VL Bank Case Study
\nYou are the chief information security officer (CISO) for the VL Bank based in Atlanta,
\nGeorgia. Recently, a highly sophisticated and cleverly orchestrated crime was brought to
\nyour attention by the information security analysts in your department and by a growing
\nnumber of business customers.
\nYour company\u2019s commercial customers utilize a digital certificate multifactor authentication
\nprocess to access wire transfers, cash management, deposit operations, and account
\nmanagement applications common to all business customers. The problem is that several
\ncustomers have reported that new user accounts have been set up under their names
\nwithout their authorization and these accounts are initiating several fund transfers for
\n$10,000. The wire transfers are being sent to various other bank accounts across the United
\nStates. As of today, the amount of fraudulent transfers has been over $290,000.
\nThe bank\u2019s affected customers are calling to get answers and reclaim lost funds. Your
\nsupervisor is demanding answers from you as well. The bank\u2019s general counsel is preparing
\nfor litigation threats from the affected customers. This could be a business nightmare,
\nespecially if you fail to resolve the situation quickly.
\nAfter further analysis, you learn some additional information about the case:
\n1. The $10,000 individual transfers are going to several U.S. bank accounts of
\nindividuals before being automatically transferred to several international bank
\naccounts located in Romania, Thailand, Moldavia, and China.
\n2. The bank\u2019s affected customers all used computers infected with a keystroke logger
\nvirus that collected usernames, passwords, account numbers, personal identification
\nnumbers, URL addresses, and digital certificates. These computers did not have antivirus
\nor security software installed.
\n3. The bank\u2019s customers are frequently experiencing what is known as spear phishing
\nattacks against them, which are fake e-mails that resemble normal business e-mail
\nmessages to customers, but contain the keystroke logging virus.
\n4. The bank\u2019s systems have not been breached and no customer data has been stolen
\nexcept for the few business customers whose personal business computers were
\ncompromised.
\n5. The U.S. banks that received fraudulent funds transfers are located in four other U.S.
\nstates in addition to VL Bank in Georgia. They are Bank A in California, Bank B in
\nNew York, Bank C in Texas, and Bank D in Florida.
\n6. VL Bank\u2019s account manager responsible for these affected customers has access to
\ncopies of the digital certificates used by the customers as well as account access.<\/p>\n
Above is the case study you go by<\/p>\n
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\nDevelop a report (suggested length of 3\u20135 pages) for VL Bank senior management regarding the cybercrime from the attached “VL Bank Case Study” in which you do the following:
\nDiscuss how two laws or regulations apply to the case study.
\nDiscuss how VL Bank will work within the parameters of appropriate legal jurisdiction with specific bodies of law enforcement to resolve the situation.
\nDiscuss legal considerations for preparing the digital evidence VL Bank will need to provide law enforcement and attorneys.
\nExplain what coordination should take place between the CISO and VL Bank’s lawyer.
\nDiscuss how this cybercrime could affect VL Bank’s enterprise continuity.
\nExplain how VL Bank could use technology to prevent the cybercrime in the case scenario.
\nDiscuss information security and assurance controls that could mitigate future attacks of this kind at VL Bank.
\nExplain how these controls align to regulatory requirements and standards.<\/p>\n
When you use sources, include all in-text citations and references in APA format.<\/p>\n","protected":false},"excerpt":{"rendered":"
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