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Vl Bank Case Study

2059 words - 9 pages

Cyber crime is a phrase that covers a wide range of criminal activity making use of a computer system. Some typical cases of cyber crime include financial fraud, identity theft, and cyber bullying and website defacements. At a banking level, cyber crime may entail the hacking of client databases and stealing of intellectual property.
In this case study report to be presented to the senior management, we examine a cyber crime activity, which has just happened at VL Bank. As the Chief Information Security Officer(CISO) my urgent responsibility is to formulate a task force involving the bank`s lawyers & other IT staff ,government security agencies, private experts ...view middle of the document...

It’s clear this act of Cyber Crime within VL Banks will be guided by Patriot Act based on the below assumptions.
The mastermind may have compromised the bank’s core banking system, accessed client accounts, and transferred money within the country or even overseas.
It is also possible they may have mined customer data or altered the bank`s IT infrastructure to suit their schemes.
The other piece of legislation important in addressing this matter is Data Security Acts(2015) which authorizes financial institutions to alert consumers (within 30 days)who lose data to cyber criminals that their debit or credit s have been tampered with to enable regulators come up with other rules. This legislation will protect the vulnerable financial data of consumers by creating a national standard for information protection, security and consumer notification. This act will play a role in restoring customer confidence and loyalty with VL Bank.
1.b Discuss legal considerations for preparing the digital evidence VL Bank will need to provide law enforcement and attorneys.

Relevance represents if a portion of evidence will have any immediate pertaining to this case in terms of adding to the potential to demonstrate or disapprove facts of this case. As outlined by Judge Grimm, relevance needs to be the very first thing to be recognized for any prospective piece of evidence, such as an electronic document .Given that this threshold has to be met for determining the relevance of any type of evidence, irrespective of format or origin, it is not at all hard to determine how this rule pertains to electronic evidence.
Authenticity simply denotes that a file or document is really, what it is depicted to be. In fact, this factor of recognizing a document/file as evidence is tightly connected to relevance especially –if it isn't what it is supposed to be, therefore it isn't relevant to this case. Under the Privacy Act, VL Bank, investigation must preserve the integrity of the data obtained. The date must be preserved as genuine evidence and the source kept in a similar authentic condition it was received

There is the likelihood of the items/equipments being investigated to have proprietary or privileged information. This kind of information may drag the VL bank into legal tussles with clients/businesses affected in the crime in question. To avert such a scenario, Economic Espionage Act (1996) promotes the access and sharing of trade secrets. This kind of information includes business engineering and financial secrets. In this case, there is the likelihood of such info being breached during investigations .It is from here that the investigative task force needs to have proper documentation of the command of custody
Documenting and reporting.
Actions and findings must be documented during the forensic handling of evidence. This will likely finish with the publishing of a written document of the...

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