Web application risk analysis methods are tools to identify vulnerabilities that hackers can exploit to steal valuable information from your company and your customers. Some of the practices work even before the application is released to the general public.
In addition, it is necessary to implement this type of practice within the development of web applications in order to comply with international safety requirements that regulate the cybersecurity framework of different institutions and different industries, including FinTech, entertainment, eCommerce, among others. The mission of these regulations is to secure the information of its users and prevent leaks from cyberattacks.
Risk analysis methods for web applications analyze the code before, during and after the product has been released. If you are interested in knowing more about it and complying with the regulations or you are interested in knowing in depth the vulnerability analysis tools, you can request a consultancy with Codster to solve your doubts about it.
What are the risk analysis methods for web applications?
There are several methods of risk analysis for web applications that can be used to assess the security of both the code and the usability of its users. Below, we present some of the most common on the market and that can be adapted to your needs:
- Static code analysis: This method involves analyzing the source code of the application to identify possible vulnerabilities, even if it is not active or ready to use. Automated code analysis tools are used to look for common bugs that could be exploited by attackers.
- Evidence of possible attacks: This method involves simulating attacks on the application to identify vulnerabilities that could be exploited by real attackers. Security experts carry out manual penetration tests or use automated tools to identify vulnerabilities and assess the level of risk.
- Threat analysis: This is one of the most common web application risk analysis methods and involves identifying potential vulnerabilities facing a web application and assessing the likelihood of these being exploited and their potential impact. Threat analysts use a variety of techniques to assess risk, including analysis of known attacks, review of security policies, and evaluation of application design and architecture.
- Third party risk analysis: This method implies evaluating the security risks by emulating the use that third parties who have access to the web application would give, whether they are clients or external work teams. This may include hosting service providers, providers of third-party software used by the Application, or even the users of the Application themselves.
- Security Configuration Assessment: This method involves evaluating the security settings of the web application and the web server that hosts it to ensure that security best practices are being used. This includes setting up firewalls, using SSL/TLS certificates, and setting permissions and authentication.
Each of the web application risk analysis methods has its own advantages and limitations, and it is recommended to use a combination of these to obtain a complete assessment of web application security. And, in this way, to be able to offer the best possible experience to the user.
Benefits of using risk analysis methods for web applications
The use of risk analysis methods for web applications has several benefits in the short and long term, both within the company and in the general environment. Some of the most important are the following:
- Identification of vulnerabilities: Risk analysis helps identify web application vulnerabilities, allowing developers to fix them before they are exploited by malicious attackers. This can lead to savings during development and maintenance
- Risk mitigation: Risk analysis allows developers to identify potential risks and take steps to mitigate them before they become serious problems. This can help reduce the likelihood of a successful attack, thereby protecting your customers' and partners' valuable information.
- Normative compliance: Many companies and organizations are subject to international and local regulations that require the risk assessment for web applications. Risk analysis can help meet these requirements and avoid possible penalties or fines that may increase if they are repeat offenders.
- Cost savings: As we have already mentioned, identifying and correcting vulnerabilities in the early stage of web application development can result in significant savings in costs and development time.
- Reputation Enhancement: Security vulnerabilities can have a negative impact on a company's reputation, as well as the ratings made by its users. Risk analysis helps to avoid these problems and improve customer confidence in the security of the web application to use and recommend it.
Web application security is even more important when dealing with confidential and sensitive information. By performing a comprehensive analysis of web application security flaws, loopholes, and vulnerabilities, you also significantly decrease the risks associated with a data breach performed by cybersecurity bad actors. If you are interested in learning more about it, you can request a consultancy with Codster to solve your doubts about it.