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Use Security Policies And Controls To Overcome Business Challenges

Scenario

The organization is a regional XYZ Credit Union/Bank that has multiple branches and locations throughout the region.

Online banking and use of the Internet are the bank’s strengths, given its limited human resources.

The customer service department is the organization’s most critical business function.

The organization wants to be in compliance with the Gramm-Leach-Bliley Act (GLBA) and IT security best practices regarding its employees.

The organization wants to monitor and control use of the Internet by implementing content filtering.

The organization wants to eliminate personal use of organization-owned IT assets and systems.

The organization wants to monitor and control use of the email system by implementing email security controls.

The organization wants to implement this policy for all the IT assets it owns and to incorporate this policy review into an annual security awareness training program.

Using the scenario, identify four possible IT security controls for the bank and provide rationale for your choices.

Sample Answer

Four IT Security Controls for XYZ Credit Union/Bank:

Multi-Factor Authentication (MFA):

Rationale: This strengthens online banking and account access by requiring more than just a password. Even if a password is compromised, the additional layer of authentication (e.g., fingerprint, code) prevents unauthorized access. This aligns with GLBA’s requirement for safeguarding customer information.

Data Loss Prevention (DLP):

Rationale: DLP software monitors and restricts transmission of sensitive data (e.g., Social Security numbers, financial information) via email, instant messaging, and file sharing. This prevents accidental or malicious data leaks, protecting customer privacy and complying with GLBA regulations.

Full Answer Section

Web Content Filtering and Acceptable Use Policy (AUP):

Rationale: Implementing content filtering tools alongside a clear AUP ensures employees only access internet content relevant to their work. This minimizes security risks from malware, phishing scams, and unauthorized downloads while promoting productivity.

Email Security Suite:

Rationale: An email security suite with features like spam filtering, malware detection, and encryption safeguards internal systems from phishing attacks, ransomware, and spam. This enhances email security, protects customer data, and complies with GLBA’s security requirements.

Additional Considerations:

Security Awareness Training: Regularly incorporate this policy and best practices into employee training to foster a culture of cybersecurity awareness and responsible IT usage.
Monitoring and Auditing: Continuously monitor and audit logs and access attempts to identify suspicious activity and ensure policy compliance.
Incident Response Plan: Develop a clear plan for responding to security incidents to minimize damage and protect customer data.

By implementing these IT security controls, XYZ Credit Union/Bank can address its concerns about employee internet and email usage, ensure compliance with GLBA regulations, and safeguard customer data while maintaining its focus on online banking and efficient customer service.

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Use Security Policies And Controls To Overcome Business Challenges

Sample Answer

Four IT Security Controls for XYZ Credit Union/Bank:

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