Assignment help for Region Online Banking

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Description

Assignment help for Region Online Banking

 

Scenario

 

  • The organization is a regional XYZ Credit Union/Bank that has multiple branches and locations throughout the region.
  • Online banking and use of the Internet are the bank’s strengths, given limited its human resources.
  • The customer service department is the organization’s most critical business function.
  • The organization wants to be in compliance with Gramm-Leach-Bliley Act (GLBA) and IT security best practices regarding its employees.
  • The organization wants to monitor and control use of the Internet by implementing content filtering.
  • The organization wants to eliminate personal use of organization-owned IT assets and systems.
  • The organization wants to monitor and control use of the e-mail system by implementing e-mail security controls.
  • The organization wants to implement this policy for all the IT assets it owns and to incorporate this policy review into an annual security awareness training program.

 

Assignment Requirements

 

Using the scenario, identify four possible information technology (IT) security controls for the bank and provide rationale for your choices.

 

Answer & Explanation

 

Using the scenario, identify four possible information technology (IT) security controls for the bank and provide rationale for your choices.

 

ADMINISTRATIVE CONTROLS

 

Refers to a set of policies and guidelines enforced to all the users in network that usually limits and prohibit access to sensitive data, application, a network resource, and devices. A practical example of Administrative controls is a policy that disables application installation at the user level. Which basically means only allowed applications can be installed in the workstations.

 

TECHNICAL CONTROLS

 

It generally refers to the set of hardware and software installed to protect the IT assets in the Network. A common example of this are Firewalls, Routers, and Network Intrusion Detection Systems.

 

PHYSICAL CONTROLS

 

Refers to the security measure deployed to secure the physical areas and IT assets of an organization. This includes things like fences, gates, guards, security badges and access cards, biometric access controls, security lighting, CCTVs, surveillance cameras, motion sensors, fire suppression.

Cyber Security Plan Protocols

INTENSIFIED SECURITY EDUCATION

As a cybersecurity professional, this is the most challenging part of the aspect of implementing security protocols in an organization. Sophisticated systems and protocols implemented are useless if the users are unaware of their own responsibilities in ensuring the security of the organization. Proper education with regards to the aspect of cybersecurity will be a great help to overall security since users are all aware of the dangers of the Internet.

 

INCREASE AWARENESS

It is a good practice to have an Open Source Intelligence (OSINT) report for the organization. This will give significant insights to the Network Security Administrator to what particular information is published online. This will help mitigate risks on possible data breaches the company is unaware of.

 

CRAFTING ACCEPTABLE USE POLICIES

This is one of the effective methods where the employee will be aware of the do’s and dont’s when using company resources, data, and the Internet. You should craft a set of acceptable use policies to have a set of rules and regulations that will inculcate awareness to all employees in the aspect of network security.

 

MAKE SURE TO HAVE CONSTANT UPDATES

Outdated operating systems and applications are the common causes of network breaches and vulnerabilities. Make sure as the network administrator you have integrated this process to your preventive maintenance plan.

 

 

USE TWO-FACTOR / MULTI-FACTOR AUTHENTICATION SYSTEM

 

This should be a recommended practice, especially for online banking transactions, enabling multi-factor authentication to mitigate the risks of having your account being compromised.

 

PERFORM REGULAR DATA BACKUPS

 

Having a regular data backup is a good practice, there are numerous cloud storage options you can choose from. This will help you recover from the risk of ransomware and virus infection.

 

References:

 

· https://geekflare.com/secure-web-application-server/

· https://www.upguard.com/blog/network-security-assessment

· https://en.wikipedia.org/wiki/Disaster_recovery_and_business_continuity_auditing

· https://entechus.com/7-key-elements-of-a-business-disaster-recovery-plan/

· https://info.knowledgeleader.com/bid/161685/what-are-the-five-components-of-the-coso-framework

· https://kirkpatrickprice.com/video/5-components-internal-control/