The Concept of Security in the IT Environment
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Added on 2020-04-01
The Concept of Security in the IT Environment
Added on 2020-04-01
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Running Head: IT RISK ASSESMENT 1IT Risk Assessment
IT Risk Assessment 2Executive Summary The present report examines the concept of security in the IT environment. In the present times, IT security has become an important issue as information technology and digitized mediums are commonly used for storing and the retrieval of information. In the present information age, the volume of information has become drastically large; therefore, it is important that the organization stores their information in the digital medium. Therefore, with the advent of technology, all the business organizations have started using digitized mediums to store the confidential and non-confidential information of the organization. The technology has also increased the volume of the data available and it is important to use the digitized mediums for storing the vast amount of information. In this regard, the present report highlights the concept of cloud computing for storage of information. Aztek is a financial organization which is trying to adopt an IT service which can address the issue of data storage in the organization. As it is a financial organization, it deals with highly confidential information related to the finances of the customers. It is important to maintain the privacy of the customers and protect the data from unauthorized mediums. It is due to the reason that if hackers attain this data, it can be misused. However, it is important for the organization to adopt cloud services due to the enormous amount of data it is dealing with. It is a technology based n sharing of resources.The organization can rent the cloud services for storing data. In cloud computing, data is stored in online mediums which can be accessed from anywhere and from any device. It can drastically impact on the efficiency of the services provided by the business organization. The present report has discussed the issues which will be created with the adoption of cloud computing in the organization. The company needs to implement several security protocols such as firewall and intrusion detection system for identifying the external parties who can enter the system. The selection of vendor also impacts on the security provided to the customers. Aztek should check whether the external cloud service provider is abiding by all the compliance has and data privacy Acts. The vendor should also be able to provide adequate bandwidth to its customer so that the operations can run smoothly. The report has conducted a risk assessment and proposed solutions which can be used to address these risks. The report reflects on all the issues which may arise on data privacy and security due to adoption of cloud services. At last, the report has also shed light on various approaches which can be used to mitigate the data security risk in the organization.
IT Risk Assessment 3Table of ContentsIntroduction......................................................................................................................................4Review of the Project with respect to the Financial Services Sector..............................................4Review of the project impact on the current security posture of Aztec...........................................6Risk assessment based derived from IT control framework............................................................7Addressing risks for Data Security..................................................................................................9Conclusion.....................................................................................................................................10References......................................................................................................................................11
IT Risk Assessment 4Introduction In the present scenario, Information Technology (IT) has intruded the daily lives of people and has immense applications in the business operations. IT infrastructure assists the organization in increasing efficiency and productivity of the organization. Today, most of the business organizations have embraced technology to ease their business process. These business organizations cannot operate in the absence of technology as all the operations are dependent upon it. However, with the advent of technology, several risks have also arisen in the business operations of the company. Most of the risk is associated with the confidentiality and the privacyof the data stored on the online mediums. In the present times, the size of the information and thedata used in the business organization has become vast. Therefore, digital mediums are commonly used to store this data or information. However, the information stored in these digitalmediums can be accessed easily from any part of the world. Therefore, it is important that the business organizations adopt security protocols to prevent unauthorized mediums to secure the private information of the organization (Almorsy, Grundy & Müller, 2016). Aztek Finance is company which deals in the financial industrial sector; therefore, it is important that the business organization should implement security measures to prevent the data breach. The present report will conduct an IT risk assessment with respect to the implementation of cloud services in the company. In order to increase the efficiency and the productivity of the organization, the business organizations is taking into account a number of changes in its IT infrastructure such asBYOD (Bring your Own Device), cloud computing and use of other similar services. In these changes, cloud computing has been selected as the preferred choice as it will bring down the costto the organization radically. The present report will conduct a risk assessment related to the deployment of cloud services, provide recommendation on how to address them and review the current stand of the organization with respect to the security of the cloud services.Review of the Project with respect to the Financial Services SectorAztek is a financial corporation which deals with the financial information of the customers. Being a business organization in the financial industry, the company has to deal with the sensitive and the confidential information of the customers. The government has also developed strict policies for the companies working in the financial industry. The Privacy Act 1988 controlsthe collection, use and disclose of the personal data. This Act is applicable to all the companies as well as the industries. The Privacy Act is applicable to all the companies in the in private sectors and the public sectors. This Act regulates the personal information of the users and its misuse. The personal information refers to the information which can reveal the identity of an individual regardless of the point. The Act is applicable regardless of whether the information is true or the individual is named, if the information is specific and enables the identification of a person it is considered as a breach of the individual privacy. All the financial and the banking organizations are regulate by Australian Privacy Principles (APPs). The personal information encompasses the information or an opinion which can identify an individual or allow the people to work out their identity. This information may include an individual’s name, address, financial information, marital status and billing status.
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