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The beststrategy for securely managing cryptographic material is to use a Hardware Security Module (HSM). Here’s why:

Security and Integrity: HSMs are specialized hardware devices designed to protect and manage digital keys. They provide high levels of physical and logical security, ensuring that cryptographic material is well protected against tampering and unauthorized access.

Centralized Key Management: Using HSMs allows for centralized management of cryptographic keys, reducing the risks associated with decentralized and potentially insecure key storage practices, such as on personal laptops.

Compliance and Best Practices: HSMs comply with various industry standards and regulations (such as FIPS 140-2) for secure key management. This ensures that the organization adheres to best practices and meets compliance requirements.

When the cost to mitigate certain risks is higher than the asset values, the best approach is to purchase insurance. Thismethod allows the company to transfer the risk to an insurance provider, ensuring that financial losses are covered in the event of an incident. This approach is cost-effective and ensures that risks are prioritized appropriately without overspending on mitigation efforts.

To reduce the risk of unauthorized BYOD (Bring Your Own Device) usage, the organization should implement Conditional Access and Network Access Control (NAC).

Why Conditional Access and NAC?

Conditional Access:

User-to-Device Binding: Conditional access policies can enforce that only registered and compliant devices are allowed to access corporate resources.

Context-Aware Security: Enforces access controls based on the context of the access attempt, such as user identity, device compliance, location, and more.

Network Access Control (NAC):

DeviceConfiguration Requirements: NAC ensures that only devices meeting specific security configurations are allowed to connect to the network.

Access Control: Provides granular control over network access, ensuring that BYOD devices comply with security policies before gaining access.

Other options, while useful, do not address the specific need to control and secure BYOD devices effectively:

A. Cloud IAM to enforce token-based MFA: Enhances authentication security but does not control device compliance.

D. PAM to enforce local password policies: Focuses on privileged account management, not BYOD control.

E. SD-WAN to enforce web content filtering: Enhances network performance and security but does not enforce BYOD device compliance.

F. DLP to enforce data protection capabilities: Protects data but does not control BYOD device access and compliance.

To mitigate the issue of excessive permissions and privilege creep, the best solutions are:

Implementing a Role-Based Access Policy:

Role-Based Access Control (RBAC): This policy ensures that access permissions are granted based on the user's role within the organization, aligning with the principle of least privilege. Users are only granted access necessary for their role, reducing the risk of excessive permissions.