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Security Vulnerability Report

The Security Vulnerability Report discusses the risks financial institutions face regarding security vulnerabilities, particularly focusing on weak password policies, server configurations, and lack of incident response plans. It emphasizes the importance of strong authentication measures, uniform server configurations, and effective monitoring systems to mitigate these risks. The report concludes that regular system maintenance and restricted access can enhance security within these organizations.

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45 views5 pages

Security Vulnerability Report

The Security Vulnerability Report discusses the risks financial institutions face regarding security vulnerabilities, particularly focusing on weak password policies, server configurations, and lack of incident response plans. It emphasizes the importance of strong authentication measures, uniform server configurations, and effective monitoring systems to mitigate these risks. The report concludes that regular system maintenance and restricted access can enhance security within these organizations.

Uploaded by

nursefred_wanyoike
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Running Head: SECURITY VULNERABILITY REPOTORT 1

Security Vulnerability Report

Institution Affiliation

Name
SECURITY VULNERABILITY REPORT 2

Introduction

Vulnerability is a state where something is exposed to various things such as attack or

being accessed by those that are not authorized. Security vulnerability can occur in multiple

organizations due to numerous issues. In banks and various other financial organizations, there is

a high risk of vulnerability as people with bad intentions such as theft. The security in these

organizations should be made tight to ensure that there is no intrusion by unauthorized people.

Some areas should the financial organizations should highly be concerned with while coming up

with ways of preventing vulnerability. Various measures can be made to ensure that a financial

organization is in a position to monitor all the parts that they think may be vulnerable. The

information in this paper is on various areas that are vulnerable in financial institutions and also

how the organizations can ensure that the fields are well secured.

One of the main vulnerable areas that need security in a financial institution is the use of

single factor authentication with the use of weak passwords. With this, these organizations are

prone to high risks of being invaded by people that are unauthorized (Benjamin et al., 2015). If

passwords are not strong, there are people that are capable of viewing data from the financial

organization. It is harmful if unauthorized persons access the information since they are capable

of destroying the information making it hard for the firm to recover the right information. To

avoid this, the organization should look for an authentication with passwords that are strong.

(Benjamin et al., 2015). Even if the strong passwords can be hacked, it will take long before

being hacked and the persons in charged may have known there is someone who is trying to

formulate the passwords. The passwords should also be changed regularly to make sure that they

give a hard time to people who may be trying to hack them.


SECURITY VULNERABILITY REPORT 3

Also, different configuration on the servers and the operating system that are in the

organization. The organization may get at risk since they may change the servers that can cause

self denial services (Kopp et al., 2017). The configuration of servers should be the same since

they help in getting the same information in all servers and operating systems from any source

that the information is sent from any source. The importance of having several servers in a

financial organization is to make sure that even if the server fails, the information can still be

found in the other servers (Kopp et al., 2017). This is why the servers should have the same

configuration for them to receive the same information. With that, it is easy to get the

information even if there is a server that fails.

Lack of ways of responding to various incidents of security is also an issue that financial

organizations should be concerned with (Abomhara, 2017). This is due to lack of an incident

response plan which helps in detecting unusual things that may be happening to the server. Such

things include various trials that may be made by different individuals to access the server. It is a

weakness that an organization may experience since the attacker may have an ample time to

carry out the work that he needs without getting noticed (Abomhara, 2017). A good tracking

system should be modified to ensure that any attempt of attack is detected for them to look for a

solution to the problem.

In conclusion, financial organizations such as banks are usually at high risk of

experiencing security vulnerability issues. However, all they should do is ensure that they are

aware of various areas that make them be at high risk. They should ensure that the systems in the

organization are repaired regularly and that there are people who assigned to monitor the

systems. With this, it is easy to know when there are attempts of the systems being hacked for

them to increase the security of those systems. Also, these firms should be in a position to only
SECURITY VULNERABILITY REPORT 4

allow few individuals to access those systems to make sure that there are people that are liable if

there is any case where the organization is manipulated internally. This is possible by ensuring

that the passwords of the servers are with few individuals.


SECURITY VULNERABILITY REPORT 5

References

Abomhara, M. (2015). Cyber security and the internet of things: vulnerabilities, threats, intruders

and attacks. Journal of Cyber Security and Mobility, 4(1), 65-88.

Benjamin, V., Li, W., Holt, T., & Chen, H. (2015, May). Exploring threats and vulnerabilities in

hacker web: Forums, IRC and carding shops. In 2015 IEEE International Conference on

Intelligence and Security Informatics (ISI) (pp. 85-90). IEEE.

Kopp, E., Kaffenberger, L., & Jenkinson, N. (2017). Cyber risk, market failures, and financial

stability. International Monetary Fund.

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