ENTERPRISE SYSTEMS SECURITY INT7223
Research Paper On
Information Security - Current Event
Submitted by:
Sowmya Tiruchengode Yegyanarayanan
000717417
10/06/2014
INTRODUCTION
We are living in a delicate world filled with threat to sensitive information, materialistic properties and even to human soul that possess it. Information is considered to be a fragile asset of a person or an organization, which is capable of creating disastrous outcomes, if not secured. There are hackers and cyber criminals out there, waiting to break into the security vault (may be servers) of every vulnerable company possible to extract the most valuable “Data” called personal information or bank information which can fetch them bags and bags of ransoms. The image …show more content…
The attack on JP Morgan Chase, which trades as Chase Bank, was originally identified in the month of July. This breach was officially first announced to the public during the month of August. But reports say that it is still under investigation by the bank and law enforcement. Its impact extended to the bulk of the bank’s customer base, affecting about 66% American households.
It has been confirmed according to scale of impact, as one of the largest security breach ever. Moreover, it came in an 8-K filing with the Securities and Exchange Commission (SEC), which revealed that the cyber criminals not only got away with the user information including names, addresses, email addresses and phone numbers, but also "internal JPMorgan Chase information". It is believed that the hackers used phishing scams and denial-of-service attacks to potentially obstruct their websites and internet activities. Moreover, the US government officials conceive that the hacking activities originate from …show more content…
It may lead to loss of vital customer information, organizational data, along with the negative impact on brand reputation, customer loyalty and market share. Similarly, the hacker’s attack on JP Morgan Chase, which is a world recognized bank will definitely be massive. Even though there are no significant threats or malicious activities, post- hacking, the customer’s trust on the bank has definitely dropped at least by a substantial percentage. Ultimately, in the forthcoming days, this ought to impact the stock and market share of Chase
Research Paper On
Information Security - Current Event
Submitted by:
Sowmya Tiruchengode Yegyanarayanan
000717417
10/06/2014
INTRODUCTION
We are living in a delicate world filled with threat to sensitive information, materialistic properties and even to human soul that possess it. Information is considered to be a fragile asset of a person or an organization, which is capable of creating disastrous outcomes, if not secured. There are hackers and cyber criminals out there, waiting to break into the security vault (may be servers) of every vulnerable company possible to extract the most valuable “Data” called personal information or bank information which can fetch them bags and bags of ransoms. The image …show more content…
The attack on JP Morgan Chase, which trades as Chase Bank, was originally identified in the month of July. This breach was officially first announced to the public during the month of August. But reports say that it is still under investigation by the bank and law enforcement. Its impact extended to the bulk of the bank’s customer base, affecting about 66% American households.
It has been confirmed according to scale of impact, as one of the largest security breach ever. Moreover, it came in an 8-K filing with the Securities and Exchange Commission (SEC), which revealed that the cyber criminals not only got away with the user information including names, addresses, email addresses and phone numbers, but also "internal JPMorgan Chase information". It is believed that the hackers used phishing scams and denial-of-service attacks to potentially obstruct their websites and internet activities. Moreover, the US government officials conceive that the hacking activities originate from …show more content…
It may lead to loss of vital customer information, organizational data, along with the negative impact on brand reputation, customer loyalty and market share. Similarly, the hacker’s attack on JP Morgan Chase, which is a world recognized bank will definitely be massive. Even though there are no significant threats or malicious activities, post- hacking, the customer’s trust on the bank has definitely dropped at least by a substantial percentage. Ultimately, in the forthcoming days, this ought to impact the stock and market share of Chase