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 This paper "Emerging Information Security Threat Advisory White Paper" focuses on the challenge that financial institutions face while securing their private data from hackers. The paper focuses on social engineering and how the institutions can secure their employees and data analysts…
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Emerging Information Security Threat Advisory White Paper
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Download file to see previous pages Accordingly, businesses have to be prepared on how to address the ever-changing and sophisticated malware and cyber-attacks. Notably, there has been a significant advancement in the nature of computer and network security attacks owing to increased literacy on computer systems and networks (Webster, 2006). I have already identified the following four issues as among the emerging information security threats that businesses involved in the financial sector should be ready to address in order to secure their data from unauthorized access.
1. Social Media: Unarguably, the access and use of social media platforms, such as Twitter and Facebook websites have been on the increase. Some employees access their social media accounts using computer devices provided by the company. Stakeholders in the financial sector have to be careful and ensure that an organization’s devices are not used to access social networking sites. The use of the organization’s computer devices and networks can expose the financial institution to cyber-attackers and spammers, which can jeopardize the security of private and confidential data.
2. Social Engineering: Stakeholders in the financial sector should also be aware of individuals who can manipulate legitimate employees after securing their trust to access vital information about the institution, and its clients. The attackers are capable of accessing passwords, IP addresses and other vital information that can be used to access the institution’s computer networks and thereby fleece the company of its resources.
3. Inadequate backup and data recovery options: It is notable that financial institutions normally gather and store voluminous data about their clients. However, at times, the computer networks may suffer power outage or mechanical problems which may lead to loss of vital data. Financial institutions have to devise appropriate means of backing up any stored information and recovering such in case of any unexpected data loss.
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