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Information Security Management in Bank of America

Added on - 08 Dec 2020

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Information SecurityManagement in Bank ofAmerica
ABSTRACTInformation security refers to practice of preventing an unauthorised access, disclosure, use forpreventing disruption, modification and inspection of sensitive information. It is one of thesignificant aspects in the business enterprise by which a firm can keep security of its informationand data. Bank of America is a leading multinational bank which is located in United Sates andare serving their consumers from past 200 years. In this current report, significance of theinformation security within an organisation and application of several strategies to keep securedata has been systematically discussed. The role of information security and various programsfor initiating this security at workplace has been also argued in this study.
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK..............................................................................................................................................1Investigate and report on the current state of organisation make suggestions forimprovements that the organisation could adopt to improve their security...........................1CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONInformation security is defined as the way through which firms can prevent unauthoriseduse and access of an individual or other users to their data. Bank of America deals in financialservices and act as investment bank which addresses 46 million consumers including largecorporations and small scale enterprises. This report discusses about importance of planning androle of information security governance. This plays a central role of information security policyin assuring safety of data of organisation.MAIN BODYBackground Information of CompanyBank of America Corporation is an American multinational investment bank thatprovides financial services to 46 million customers. It was established in the year 1904 with theaim of helping communities and people to prosper and grow. Company provided a broad rangeof banking and financial services in 50 states of America and 40 other countries.Bank of America services are not limited to household consumers but it also includesbusiness and institutional banking and wealth management services. It is a global company witha local focus of serving consumers and supporting them to save their hard earned money.Bank of America runs on concept of delivering long term value to their consumers andshareholders that has divided its operations through five lines of businesses which are as follows:Retail:It serves US consumers with a full range of financial products and servicesthrough award-winning digital banking capabilities.Small business:It is responsible for providing banking and investment solutions to USbanking and investments clients as well cash management, lending and investmentsolutions.Global commercial banking:This is accountable for offering treasury, lending, leasingand financial guidance. It helps in pairing company’s capabilities with local services.Business banking:This offers integrated financial guidance and debt equity underwritingservices to middle market companies across all industries.Global corporate and Investment banking:It serves large corporate clients across theworld and industries as well municipalities and government agencies.Current State of Information Security Management in Bank of America:1
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