In today's digital era, online banking has become an integral part of the banking sector, offering convivence and accessibility to customers worldwide. However, with the increasing reliance on Internet based services, en

CS Professional · Artificial Intelligence, Data Analytics and Cyber Security - Laws and Practice · PYQS · June 2024
In today's digital era, online banking has become an integral part of the banking sector, offering convivence and accessibility to customers worldwide. However, with the increasing reliance on Internet based services, ensuring the security of online banking platforms has become a paramount concern for banks and financial institutions. The online banking platform utilizes internet and related technologies to facilitate seamless transactions and user transactions. This includes the use of secure protocols to encrypt data transmission between user and banking servers. This infrastructure and protocols are employed to guarantee high availability and reliability of banking services, minimize downtime and service disruptions. Software security is also a critical aspect of the online banking platform, encompassing various measures to protect against security threats and vulnerabilities. Secure coding practices are followed during the development phase to minimize the risk of common security flaws such as SQL injection, cross-site scripting (XSS), and buffer overflows. Regular code reviews, vulnerability assessments, and penetration testing are conducted to identify and address security issues proactively. Additionally, the platform incorporates mechanisms for user authentication, session management, and access control to prevent unauthorized access to sensitive resources and functionalities. To increase the security in customer's data some platform can use that asymmetric encryption algorithms such as RSA to establish secure communication channels. Digital certificate issued by Certifying Authorities (CA) are used to verify the authenticity of the banking servers and protect against the man in middle attack. The IT Security team of XYZ Bank discovers suspicious activity on its computer network, indicating a potential data breach. Bank's IT security team initiates a forensic investigation to identify the source of the breach, recover lost data, and ensure compliance with relevant regulations and ethical standards. The key issues are related with Data Recovery Procedures and data protection in which implementing ethical data recovery procedures to retrieve lost or compromised data, while preserving the integrity of digital evidence. Ensuring proper precautions are taken during the gathering of digital evidence to maintain its admissibility in legal proceedings and prevent contamination or tampering. Now Bank Employing computer forensics software tools and forensic toolkits to recover deleted or hidden files, analyze system artifacts and cross-validate findings in computer evidence-related cases. In this regard, the forensic team at XYZ Bank follows established protocols for data recovery and evidence handling, ensuring compliance with legal and ethical standards throughout the investigation. By conducting a thorough time-line analysis of computer files. the team enabling prompt remediation and risk mitigation measures. Advanced forensic tools and software are utilized to recover deleted files, analyze system artifacts, and corroborate findings, strengthening the integrity of digital evidence presented in legal proceedings. The investigation also highlights the importance of data protection and privacy regulations in safeguarding sensitive information and maintaining customer trust and compliance with regulatory requirements. In the above case scenario, answer the following questions: Software Security refers to the practice of developing and engineering the software in a manner which keeps it secure from external malicious attacks, while also ensuring that in case of any such attack, the software does not malfunction and continues to operate. As an IT engineer in Bank, explain any 5 software security goals to be achieved.

Answer & Explanation:

Software security seeks to achieve the following goals: Prevention of malicious attacks: The main goal of software security is to prevent attacks in this age of Internet, where data breach spreads like wildfire. Timely threat detection: It aims to detect and prevent possible breach of security in time. Effective Monitoring: Real time monitoring is an effective tool to avoid attacks before they happen and prevent damage. Privacy and Confidentiality: Developers must address this issue effectively as software run on machine which has the ability to track or access information stored on the software. Therefore, a machine may be able to access information which the software may attempt to hide. Anonymity: This is an important concern which requires the developers to consider what may happen to any data which is collected by a program and whether the same has been adequately protected. Authentication: Most software require user to log into the system through Login ID and Password. It is essential for security as it is relevant to understand who can be trusted and who cannot be trusted. Integrity: Software should enable maintenance of integrity of data, i.e. the ability to remain the same, to ensure that data is not manipulated during transmission from sender to receiver.

Topics: Software Security

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