Essay on Cmgt 400 Week 2 Common Information Security Threats

1019 WordsOct 21, 20125 Pages
Information Security Threats to the Banking Industry CMGT/400 University of Phoenix Information Security Threats to the Banking Industry To start off with I chose to go with our banking or financial industry. The banking industry is constantly getting attacked by various methods on a daily basis. I chose this industry because I happen to know someone who works in the security sector at Wells Fargo Bank, he was a good person to get information on what he sees on a daily or weekly basis. This paper is the opinion of myself and with gathered information from various resources. The three main threats that face the banking industry are; Organized crime targeting financial…show more content…
This would halt if not shut down the entire bank for the day depending on how severe the attack was. In most cases the banks have a backup system in place in the event of these types of security breeches as well as natural disasters. During a security breech within the banking system everyone who does business with that bank and other banks who do business with that bank could all be effected if the breech went far enough before being discovered. The security teams within the banking system must always be constantly checking for attempts or attacks on their systems. Below is a list and description of the most common types of attacks on the banking or financial industry. Organized Crime targeting Financial Institutions Cyber crimes from criminal organizations has risen over the past few years many of these have been located overseas and most of them have been based in Eastern Europe that hire and direct hackers on what they want done. The statement has been made that the battle lines between cyber attacks by organized crime reaches far wider than just an institution's firewalls. One such organized cybercrime unit is the Russian Business Network they are one of the more well known criminal organizations delving into the global networks of the financial institutions. Assault on Authentication These types of

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