M7A1: Case Study: Risk Assessment of Cyber Crime
General Comments One item of great note in this case study is the fact that it is for a financial institution that is involved heavily in international transactions. This flavors the entire risk assessment because if a company is doing their work on a global and international basis, then there is the requirement of dealing with compliance, the legal and regulatory requirements in the rest of the world. For instance, the European Union has their independent privacy requirements and even Japan has a type of Sarbanes-Oxley, with France, Germany, Canada and Australia having both regulatory and legal requirements that must be embraced by anyone doing business with them (Tafara, 2006). Other counties
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The specific IT assets and technologies that are highlighted are internet applications, such as online transactions, human relations systems, wire systems and websites. Other resources are Blackberries, Android smart phones, I-Phones, cellular networks, short messages service (SMS), PC’s (include their operating systems), connected USB storage devices and any third-party software (Deloitte & Touche LLP, 2010).Most importantly, in this case, will be banking devices such as ATMs, kiosks, RFID enabled smartcards that allow secure financial access (Deloitte & Touche LLP, 2010). Finally included, are intranet portals, collaboration tools, authentication systems, voice over IP phones and private branch exchanges (PBX)’s, voicemail, identity management, log-on, password and user code technologies (Deloitte & Touche LLP, …show more content…
Almost every business deploys the traditional security based, methods to combat the threats of cybercrime; however, this is not sufficient to fully erase the threats. Any risk based method must look at what is leaving the IT environment, as well as the data inflowing, because, what is going out holds possibly greater significance than the traditional bastion based security methods (Peltier, 2010). Organizations must comprehend how visible they are to online criminal in regard to, targets of interest, attack routes, and possible process vulnerabilities. So to better defend against attack, a simple equation provides the underpinnings of the numerical system for rating risks and is expressed by the following: Risk = consequence × (threat × vulnerability) (Peltier, 2010). This equation is superior to the standard equation that only factors in threat and vulnerability and should be used for calculating
Crime Scenario: This case is about a missing 9 year old boy who lives with his mother, younger sister, and his mother 's boyfriend. The child has been missing for over 24 hours and the boyfriend seems very protective of the mother and answers most of the questions about the disappearance. The scene is overwrought with the media, neighbors, and volunteers offering to help with the search for the missing boy.
The ability to record information which is relevant to a product and service will help ensure an exceptional customer experience. The ability to access this information anywhere in the world is also key to supporting the customer. (http://www.cio.com/archive/ec_blueprint.html) Wireless devices such as laptops,
Australia is dependent on technology, everything from state security, economics and information collaboration is more accessible resulting in an increased reliance on digital networks. The rapid increase in cyber activity has a symbiotic relationship with cyber crime. The evolving nature of cyber crimes are constantly leaving counter measures obsolete in the face of these new technologies. Australia takes insufficient action against cyber crime, inaction is based on Australia’s previous focus on counter-terrorism. This study will use the Australia’s National Security Strategy 2013 to show the increasing trend towards cyber security. Unfortunately the Australia Government is lacking in the presence of this growing phenomenon. Recently cyber crimes including attacks from Anonymous and Wiki-leaks prove that no network is completely secure. This study will conclude that the exponential growth of the Internet has resulted in an inability to properly manage regardless of the governmental strategies being implemented.
Security helps the organization meet its business objectives or mission by protecting its physical and financial resources, reputation, legal position, employees, and other tangible and intangible assets through the selection and application of appropriate safeguards. Businesses should establish roles and responsibilities of all personnel and staff members. However, a Chief Information Officer should be appointed to direct an organization’s day to day management of information assets. Supporting roles are performed by the service providers and include systems operations, whose personnel design and operate the computer systems. Each team member must be held accountable in ensuring all of the rules and policies are being followed, as well as, understanding their roles, responsibilities and functions. Organizations information processing systems are vulnerable to many threats that can inflict various types of damage that can result in significant losses (Harris, 2014). Losses can come from actions from trusted employees that defraud the system, outside hackers, or from careless data entry. The major threat to information protection is error and omissions that data entry personnel, users, system operators and programmers make. To better protect business information resources, organizations should conduct a risk analysis to see what
There are multiple crime television shows that are based on a true story or fiction. A well known television show is Law and Order Special Victims Unit, which deals with rape and assault cases. This particular episode deals with a domestic violence case between a retired football star, AJ Martin, and his girlfriend, Paula Bryant. I will be using the National Crime Victimization Survey, which is an interview with the members in a household about reported and unreported crime that occurred within the last six months. “NVCS provides information of characteristics of victims, including age, race, ethnicity, gender, marital status and household income” (Truman and Morgan). Official statistics like the NCVS would be used for comparing its demographics
Information Technology (IT) is a foundation for conducting business today. It plays a critical role in increasing productivity of firms and entire nation. It is proven that firms who invested in IT have experienced continued growth in productivity and efficiency. Many companies' survival and even existence without use of IT is unimaginable. IT has become the largest component of capital investment for companies in the United States and many other countries.
