a comprehensive understanding of a system’s risks. These components include:

• A thorough description of all the assets and resources present in the IT environment, such as endpoints, software, networks, servers, and databases.
• A comprehensive list of potential threats that the system might be vulnerable to, along with their respective levels of severity.
• A list of recommended actions that can be taken to address each identified threat, along with any additional suggestions for risk mitigation.
• Validation mechanisms to test the accuracy and effectiveness of the model, along with procedures to verify the success of any patches or fixes implemented.
• Establishing assumptions and conditions that may need to be revised or tested as the threat environment evolves
• Developing strategies to counter each potential threat
• Implement a validation mechanism to verify the model’s effectiveness and actions taken against the threats.

It is important to note that the form and format of a threat model can vary significantly, depending on the most effective way to convey information to stakeholders. This may include documents, visualizations, or other relevant mediums.

Questions Threat Modeling Answers

According to Goran Aviani, a renowned software engineer, he said, threat modeling is designed to answer four important questions:

• What are the things we are working on?
• What are the things that can or could go wrong?
• What are the things that can be done if things go wrong?
• After it all, did we do a good job?

For organizations, these questions should be asked and critically looked at when new software or hardware is being installed and threat modeled. 

The Process of Threat Modeling

There are several key processes involved in threat modeling, which can be divided into four main steps:

• Define the system

In this first step, the system being analyzed is defined in detail. This includes identifying all the assets involved, such as software, hardware, and data, and understanding how they interact.

• Identify threats

The next step is to identify potential threats that could compromise the system’s security. This involves considering all possible attack vectors, such as network breaches, social engineering, and malware infections.

• Evaluate threats

Each identified threat is evaluated in this step to determine its potential impact on the system’s security. The likelihood and consequences of each threat are considered to assess its risk level.

• Develop countermeasures

Finally, countermeasures are developed to mitigate each identified threat. These can include technical solutions such as firewalls or intrusion detection systems, as well as process improvements, training, or other non-technical solutions.

By following these four steps, threat modeling can help organizations proactively identify and address potential security threats, ultimately improving their cybersecurity posture.

Benefits of Threat Modeling

Threat modeling offers several benefits to organizations looking to improve their cybersecurity posture. These benefits include:

• Identification of vulnerabilities in the early stage

Threat modeling allows the organization to identify potential security vulnerabilities and risks early enough in the developmental process. This gives room for proactive mitigation of vulnerabilities, cyber-attack risks, and data breaches. It also prevents other forms of potential cybersecurity incidents from occurring.

• Prioritize security investments

By identifying and evaluating potential threats with threat modeling, organizations can prioritize their security investments based on the most significant risks and the impact it has on their systems. This ensures that resources are allocated where they will have the most impact, reducing the risk of costly security incidents.

• Improves Communication

Threat modeling promotes communication between different IT teams and departments, ensuring everyone knows the potential security risks. By using a common language and understanding potential security risks, teams can better collaborate and make informed decisions about security measures.

• Cost Savings

By identifying and mitigating potential security risks early in the development process, threat modeling can help organizations avoid costly security breaches and data loss. This can result in significant cost savings in the long run.

Ready to Implement Threat Modeling in Your Business?

Unbound Digital can help your Tri-Cities business put threat modeling in place and carry out the process affordably. 

Contact us today to get started! Call 423-467-7777 or reach us online.