Question

• When looking at securing your bank accounts, what type of considerations should anyone take before choosing an electronic method of payment?
• Business continuity planning is now a business best practice expectation for information security and overall operation. What are the considerations that a business must consider when developing their BCP? What are the phases of such a plan?
• For any web based business there has to be a method of tracking success which usually is accomplished through Web-centric metrics. What Web-centric metrics would you want to consider if you had a web based business?

Answer 1

Security is done on the both the side such as business side and individual side. When we look for the security of bank accounts, the types of considerations should be followed by anyone before choosing an electronic method of payment are as below:

1. Always choose the two factor Authentication method.
2. Strong password is always needed.
3. Up to date the devices which is used for the electronic payments.
4. Avoid the links, emails and ads which shown during the process. Do not click on them.
5. Use the trustable device rather than public devices or locations.
6. Log out the window always.
7. Change the password on regular time intervals.
8. Monitor account regularly.
9. Do not share information to anyone.

There are many more options as per the country so they also be followed.

Business continuity planning is the process which creates the systems of prevention and recovery in order to avoid threats to the business. This planning is now a business best practice expectation for information security and overall operation. The considerations that a business must consider when developing their BCP are as follows:

1. The potential risks, threats or issues to the business.
2. The areas which covered by threats and their responsibility.
3. Emergency information if needed for the contact.
4. Teams act in emergency situations.
5. The back of the information and data which is important.
6. Power arrangement for the backup.
7. Alternatives for the operation of the business.
8. Alternatives for the communications.

The phases of such a plan are as follows:

1. Initiation phase- The methodology, validity of plan, aspects, teams, information, inventory, stakeholders etc. would be analyzed and allocated.

2. Business Impact Analysis and risk Assessment phase- It considers all the business functions and threats which are critical and their impact on the business process.

3. Strategy development phase- Based on the information in the second phase the strategy for the recovery has been created in this phase.

4. Business continuity plan development phase- The business community plan would be developed based on the above three phases which includes department level DR plans, external supplier response plans, coordination plan, emergency response plan etc. it should be updated on the regular basis.

5. BCP Testing phase- This phase tests the plan which has been made are working properly or not.

6. Maintenance of the Plan- The maintenance of plan should be done as the outdated plan would not work as it is no plan.

Web-centric metrics are used for the tracking the web-based businesses success. It is the method. The Web-centric metrics would i want to consider if I had a web-based business are as follows:

1. Revenue
2. Visitors /Customers
3. Leads
4. Referrals
5. Bounce rate
6. Conversion rate
7. Top 10 pages and page views