Question

In a minimum of 350 words, briefly compare and analyze two similar scenarios. Research scenarios that took place in the real world within the past five years that are similar to the scenario above. Select two and briefly compare how each case is similar to the scenario given and analyze how they differ. Based on the research you have found with similar scenarios, identify and describe two steps the victims of the data breach at ABC Bank can take after being alerted that their personal information was compromised.

This is the Scenario is was given and I'm having a hard time finding anything.

You work for B&SC Security, a security firm that is in charge of monitoring data breaches for ABC Bank. In the 5 years that you have worked for B&SC Security, you now manage a team of people; one of your tasks is to make sure that the data at ABC Bank is safe and the networks are secure. In the summer of 2018, ABC Bank experienced its biggest data breach. It has well over 10 million customers and from those 10 million customers, 6.5 million customers’ personal information such as names, addresses, social security numbers, bank account numbers, etc. were compromised. Hackers were able to find a weak spot in the security network and exploit it to gain access to the information which they stole. The attack went unnoticed for 90 days. Your security firm is starting to learn that some of the information that was stolen is now being used by the hackers to commit identity theft. ABC Bank has now reached out to you regarding the breach and to prevent future security breaches from occurring. Since then, you have been in constant communication with the President of ABC Bank and working closely with her to determine what can be done about the information that has been compromised, what changes need to be made in terms of security, and what future trainings and resources can be implemented to prevent another major data breach.

Your task is to prepare an analytical report to the President of ABC bank that determines the effects of the breach that occurred and investigate methods that can be used to prevent this magnitude of a breach in the future.

Answer 1

Report for President, ABC Bank

In the growing digital world of today, we first have to realize that we are at the verge of cyber crime and fraud. The systems that are more vulnerable to banking and financial problems are helping to render these malicious attacks.

This data violation can have an inferior impact on customers 'financial and personal properties.

Unlicensed Transaction:

Few customers may have seen their account transactions already. This can be accomplished in many ways, for instance using customer data like credit card number, birth data, etc., to search the online trading portal details or POS terminals.

Cloning of the data:

It is another effect we believe that hackers may have used data cloning methods to build multiple double-cards. Hackers can feed financial authentication data to customers on an empty card in this data cloning process. This cloned card can be used for all forms of transactions until data is transferred to the card.

Customer misuse of personal data:

Such details are also jeopardized along with other financial records including account number, debit card, credit card, password etc. Such personal information include customer name, address, social security number, etc. These personal information can be marketed to other telephone firms and the Internet on the black market. These personal data can be used then to target potentials customers without their permission for various product promotions and related activities.

Consider a potential safety mechanism to safeguard these attempts in the future: complex firewall protection:

During our analysis of the recent data infringement, we discovered that firewall security for bank data safety was of a lower quality. We therefore suggest the complex firewall defense that was extended to various international banks in order to safeguard the future of this event.

Improving and upgrading the security of antivirus:

At worst, our second best protection is antivirus if external firewall security layer is affected somehow. In our sample, an advanced virus was used by attackers to steal the data from their servers. Therefore, it is strongly recommended that the most effective and sophisticated antivirus algorithms protect our banking data.

Approach distributed instead of centralized:

We have found that the hackers could steal these big data as a result of the fact that all customer data is stored on our central Database. If it was used on several system / servers we might have avoided this. This was possible. Hackers will therefore never have access to all the data in one location. And if you were able to steal data from a certain chief, you would obtain partial customer data rather than full data. We therefore advocate following the collaborative method of holding ledger.

Multi-User Management Minimization:

We would like to say this is an significant recommendation. Our study found that the use of central server data by multiple users was permitted and that monitoring the people who accidentally shares authentication rights with an undesirable person proved difficult. The key to avoiding any such accidents is therefore restricting the number of users accessing the main data.