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The importance of information security policies

Understand the importance of information security policies and the role they play in business activities to ensure sound, secure information.
Identify four IT security controls for a given scenario.

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.

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Sample Answer

Here are four IT security controls that XYZ Credit Union/Bank could implement, along with the rationale for each, based on the provided scenario:

Content Filtering: Implementing content filtering for all internet access points is crucial given the bank’s reliance on online banking and the internet. This control directly addresses the organization’s desire to monitor and control internet use. Content filtering can block access to inappropriate or malicious websites, reducing the risk of malware infections, phishing attacks, and data breaches. It also helps to enforce the policy against personal use of company IT assets by restricting access to non-business-related content.

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aids in compliance with GLBA by protecting customer information from unauthorized access or disclosure. By limiting browsing to only necessary sites for work, the bank can help protect itself.
Email Security Controls: Given the bank’s desire to monitor and control email system usage, implementing robust email security controls is essential. This could include spam filtering, anti-malware scanning of attachments, and data loss prevention (DLP) measures. Spam filtering reduces the volume of unwanted emails, improving employee productivity and reducing the risk of phishing attacks. Anti-malware scanning protects against email-borne viruses and other malicious software. DLP helps prevent sensitive data, such as customer financial information, from being inadvertently or intentionally leaked via email. These controls directly address the bank’s need for email monitoring and contribute to GLBA compliance by safeguarding customer data.
Acceptable Use Policy (AUP) with Annual Security Awareness Training: A comprehensive AUP, clearly outlining acceptable and unacceptable use of company IT assets, is fundamental. This policy should explicitly prohibit personal use of organization-owned IT assets and systems, as per the scenario’s requirements. The AUP should cover all aspects of IT usage, including internet access, email, software installation, and data handling. Crucially, the policy’s review should be incorporated into an annual security awareness training program. This training ensures that all employees are aware of the policy, understand its implications, and are educated about best practices for secure IT usage. This is a critical step in complying with regulations and best practices.
Multi-Factor Authentication (MFA): Given the sensitivity of financial data and the bank’s reliance on online systems, MFA is a vital security control. MFA requires users to provide multiple forms of verification (e.g., password, security token, biometric scan) before accessing sensitive systems or data. This significantly reduces the risk of unauthorized access, even if a password is compromised. MFA is particularly important for protecting online banking platforms and internal systems containing customer financial information. It is a strong control for GLBA compliance and aligns with IT security best practices by adding a critical layer of security to the bank’s most critical business function, customer service, and its related data.

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