Scenario  A bank named “xyz private limited” has three head offices and each head office has eight branches connected with them. These head offices are located in Lahore, Islamabad and Karachi. All branches share their transaction data with respective head offices, then three head offices synchronize their transaction data so that each head office have the same account and transaction details. There is also some branch specific data that needs to be securely stored in the branches and not to be shared with the other branches. Banking systems use multiple applications for their internal communications. This bank have simple username/password based security i.e. their internal applications have username/passwords based logins. Due to recent frequent account hacking incidents they need a security mechanism associated with their applications. They need Confidentiality, Availability, Integrity and Authentication. They are facing major intrusion attempts from outside Pakistan. There are also some low to moderate effective intrusion attempts from information security students of 3, 4 different universities. So, these are all attempts from outside their LAN. There is no chance of insider attacks. Secondly, on 15th January 2021 bank received a ransom-ware threat from anonymous. Ransom-ware are malware that can encrypt complete data present in banks. Thirdly, There are more than 1000 ATM hacking attempts are reported in December 2020. ATM machines are simple systems that have mechanical part that counts and outputs cash, Where as there is a software part as well that interacts with the users and mechanical part of the machine. ATM machines connect with the bank databases to process data and transactions. Suggest a list of security policies (at least 6) that can be used/deployed in least amount of time.

Principles of Information Systems (MindTap Course List)
13th Edition
ISBN:9781305971776
Author:Ralph Stair, George Reynolds
Publisher:Ralph Stair, George Reynolds
Chapter5: Database Systems And Big Data
Section5.4: Big Data
Problem 2CTQ
icon
Related questions
Question

Scenario 

A bank named “xyz private limited” has three head offices and each head office has eight branches connected with them. These head offices are located in Lahore, Islamabad and Karachi. All branches share their transaction data with respective head offices, then three head offices synchronize their transaction data so that each head office have the same account and transaction details. There is also some branch specific data that needs to be securely stored in the branches and not to be shared with the other branches. Banking systems use multiple applications for their internal communications. This bank have simple username/password based security i.e. their internal applications have username/passwords based logins. Due to recent frequent account hacking incidents they need a security mechanism associated with their applications. They need Confidentiality, Availability, Integrity and Authentication. They are facing major intrusion attempts from outside Pakistan. There are also some low to moderate effective intrusion attempts from information security students of 3, 4 different universities. So, these are all attempts from outside their LAN. There is no chance of insider attacks. Secondly, on 15th January 2021 bank received a ransom-ware threat from anonymous. Ransom-ware are malware that can encrypt complete data present in banks. Thirdly, There are more than 1000 ATM hacking attempts are reported in December 2020. ATM machines are simple systems that have mechanical part that counts and outputs cash, Where as there is a software part as well that interacts with the users and mechanical part of the machine. ATM machines connect with the bank databases to process data and transactions.

Suggest a list of security policies (at least 6) that can be used/deployed in least amount of time.   

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Public key encryption
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Principles of Information Systems (MindTap Course…
Principles of Information Systems (MindTap Course…
Computer Science
ISBN:
9781305971776
Author:
Ralph Stair, George Reynolds
Publisher:
Cengage Learning
Fundamentals of Information Systems
Fundamentals of Information Systems
Computer Science
ISBN:
9781305082168
Author:
Ralph Stair, George Reynolds
Publisher:
Cengage Learning