t2 Task 4
In: Computers and Technology
Tft2 Task 4
TFT2 Task 4
As the chief information security officer for VL Bank, we were notified by several of our commercial customers of unauthorized wire transfers in an amount greater than $290,000. This is very concerning since we take pride in our information security.
As soon as we were notified of the fraudulent transactions my security team, along with the network engineers, performed a thorough investigation of how such attack had occurred. Once we were able to view all logs and audit data it came to our attention that the data did not appear to be stolen from our network. All transactions performed were done so with the appropriate ...view middle of the document...
If reported between 3 and 59 days the amount increases to $500. If the fraud is reported greater than 60 days after the crime was committed than the customer could be responsible for the entire amount. In this case since the fraudulent transactions were reported immediately the customer will only be responsible for $50.
The phishing email itself is also violating a law. This would fall under Title 18 Crimes and Criminal procedure, part 1, chapter 4, § 1028: "Fraud and related activity in connection with identification documents, authentication features, and information”. While there has been attempts in the past to introduce and pass laws that specifically apply to phishing attempts none of these laws have made it on the books.
Identity Theft and Assumption Deterrence Act is a federal law established in 1998 that protects people from identity theft. Prior to this date there were not any specific laws to address this issue. The definition on the Federal Trade Commission’s website reads. “knowingly transfers or uses, without lawful authority, a means of identification of another person with the intent to commit, or to aid or abet, any unlawful activity that constitutes a violation of Federal law, or that constitutes a felony under any applicable State or local law;”
Since this crime extends outside of the state of Georgia and furthermore outside of the country, it is considered a federal crime and we will be working with the FBI to resolve the information.
In the past, collecting digital evidence law enforcement was naïve, they would grab and go. This was later deemed not to be the best technique for collecting data. When dealing with digital evidence it is important not to change it while it is being collected. Evidence should only be collected by a trained individual to ensure that the data is not damaged or changed in any way. All collection procedures should be documented, preserved, and available for review. This digital and Security evidence will be collated by me, the chief information security officer and it will concentrate on the following information that the FBI has requested:
- Customer, names, account numbers, and information regarding the computer they use to access the VL Bank website. This would include but not limited to IP address, operating system version, and Anti-Virus software, and Security software, type of computer personal or pubic.
- List of all of the fraudulent transactions including details about the banks that they were sent to, the specific dollar amount of the transaction, IP address of the computer used to make the transfer, and finally dates and times on these transactions.
All of this evidence will be collected, documented, and preserved and submitted by me to the VL Bank’s lawyers; they will catalog all of the evidence and forward it to the FBI. We will fully cooperate with the federal authorities and continue to work with them even after this evidence is turned over.
As the investigation...