Explain how an organization can manage risk when using IT technology. To achieve this expand on the following headings, using the on-line resources provided.
• Cyber crime
• Diverting financial assets
• Sabotage of communications
• Intellectual property theft
• Denial of service attacks
...
P4 – Explain how an organisation can manage risk when using IT technology
When there’s a problem, there’s a plan. There are so many risks in today’s technology that people are
specialised hired to ensure that a company or organisation are safe from these risks. Here are the ways
how.
Cyber Crime
The increase in developments in IT and the large use of the Internet reflects on how much cyber-crime
occurs. There have been many cases of fraud where consumers’ credit card details are stolen, despite the
chip and pin idea that was supposed to prevent this from happening. Hackers also have the ability to ‘break
into’ bank accounts and steal money by moving it to other bank accounts.
Crime can also occur in e-commerce too, in undesirable and illegal sites specifically found in the deep web.
It is a hard area for the law agencies to access and continues to be a problem today. Cyber security
administrators continue to combat these issues by ‘counter hacking’ to find culprits responsible for
damages, they could be external such as the Metropolitan Police Cyber Crime Unit who deals with general
cyber-crime in Greater London, then there are organisational security admins who ensure all devices are
kept safe within a company.
Diverting financial assets
Diverting financial assets is where an individual with malicious intentions gains access to a network within
which a computer where transactions occur on a regular basis, allowing for data to be stolen or for money
to be directed to different place, by using unencrypted data streams to edit the variables contained in any
instructional strings from the computer – this means that money can be transferred to different accounts.
Diverting financial assets can only be a huge risk if a business has very weak security on their local network
or router. This could mean using a free public Wi-Fi station or an easy password rather than a default WEP
password, a variation of letters and numbers jumbled up together and only you know the combination.
All of this, however, can be prevented by using secured payment systems like PayPal and Google Wallet.
These payments are run by other companies who have strong security and prevention methods, therefore
making it the best choice to prevent losing anything.
Sabotage of communications
Communication sabotage affects the use of telecommunications and email, meaning that either the
devices related would stop working or data would be transferred to another location that is not intended.
News of the World was involved in a phone hacking scandal where they leaked celebrity phone calls.
Instead of the information data being transmitted from one phone to another, it ended up with the news
company, meaning those celebrities had their privacy breached and phones sabotaged.
This form of sabotage can affect a business in many ways, for example if bank account details were sent
through e-mail, these could be exposed to hackers, and therefore the bank account could be accessed by
those outside a business. This is the same for telephone conversations; details can be obtained just by
listening to what are supposed to be confidential talks. With browser, you should ensure that the transfer
protocol is secured (https) and with e-mails there should be a secured socket layer.
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