Essay on Risky Situation

1481 Words Nov 23rd, 2013 6 Pages
University of Phoenix Material

Risky Situations

Identify three types of sensitive information involved with each situation. Then, describe three ways in which each information item could be misused or harmed. For each of these, note at least one likely finding that you would include in a risk analysis report of the organization. Finally, answer the questions at the end.

Situation 1 – Online Banking System
Information Affected
Potential Harm (Risk)
Likely Finding in Risk Analysis Report
Bank Account Numbers
Can be used to steal the user’s funds.
Low/medium risk, high probability

Can be used by terrorist organizations for money laundering.
Very high risk, medium possibility

Loss of brand reputation to the bank as
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High risk, medium probability
Employee pay scales
Can be changed so employee gets paid less than what they are supposed to.
Low risk, low probability

Can be changed so employee gets paid More than they are supposed to, costing the company more than budgeted.
Low risk, low probability

Can be accessed and information can be released to the rest of the employees of the company, causing internal turmoil.
Medium risk, low probability
Company payroll account information
All funds in account can be stolen.
Very high risk, low probability

Account number can be deleted from system so all employees of the company do not get paid on time.
High risk, low probability

Account information can be given to terrorist organizations where they can use the account to launder money, or
Very high risk, medium probability

Questions

1. What is the most effective way to identify risks like those you noted in the tables?

The most effective way to identify risks like those noted in the tables above is to perform a risk assessment on the system or website and to hire a top notch security manager and team of developers.

2. What are some important factors when weighing the depth of a formal risk analysis? How would you balance the interruption needed for depth and the need to continue ongoing organizational activity?

While there are many factors that come into play when weighing

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