Cybersecurity for Mistral Bank
Mistral Bank is one of the global financial services company headquartered in the United States where it is the third-largest bank holding firm and fourth-largest in assets held by deposit and market capitalization respectively. Since its inception, the company has experienced tremendous growth and profitability to an extent that it currently serves customers in over 40 countries and has significant relationships with U.S. Fortune 500 and Fortune Global 500 companies. The other factor that has contributed to the growth of Mistral Bank is mergers and acquisitions such as the acquisition of a major regional bank 6 years ago. However, the successful operations of this financial institution is threatened by cybersecurity threats, which have become common in the modern business environment. As a result, this financial institution faces the need to create a comprehensive cybersecurity plan to support its business mission by addressing cybersecurity threats. This paper focuses on discussing cybersecurity technology issues/threats in the banking and financial services sector as part of developing a cybersecurity profile to support the business mission of Mistral Bank.
Cybersecurity Technologies Used to Attack Banks and Financial Institutions
Banks and financial institutions have undertaken several measures to enhance their cybersecurity efforts in recent past given the proliferation of cybersecurity threats and issues. However, these efforts to bolster cybersecurity have not completely eliminated these threats and issues. This is primarily because criminals use different classes of cybersecurity technologies to attack banks and financial institutions. One of the major classes of cybersecurity technologies used to attack banks and financial services is computer networks. According to Snow (2011), cyber criminals are increasingly targeting computer networks of large payment processors. Through this process, the cyber criminals compromise the personal information of millions of people, which they utilize for the criminal activities. For example, in November 2008, hackers breached a company's
Cybersecurity Technologies Used in the Banking/Financial Services Sector
Companies in the banking and financial services sector have become increasingly aware of the compounding challenges relating to threats from cybercrime. Cybercrime has become a major risk factor to the successful operations of banks and financial institutions because they rely on legacy technology systems that are expensive to maintain (Snow, 2011). In light of the increased awareness of the threat of cybercrime, organizations in this industry utilize several technologies to enhance their cybersecurity. One of the cybersecurity technologies utilized in this center is authentication, which is customized for every customer. Authentication is utilized as the basis with which the bank monitors the behavior and attributes of the customer as well as the key for accessing the institution's infrastructure and data. As a result, this cybersecurity technology is utilized to provide greater protection to…
Human Aspects in Cybersecurity on a Private Organization and a Government Agency In the contemporary digital environment where online communication and internet have become a necessity, the advancements in sophisticated modern technology have assisted both private and public organization to take the advantages of communication networking by expanding their network systems to facilitate information exchanges. Globally, more than 2 billion internet and 5 billion mobile phone users make connection daily. Moreover,
Financial fraud refers to the act of deceitfully and illegally taking money or property for personal gain. It is an ever-evolving problem with serious implications for individuals, businesses, and the economy at large. The variety of fraudulent activities includes, but is not limited to, embezzlement, forgery, Ponzi schemes, insurance fraud, and identity theft. In the era of globalization and technological advancement, the landscape of financial fraud has broadened, with fraudsters
Outline: Should Digital Currency Replace Paper Currency in the United States?1. Introductiona. Hooki. Imagine a world where everyone uses electronics or cards to conduct financial transactions? A world where no one exchanges cash or coins for payment for service but a swipe of a fob or press a button, and currency is transferred.b. Preliminary Thesis statementi. In the United States, replacing paper money with digital currency as legal tender will
Small Medium Enterprise Set Up Mission statement Business goals Marketing Market research (location and size of market) Market segmentation (which segments will you target) Marketing plan Products/services and target market(s) Placement Promotions and advertising Pricing policy Evaluation of marketing Operations Legal and licensing requirements Organisational structure and staffing Insurance and security issues Business premises Equipment required Production process Critical risks/contingency plans Financial projections Capital expenditure forecast Sales forecast Cash flow forecast Projected profit and loss statement Owner's personal expenses (continued on next page) Environmental responsibility and Eco-sustainability Implementation timetable Conclusions and future directions Executive Summary Business Plan Structure The business plan
Safeguarding Health Information: The Importance of Cybersecurity in Healthcare Introduction In today's digital age, the healthcare industry faces unprecedented challenges in ensuring the security and confidentiality of patient information. With the increasing reliance on electronic health records (EHRs) and interconnected medical devices, the need for robust cybersecurity measures in healthcare has never been more critical. Cybersecurity in healthcare refers to the practice of protecting electronic health information from unauthorized access, use, disclosure, disruption,
Future of Cyber Security Report on the Legal and Technical Future of Cyber Security The future of Cyber security relies on the quality of decisions that the government seconded by the private sector process as for now. Attacks on networks and databases have become a complex and lucrative activity that attracts a financial gain for people involved in that business. For this reason, there is a need to determine whether the existing
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now