Developing Cyber Resilience in Abacus Property Group: Findings and Analysis

CORPORATE GOVERNANCE
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Executive Summary
The current study focuses on the primary aspects of cyber resilience and its development in
Abacus Property Group. A company tries to secure its sensitive records from any external
sources but unfortunately, hackers try to gain them by illegal means and blackmail the company
with a huge ransom. Thus, the company has to invest a significant capital in the construction of a
team or a group with security professionals that will help to increase the safety of the company's
systems. Abacus Property Group must upgrade its current technology and software to prevent the
breaching of their systems and limiting access to personal details of the employees, customers
and stakeholders of the company.
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Table of Contents
Introduction......................................................................................................................................4
Findings and Analysis......................................................................................................................4
a) The concept of cyber security..................................................................................................4
b) Major problems in cyber security............................................................................................5
c) The investigation into the problems.........................................................................................5
d) Analysis of the situation..........................................................................................................7
Recommendation.............................................................................................................................9
Conclusion.....................................................................................................................................11
Reference List................................................................................................................................12
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Introduction
Financial scandals are on the rise again and hence it has become a prime concern for the analysts
to focus on the ethical policies that have failed miserably. It is essential for the company to
organize a committee to monitor affairs related to the security of the company. The companies
still possess a fear that their important data or resources could be hacked illegally. Hence, there is
an urgent need to strengthen the web security of the company and overcome the flaws related to
it. The study also talks about the investigation followed by an assessment of the matter along
with a set of recommendations.
Findings and Analysis
a) The concept of cyber security
Cyber security defines the phenomenon where the web-based systems are protected from any
manipulation or stealing through cyber attacks. Accessibility to records and important
information of a company through illicit means can leave a disastrous effect on the organization.
Cyber security is the as broad term that constitutes of several portions, for example, network
security, operational security, disaster recovery, application and information security. The
technology is always in its way to development. Therefore, the attacks on information
technology are also changing and the prevention measures need constant up gradation. As per the
views of Bain and Band (2016), the companies are investing capital in protecting their
management and employees from any breach in their security.
The greatest challenge for the cyber department of a company is to constantly supervise the
technologies in the market, recent trends in the security methods and threat intelligence. The
different ways in which cybercrime exists are- Social engineering, malware, phishing and
ransom ware. Social engineering is a kind of cyber attack where human connections are used to
bring out the important information that must not be revealed to any external sources (Collins,
2016 p. 52). Malware is a cyber attack where the computer system is affected badly by the
introduction of viruses, Trojan horses and worms. Ransom ware is a kind of malware where the
person behind the cyber attack uses cyber encryption to lock important files of the user and in
return for decryption asks a huge ransom. The last type of cyber attack is phishing where emails
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