Final answer:
Confidentiality risks, like identity theft, integrity risks, including financial theft, and availability risks such as power shutdowns, each have significant costs of failure including financial losses, damaged reputations and reduced customer trust.
Step-by-step explanation:
Confidentiality, integrity, and availability risks, collectively known as the CIA triad, are pivotal in securing information systems. Each type of risk poses unique challenges and has its own general costs of failure, which can impact both organizations and individuals.
Confidentiality Risks:
Confidentiality risks entail the unauthorized disclosure of information. Examples include identity theft due to a data breach where personal information is stolen and used for fraudulent activities. Costs of failure can be tremendous, ranging from financial losses to damaged reputations.
Integrity Risks:
Integrity risks involve unauthorized modification or destruction of information. This could manifest as financial theft due to tampering of transaction data. The costs of failing to protect integrity include monetary loss and compromised trust.
Availability Risks:
Availability risks pertain to the disruptions in access to information or systems, such as power shutdowns that can halt operations. The general costs of these risks include lost productivity and revenue, coupled with the loss of customer trust. Minimizing these risks involves implementing adequate security measures and being prepared for contingencies. Preventative measures can affect the price, quantity, and quality of the security solutions deployed within an organization. Moreover having robust mechanisms to ensure the protection of data is essential in aligning with personal responsibilities while navigating technological advances that may widen the digital divide or create added vulnerabilities.