Information security is a critical issue for all organisations
I have been asked to write a report for the management team of an organisation of my choice. I will be exploring the critical issues of information security within that organisation. To help with my research I will be outlining the security risks, safeguards and contingency plans in case of a breach. The technological application I will be focusing on is Email.
Executive Summary
To summarise, I have researched the history of Lloyds Bank, the general overview of how the organisations information security is maintained and what methods and procedures they have in place. I have talked about the security risks and how the bank can ensure that their company is fully secure and how they can certify the protection of their customers.
I researched about the safeguards and the different types of methods that can be put in place to ensure security. The last section explores what contingency plans are for damage limitations on the event of a breach.
Overview
The organisation I have chosen is Lloyds Bank. According to (Wikipedia, 2015), Lloyds Bank is a "British retail bank with branches across England and Wales. It has traditionally been considered one of the "Big Four" clearing banks".
Lloyds Bank was founded in 1765 in Birmingham , the bank then prolonged during the 19th and 20th century and invaded smaller bank companies. In the mid 90 's it combined with the Trustee Savings Bank and traded as Lloyds TSB Bank plc
Andrew Bailey (2013) “The future of UK banking - challenges ahead for promoting a stable sector”. Bank of England [online]. Available from:
The Halifax was the largest building society and was the leading mortgage and saving company with a 22 per cent share of mortgages and 16 per cent of retail savings in UK. The Halifax over-relied on mortgage and savings while the mortgage market in particular during that time was becoming more and more competitive. The Halifax had been offered a unique opportunity to transform itself from specialising in mortgage and savings only into a broad based commercial bank, particularly in the corporate area by the Bank of Scotland. HBOS was then formed by the 2001 merger of Halifax plc and the Bank of Scotland. It was established as one of big four UK retail banks and also the largest mortgage lender in UK. However, HBOS now is a banking and
Whitman, M. E., & Mattord, H. J. (2010). Management of information security (3rd ed.). Boston, MA: Course Technology.
Barclays Bank, one of the biggest multinational banking and financial services companies in the world, headquartered in London. Barclays is the oldest bank of British, and it has a long history more than three hundred years, which can be traced to 1690. Barclays is the first bank in the world that owns the Automatics Teller Machine, and issued the first Visa card in 1966 and the first debt card in 1987 of British. Up to 2012, Barclays was the seventh biggest bank in the world with the total asset of £1.49 trillion.
The purpose of this assignment is to help me make a decision in my workplace on whether we should provide the Organizational Management Report (OMR) or OMR summary or both version reports to each organization who eligible to receive a report. There are two factors that we need to consider before we make the decision. The first factor is time. How long will it take us to populate five hundred and twenty full versions OMR and OMR summary? Our office has promised to provide the report by the second week of October. The second factor is the ability to understand the report. The majority of the managers and leaders find an OMR is a little overwhelming since the OMR has a total of forty pages. The majority of the manager and leaders do not have much time to spend on the report. On the other hand, there are organizations that want to have an OMR which allow them to manipulate the data and create their own survey report.
In this paper, I will identify security threats that Bank of America faces today. In addition, I will describe the techniques and processes used to identify the vulnerabilities and threats, describe risks to the information and related vulnerabilities within Bank of America when utilizing components of the web. Discussions on BoA safeguard against legal issues will be addressed followed by the types of social data that potentially cause problems for this bank institute. In conclusion, I will explain the legal, ethical, and regulatory requirements Bank of America utilize for the protection of the organization.
The risk of financial sector in the United States of America has become increasingly more apparent and more diverse to the United States over the last few decades partially because of the advanced computer and cyber based accounting networks that the Nation has shifted to. The security of our financial systems is absolutely critical including being one of the primary concerns and directly
The Royal Bank of Canada experienced some fundamental managerial errors in May 2003. It was reported as a major “glitch” that had been caused by wrong configuration during the installation process. A simple problem had severely affected the lives of millions of people. In this essay I will discuss the security and control problems such as the simultaneous upgrade of both the main and back-up systems. This will lead into the strategies management could have used to prevent these problems happening in the first place and what they can do differently in future. I will also explain how management neglected the public relations side of the issue which had customers questioning the reliability and stability of Royal Bank of Canada ultimately
Barclays also operates in many other countries across the world, where it is a provider of services to multinational companies and financial companies. “The Woolwich” and “Woolwich” are trading names that Barclays operates under, and through these Barclays delivers banking solutions to UK retail and business banking customers. Barclays serves its customers through a variety of channels comprising the branch network, cash machines, telephone banking, and online banking and relationship managers. Key employees =
While all of these technologies have enabled exciting changes and opportunities for businesses, they have also created a unique set of challenges for business managers. Chief among all concerns about technology is the issue of information security. It seems to be almost a weekly occurrence to see a news article about yet another breach of security and loss of sensitive data. Many people will remember high profile data breaches from companies such as T.J Maxx, Boston Market, Sports Authority, and OfficeMax. In the case of T.J. Maxx, a data breach resulted in the loss of more than 45 million credit and debit card numbers. In many of these incidents, the root cause is a lack of adequate security practices within the company. The same technologies that enable managers can also be used against them. Because of this, businesses must take appropriate steps to ensure their data remains secure and their communications remain
Today’s economy depends on the secure flow of information within and across organizations. Thus, making information security is an issue of vital importance. A secure and trusted environment for stored and shared information greatly enhances consumer benefits, business performance and productivity, and national security. Conversely, an insecure environment creates the potential for serious damage to governments and corporations that could significantly undermine consumers and citizens. The stakes are particularly high for businesses engaged in critical activities, such as electrical power generation, banking and finance, or healthcare.
Banks are limited companies. They are listed on the Stock Exchange and owned by shareholders. The banks’ shareholders expect to receive dividends, which are shares of the profits made. Banks therefore try to maximise their profits in the interests of their shareholders. Building societies operate in a very different way from banks. Since building societies do
This research report we will descuss about the current problems or issues regarding email security. It will specify about the increasing impacts and issues that is happening in todays world, mainly business and organizations are affected and have to suffer the aftermaths of this uprising issues. The evolution of email is discussed later on to shows how email became popular and how it influences the present world .Email flow is then discussed to specify a brief information of how the mechanism of email works and how the operations are executed .The importance of Email clients and servers has been pointed out in the later half giving a small insight about the topic .There after detailed specification of the various security issues are being analyzed and discussed pointing out some of the main draw backs in the whole system and the resources associated with it .Heading to the next part it points out the various concerns about emails and looks in deep to analyze and understand the ways in which possible alternatives can solve the problem and the dangers arising out of a security breach .Some application which are safer options for transmitting emails are discussed and the mechanisms in which they act as a much safer option is also discussed .Towards the end some possible alternatives are being discussed in the heading Simple steps to ensure email security and followed by a conclusion of how and why email security should be considered important .
It is quite unfortunate that most companies’ management only deals with the administrative, marketing and sales, and the production part of the company business, but felt the IT operations should be left solely to the IT personnel. In the long run, according to this chapter, the information security aspect of the company will suffer and remain underdeveloped because of lack of attention. However, if there is any security breach or attack, the top management will be the first point of contact. The top management will be held accountable and responsible for not adhering to the business practices.
Safety of information is the most valuable asset in any organization particular those who provide financial service to others. Threats can come from a variety of sources such as human threats, natural disasters and technical threats. By identifying the potential threats to the network, security measure can be taken to combat these threats, eliminate them or reduce the likelihood and impact if they should occur.