IT Security Report: Addressing Data Breach in Banking Sector

This report focuses on a bank's data breach, analyzing the issue and proposing solutions. The report begins by outlining the problem, which involves a compromised encryption system and potential access to customer data. It then presents evidence, including the NDB scheme and the importanc...Read More

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rofessional ra ti e in TP P c c I

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Table of Contents
ntrodu tionI c ...............................................................................................................................2
a ground of t e robleB ck h P m.......................................................................................................2
iden eEv c .....................................................................................................................................2
nter retation olutionI p (S )............................................................................................................2
Con lusionc ..................................................................................................................................2
eferen esR c ..................................................................................................................................4

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Introduction
T e e uestion raised in t is s enario is et erh k y q h c wh h t e C and t e o erationsh IO h p
anager s ould ta e reasonable ste s to o l it s e e and se urit easuresm h k p c mp y w h NDB ch m c y m
to i ro e ber se urit sin e t e en r tion s ste of t e ban as failed T e s o e ofmp v cy - c y c h c yp y m h k h . h c p
t is re ort in ludes ro iding infor ation to t e o erations anager M to el ih p c p v m h p m (O ) h p h m
understand t e issue and ro ide solutions to address t is issueh p v h .
Background of the Problem
al are as atta ed t e s ste of t e ban b using ass ords ertifi atesA m w h ck h y m h k y p w /c c
t roug i a ers an gain a ess to ersonal data of all lients T e en r tion s steh h wh ch h ck c cc p c . h c yp y m
of t e ban as been o ro ised and t e C did not ant to ta e an a tionh k h c mp m , h IO w k y c .
Evidence
s er t e s e e it is t e dut of t e o an to notif t is brea toA p h NDB ch m , h y h c mp y y h ch
a ro riate aut orities e en if it results in bad ubli it ennett T e arties usepp p h v p c y (B , 2018). h p
transa tional odel of o uni ation instead t e s ould a e used trans ission odelc m c mm c ; , h y h h v m m
of o uni ation to a e et i al de ision T e e a le of age ig lig ted t ec mm c m k h c c . h x mp P Up h h h h
negati e i li ations of failure to aintain a ro riate berse urit oli ies M ratv mp c m pp p cy c y p c ( cG h &
lu erB m , 2018).
Interpretation (Solution)
T e M s ould understand t is issue b dis ussing it it t e C and t e teah O h h y c w h h IO h m
leader T e s ould a e a ubli notifi ation as er s e e and use t e rofits of t e. h y h m k p c c p NDB ch m h p h
ban to i ro e t eir berse urit n esti ated a ount of illion s ould be s ent bk mp v h cy c y. A m m $10 m h p y
t e ban on u grading its soft are fire all en r tion s ste registr s ste andh k p w , w , c yp y m, y y m
database se urit roto ols t is a ount an furt er e eed after i le entation f t ec y p c ; h m c h xc mp m . I h
ban did not ta e t is de ision t en ri a of all illion usto ers ill be iolated andk k h c , h p v cy 2.5 m c m w v ,
t e ban ould fa e legal arges fro its usto ers i ould affe t its ublih k w c ch m c m wh ch c c p c
re utation and t e ban ig t a e to s ut do n its o erationsp , h k m h h v h w p .

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Conclusion
n on lusion t e M and t e C s ould ta e orre ti e a tions b i ro ing t eirI c c , h O h IO h k c c v c y mp v h
se urit s ste s to ensure t at ri a of usto ers in aintained be ause its negati ec y y m h p v cy c m m c v
onse uen es ould result in s utting do n t e o erations of t e banc q c c h w h p h k.

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References
ennett TB , . (2018).
in idents re orted under ustralia s ne data brea la s
300 c p
A ' w
ch w . etrie edR v
fro tt s i o in idents re orted under australias ne datam h p ://wh ch-50.c m/300- c - p - - - w- -
brea rulesch- /
M rat lu er CcG h, P. & B m , . (2018).
an details TF s ersonal details of ob a li ants
B k , N , p
j pp c
otentiall o ro ised in a or age data brea
p y c mp m
m j P Up
ch. etrie ed froR v m
tt s ab net au ne s australian data a be o ro ised inh p ://www. c. . / w /2018-06-06/ - -m y- -c mp m - -
ageu se urit breap p- c y- ch/9840048