This report critically analyzes the impact of information technology on the Commonwealth Bank, focusing on a data breach incident. It explores the bank's reliance on IT, its advantages, and disadvantages, and the types of security risks involved, such as denial-of-service attacks and malware. The report investigates the equipment required for IT implementation and how the bank uses IT both internally and externally. It also highlights the importance of IT in the banking sector and provides recommendations for managing and monitoring IT systems, including security policies, employee training, and encryption technologies. The analysis emphasizes the need for robust security measures to mitigate the risks associated with IT in the banking industry. References from academic journals and industry reports support the findings and recommendations.
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