Computer related risks presentation
- 1. Computer-Related Risks Lion International Bank S.C. (LIB) is a privately owned Share Company, established on October 2, 2006 in accordance with Proclamation 84/94 and the commercial code of Ethiopia and officially inaugurated for public services on January 6, 2007.
- 2. External Risks That Apply Trojan viruses hiding in websites, emails, or downloads. Organized counterfeit check ring activity. Debit card fraud through use of skimming devices. Wire fraud, external loan fraud, identity theft, fraudulent accounts, online customer credential theft and hijacked accounts.
- 3. Internal Threats The “trusted insider” threat: false applications, manipulation of data, theft of money and data from customer accounts. Lax IT department security procedures. Failure of management to implement best practices security measures, i.e. Clean Desk Policy.
- 4. Potential Outcomes of Inaction Externally most pressing risks are viruses. Internally most pressing risks are employee/trusted insider theft. Slowdown or shutdown of bank website and ability to serve customers. Security of accounts and data compromised. Loss of potentially millions of dollars and loss of consumer confidence and trust.
- 5. Security/Software Recommendations Utilize encryption system based on SSL certificates with a RSA encryption algorithm. Use key exchange via 1024 bits RSA key, with all traffic secured with 128 bits encryption. Implement use of Gladiator Technology's Raw Traffic Analyzer © Begin a bank-wide Clean Desk Policy.
Editor's Notes
- #2: http://www.anbesabank.com/index.php?option=com_frontpage&Itemid=28
- #3: http://www.investmentinternational.com/news/banking/uk-bank-account-customers-hit-by-most-dangerous-computer-virus-ever-3778.html http://www.techworld.com.au/article/344123/how_investigators_work_combat_data_theft/ http://www.bankinfosecurity.com/articles.php?art_id=2019&
- #4: http://www.bankinfosecurity.com/articles.php?art_id=2019& http://www.lloydstsb-ipb.com/w3/en/Online-Banking/E-banking-Security.html
- #5: Virus attacks were cited as the most common form of security incident, affecting 78 per cent of respondents. Virus attacks are contributing the most in terms of financial loss stemming from security incidents owing to the emerging threat of virus attacks being combined with denial of service attacks - costing companies more than double in monetary terms than any other type of security breach reported. After virus attacks, insider abuse of networks was cited as the second most common form of security incident, reported by 59 per cent of organisations, followed by laptop or mobile phone theft, which affected 49 per cent of the survey sample. http://www.theregister.co.uk/2004/08/05/fbi_security_stats/
- #6: Thirteen of the banks surveyed used some type of back office or teller modules that included kiting detection software. Eight used positive pay systems that can catch fraud before it occurs by matching checks written with those being cashed to catch items such as voided checks, stolen checks, altered amounts, or duplicate serial numbers. Banks not currently using such systems said they planned to in the future. http://www.bankersonline.com/articles/bhv12n09/bhv12n09a4.html http://www.gladiatortechnology.com/press/BFITSRDec09.pdf www.sans.edu/resources/student_projects/200808_01.doc