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Security and Risk Management in Banking Industry

   

Added on  2022-12-21

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Running head: SECURITY AND RISK MANAGEMENT
SECURITY AND RISK MANAGEMENT
Name of the Student:
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Security and Risk Management in Banking Industry_1

SECURITY AND RISK MANAGEMENT
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Table of Contents
Introduction..........................................................................................................................2
Discussion............................................................................................................................2
Threats to the Networking Switches and Routers............................................................2
Proposed Network Security Devices...............................................................................5
Availability of the Web Services.....................................................................................7
Impact of Employees on the information security...........................................................7
Auditing tools used in Windows Server..........................................................................8
Conclusion...........................................................................................................................8
References..........................................................................................................................10
Security and Risk Management in Banking Industry_2

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Introduction
Technology plays an important role in the banking industry. Banks of Australia
implemented innovative technologies as well as digital channels for performing the business
operation seamlessly. With the development of the information technology the risk or threats
also increases. In comparison with the other industries banks seem more active in the investing
and security activities or practices. The network architecture or the networking layer of every
organization should be secured properly such that they protect the sensitive data associated with
their business. This helps the banking organization to operate their online services with an ease.
The selected organization for this report is the Common wealth bank of Australia. The
organization deals with many old and new data every day. Thus, the security of these data is the
primary objective of the organization. The report mainly focuses on the security of networking
layer in the selected organization. The report briefly describes some sections like threats to the
switches and the routers, two devices used to secure the network infrastructure of the
Commonwealth bank of Australia, availability of the web services in the Windows Server 2016.
The report also discusses two tools used by the Windows Server 2016 for auditing purpose.
Discussion
Threats to the Networking Switches and Routers
The network of the Commonwealth bank of Australia uses some technologies in the
networking layer like web applications, Wireless, Active directory, Windows and Unix operating
system, Virtual private networks, web servers and firewalls. Router and switches are collectively
called network infrastructure devices or tools (Kahate 2013). They must be hardened and should
Security and Risk Management in Banking Industry_3

SECURITY AND RISK MANAGEMENT
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also be updated regularly. Some security threats to these switches or routers of the common
wealth bank of Australia are:
IP Spoofing: In this attack the attacker first break the internet data in the form of
packets and then the attacker transmits those packets independently. Each and
every packet comprises of a unique Internet Protocol header that is comprised of
the data regarding that specific packet. This header contains the source IP address
as well as the destination IP address. In this attack the attacker utilizes some tools
for modifying source address in packet header (Beverly, Koga and Claffy 2013).
This alteration in the source IP address deviate the receiving system and force the
system to think that the packet is coming from a trusted source. It is used by the
attacker by hiding the details of the source and also to impersonate other
computer systems. The banking operation deals with many transaction every day.
Customers or the clients make many transaction in this bank and thus this
transaction process needs to be secured as because IP spoofing can impact these
transactions negatively and the bank can face a huge loss in this competitive
market. IP spoofing is commonly observed in the DDoS attack where the
attackers utilize some spoofed IP address for overwhelming the computer servers
that contain numerous sensitive data. Usually these spoofed IP addresses are sent
by the botnets which are placed in various positions of the network layer.
Security and Risk Management in Banking Industry_4

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