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Key Topics
Requirement
Discuss a minimum of three vulnerabilities that your firm may have with respect to potential computer crimes.
Solution
Introduction
The three vulnerabilities that the firm might face on the cyber crimes are:
Human Factors
The most common factor that is less technological but has increased cyber security risks is the human factor. It has often been seen that the weakest link that threat the cyber security of a company are the employees. The employee plays a very important role in strengthening the information security of the firm. Some of the ways that impose threat to the cyber security are when:
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Employees use their laptops (18%), emails(17%) or connect their mobile devices to copy data (16%), remote access (17%) and social engineering can inflict severe damage to the firm;
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It is usually done for monetary profit (16%), eagerness (12%), vengeance (10%) and sheer fun (6%). (Zaharia, 2015)
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The companies can face a lot of issues due to this factor and hence experience heavy loss either confidentially or loss of the data. In some of the cases, these issues can result in decreased reputation in the market or even disruption of critical system important for business. Another kind of severe dangers due to this factor can be the loss of revenue or loss of their clients and customers.
Solution:
The company can install the keylogger and thus track the activities of their employees to keep in track the usage and their networks to make sure that the system provided to them is not being used for unethical purposes. The employees should further be trained and made aware of the important cyber policies by using various security training programs designed for them. The employees present at every level of the organization must be provided with the tools they need.
Some other methods can be:
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Using a secure file transfer system that will encrypt the information present in the employee’s desk and hence only the concerned authorized recipient can access it.
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The employees should lock their laptop screen before leaving the office;
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Scanning the mobile phones and other devices for malware when they are connected to the office network etc.
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Place Your OrderSecurity Policy
The security standard must be present in each and every firm that involves all the handling of clients' accounts with confidential information, data, and many security numbers and prepares tax returns using computer records. Hackers pose a great danger to these firms in finance as well as tech sectors. The 18th Annual Global CEO Survey of PwC in 2015 stated that around 61% of CEOs are bothered about the cyber security whereas around 48% worried regarding the issue a year ago. And around 78% CEOs think that adopting technologies related to cyber security can be seen as strategically efficient for the firms and businesses. (PwC, 2015)
Lack of cyber security policy can impose a great danger to the company, and if the employees of the firm are not engaged with this kind of policies, it can cause severe issues.
Nowadays, the companies should seek the advice of cyber security as much as they seek legal and financial advice from their experts. (Moritz, 2015). Companies should develop policies and practices so as to secure their information.
Solution:
The companies should involve the cyber security policies such that:
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The company can identify all the risks that are related to cyber security
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It can establish the cybersecurity governance
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The policies, methods and other processes must be developed
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These policies protect the networks, data, and information of company
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The identification of risks that are associated with the remote access to information related to the clients and customers and the requests related to funds transfer
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The risks related to third parties can be defined and handled risks
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The unauthorized activities can also be detected.
Due to a high number of security threats, the government is also playing a dominant role for determination of the security strategy for major companies. In a survey by Dell, over 53% of the companies of the overall companies who were surveyed claimed that the policies of the government have proved to be beneficial for them while only around 17% said that the policies were not particularly effective for their business. (Protecting the organization against the unknown, 2014)
Constantly Evolving Risks
The one risk that cannot be handled efficiently is the polymorphism specific to viruses. The Polymorphic virus and malware are such hazardous and destructive computer software as a virus or Trojan etc. that can constantly change , and thus, these cannot be detected even with an efficient anti-malware program or software. Hence, these risks must consider in the company, and the firm should be protected with an extra covering of protection along with the antivirus solution.
In fact, the rootkit can also be injected into the programs via the emails, downloads, uploads or websites that have malware. Once it is injected it creates a back door to the black hat and will allow the entry of any unauthorized entry. This can be extremely problematic for the company as it will impose great danger to the informational and financial data stored in the system. (Harrell, 2016)
Solution:
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The first line of defense which can identify the malware and related software along with the ability to block the access to services controlled by the hacker and help in leakage of data must be fitted in the system of office. Along with all the advantages mentioned above, it can keep the system protected from all the similar vulnerabilities. (Zaharia, 2015)
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A solution that can scan the incoming as well as the outgoing of the Internet trafficorder to identify various threats and to keep them from infiltrating to the organization system.
Reference
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PwC, (2015). 18th Annual Global CEO Survey. Retrieved 18 February 2016, from http://www.pwc.com/gx/en/ceo-agenda/ceosurvey/2015.html
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Moritz, B. (2015). How corporate America can fight cybersecurity threats. Fortune. Retrieved 18 February 2016, from http://fortune.com/2015/02/17/how-corporate-america-can-fight-cybersecurity-threats/
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Zaharia, A. (2015). 10 Critical Corporate Cyber Security Risks - A Data Driven List - Heimdal Security Blog. Heimdal Security Blog. Retrieved 18 February 2016, from https://heimdalsecurity.com/blog/10-critical-corporate-cyber-security-risks-a-data-driven-list/
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Protecting the organization against the unknown. (2014) (1st ed., p. 9). Retrieved from http://software.dell.com/documents/protecting-the-organization-against-the-unknown-whitepaper-27396.pdf
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Harrell, L. (2016). Internet & Cyber Crime Terms and Definitions. Pursuit Magazine. Retrieved 18 February 2016, from http://pursuitmag.com/cyber-crime-terms-and-definitions/
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