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McBride Financial Services Essay Example

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McBride Financial Services

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With the technological revolution, more emphasis is now paid towards speed and powerful technology. Even McBride Financial Services has identified the providence of ‘efficient’ services as a key feature to their operations. The increased need for speed has transformed the business domain but at the same time introducing risks to data and information. Information risks is perhaps the most common security risks associated with virtual operations. The term refers to the unauthorized access of confidential or non-public information stored on computers by forbidden parties (Wurzler, 2013). In the case of McBride Financial Services, its computers could be holding thousands of terabytes of confidential customer information that may be exploited by unauthorized parties so as to cause monetary harm to its customers, not to mention the image of the company too. A breach to confidential data can lead to an enormous financial loss as well as embarrassment to the business. Thus, information risks are a major problem for businesses that involve big data, particularly those that depend on the World Wide Web for storage and access.Information Technology (IT) experts are always involved in indentifying and assessing security risks that may threaten the working of computational infrastructures. As such, they evaluate the degree of harm that any particular threat can cause to the system. Wurzler (2013) points out that threat can be caused from internal as well as external sources, also quoting the huge costs of Intellectual Property (IP) thefts and cyber crimes to IT giants like Symantec. Insider thefts are usually committed by a company’s own employees by manipulating the Internet Protocol (IP) addresses. Since McBride would be holding a great amount of customer data that is filled out through its online forms, its employees remain potential candidates for breaching the security of the customer information. Check and balance along with internal audit helps to reduce the number and occurrence of insider thefts. So, McBride could also work to reduce internal information thefts by placing the required checks.External threats have historically caused a lot of harm to several companies. The cost of repairing the system after an unauthorized attack is also high. But more importantly, business that have been a victim of external attack also

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