Information Security Report: Banking Security and Breaches

This report addresses two key aspects of information security. First, it analyzes a recent information security breach in the banking sector, discussing its potential causes, consequences such as data loss, reputational damage, and financial implications. The report highlights the vulnerability of customer data and the impact of cyber-attacks on financial institutions. Second, the report explores corporate mission statements, with a focus on Patagonia's statement, and examines how information security practices can align with and support the achievement of broader business goals, such as environmental responsibility. The report also mentions the challenges faced in finding relevant mission statements and the importance of incorporating information security into business operations. The report is supported by references to key information security literature.

Running head: Report on the Information Security
REPORT
ON
THE INFORMATION SECURITY
Name of the Student
Name of the University
Author Note:

1Information Security
Answer to the Question 1:
a) After a successful investigation on the information security field, it has been noticed
that there is a significant information security breach present related to the banking
operations, which has highly effected the individuals by affecting their financial
status. Followed by the aspects related to the information security in the banking field
it has been specified that since, banking is one of the most sensitive field it is essential
to protect the customer data. However, several research has mentioned that there are
various breach present in the banking field related to hacking the customer account
and steeling their money, utilizing the customer detail in order to have the access of
the accounts. Thus, it can be states that in the field of banking information security is
highly essential.
b) According to my point view the primary reason behind these breach is the
collaboration of the information system holds the risks which causes the most
significant impact on the banking services. Since, most of the information system
utilises the online information system thus, there is a major possibility of cyber-attack
in order to extract the customer information to use those data in some illegal manners
to steel the money.
c) Considering the above aspects there are several consequences present which harms
the banking services. Those consequences are listed below:
 Due to the less effective information security in the banking industry it can cause
the data loss related to the customer information, which can have a significant
impact on the saved money.
 It also holds a significant impact towards the bank reputation.
 Along with that in order to protect the baking server from the cyber threat the bank
authorities have the responsibility to spend high amount of money.

2Information Security
Answer to the Question 2:
a) In order to search a corporate mission statement I have used Google as the search
engine. However, while searching the corporate mission statement I did not faced any
difficulties as Google has effectively provided me several searched topic related to the
mentioned topic.
b) Addressing the asked question I must state that there in the current organizational
scenario most of the business structures has incorporated the Information System in
order to enhance their business process. However, there are very few organization
who has selected the process to the provide security to those information system
operation as a result of which it causes significant security issue related to the
information loss and the organizational privacy as well as the cyber-attack. Thus, it
can be stated that this identified threat area needs to be addressed in order to provide
efficient organization services to their customers.
c) According to the business mission statement of the Patagonia it has stated that "Build
the best product, cause no unnecessary harm, use business to inspire and implement
solution to the environmental crisis”. From the above statement Patagonia has
mentioned that they are opt for delivering the best quality services to the customers in
order to mitigate the environmental crisis. Thus, it can be stated that information
security has significant impact of this statement as the better utilization of information
security can help the business structure to enhance their services.

3Information Security
Bibliography:
Merkow, M.S. and Breithaupt, J., 2014. Information security: Principles and practices.
Pearson Education.
Peltier, T.R., 2016. Information Security Policies, Procedures, and Standards: guidelines for
effective information security management. Auerbach Publications.
Safa, N.S., Von Solms, R. and Furnell, S., 2016. Information security policy compliance
model in organizations. Computers & Security, 56, pp.70-82.
Xu, L., Jiang, C., Wang, J., Yuan, J. and Ren, Y., 2014. Information security in big data:
privacy and data mining. Ieee Access, 2, pp.1149-1176.