McLaughlin and Muncie (2012) in their work indicate that “crime is not a self-evident and unitary concept. Its constitution is diverse, historically relative and continually contested.” With this statement, the authors are describing crime as something which is not unique but, on the contrary, it is a fairly normal and widespread event. Moreover, they are stating that crime depends on time and culture and it is shaped by morality and social attitudes. Crime can be linked to different areas such as economics, social status and geography. In this essay, different themes will be discussed: for instance, the main ones are the history of crime, the different types of crime, how to measure crime and the various ideas of crime in different parts of the world.
As electronic commerce, online business-to-business operations, and global connectivity have become vital components of a successful business strategy, enterprises have adopted security processes and practices to protect information assets. But if you look at today's computing environments, system security is a horrible game of numbers: there are currently over 9,223 publicly released vulnerabilities covering known security holes in a massive range of applications from popular Operating Systems through to obscure and relatively unknown web applications. [01] Over 300 new vulnerabilities are being discovered and released each month. Most companies work diligently to maintain an efficient, effective security policy, implementing the latest products and services to prevent fraud, vandalism, sabotage, and denial of service attacks. But the fact is you have to patch every hole of your system, but an attacker need find only one to get into your environment. Whilst many organisations subscribe to major vendor's security alerts, these are just the tip of the security iceberg and even these are often ignored. For example, the patch for the Code Red worm was available some weeks before the worm was released. [02]
The ability to conduct warfare through technological methods has increased information security awareness and the need to protect an entities infrastructure. Subsequently, cyber warfare produces increased risk to security practitioners that employ technology and other methods to mitigate risks to information and the various systems that hold or transmit data. A significant risk to information lies in the conduct of electronic commerce, hereinafter called e-commerce. E-commerce is the purchasing or selling of goods and/or services through the internet or other electronic means (Liu, Chen, Huang, & Yang, 2013). In this article, the researcher will discuss cyber warfare risks, present an evaluation on established security measures, identify potential victims of identity theft, and present an examina...
Every day millions in some cases billions of dollars are made by businesses from income brought in by online sale of products and services. As businesses continually develop and expand their client base with online products and services so does the desire by criminals to exploit vulnerabilities in their e-commerce setup. The mass worldwide internet usage growth within the last 20 years has been “an approximate 16 million users in 1995 to an estimated 2,937 million in March of 2014” As the importance of e-commerce increases so does the need to protect the technological infrastructure that will carry out online transactions for each business regardless of its size. I will attempt to highlight and review the history of a few cyber crimes to show the progression of the crimes within the last 30-40 years. I also plan to review how the economy and consumers are impacted by cyber crimes. Finally I will make an effort to contribute with information gathering on how to lower the risk of a cyber attack from and individual user to a large scale business.
Business today is inextricably intertwined with technology, from the smallest home office, to a multinational corporation with multiple monolithic legacy application. It is impossible to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunication, travel, stock market, shipping even around our daily lives. E-commerce a system by which people can buy, sell and deal without even seeing the person on the other side has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking. The Internet, a boon to all business, is playing a part of a catalyst; it links millions of customers to its suppliers and vice versa due to this, manufactures are able to cut the role of middlemen and are able to deal with the customers, giving them the ability for direct input from the customers about their choices and views of their product. The busi...
Payment cards - They include stored financial value that can be moved from the customer's computer to the businessman's computer.
One particular crime that could be committed by employees who use the internet at work is hacking. Hacking is one of the most well-known types of computer crimes, in this context, the term refers to the unauthorized access of another’s computer system (HG.org Staff, 2015). This means that if the employee in not allowed to use the internet, for personal use, than there is a possibility that they could get charged for such crime. Because the policy will state they do not have the authority to access the organizations computer system for personal use. In addition, they must know that all use of computers systems while at work will be monitor, including e-mails. Piracy and cyber terrorism are other crimes that one can face when using a computer
Recently, the Internet has become the most significant technology in all over the world, which is not only used by the people to contact with each other but also utilized by the business organizations to become global (Taylor, Caeti, Loper, Fritsch & Liederbach, 2006). Computer and internet enable the business organizations to execute the Electronic commerce business model, which has become very popular. Computers and Internet are a powerful source in the success of globalization and international business. Computers are being used worldwide and due to this, cyber crimes are increasing continuously with a rapid growth (Cheeseman, 2006).
Cybercrime refers to all forms of crime conducted through a computer or a mobile device using computer networks. It is thus the use of a computer with the aim of intercepting and manipulating content, disrupting communication, stealing or generally destroying others’ information or hardware through a network. Although cybercrime is a worldwide problem and affects both small and big companies, small companies are affected more from the dangers of cybercrime. The rapid advancement in technology is causing tremendous problems to businesses in terms of more sophisticated cyber-attacks. This project is interesting and beneficial because it enlightens one on the dangers of cybercrime, thus preparing individuals to know how to prevent attacks while online, how to reduce the effects of a cyber-attack and how to prevent future