Question

Put yourself in this scenario. You have just started working at a regional branch of Iontaofa Bank. Iontaofa Bank’s has its headquarters in Ireland and has recently expanded into the southwest USA by acquiring several existing independent banks. Your branch is located on the USMexican border and has a mix of US and Mexican customers. The day you start work, the bank discovers a massive data breach that potentially exposes all of your clients’ financial information. The breach poses an extra problem for your bank because its competitive advantage rests on customer trust. To make the situation more difficult, the breach apparently occurred one month ago, and the FBI has asked the bank to wait two weeks to tell your customers while they can try to track down the culprits before they find out their theft has been discovered. Everyone has been called in to help develop plans for dealing with the situation. The bank president wants to use your knowledge of multiple business areas since you have an overview of the different bank areas instead of any one specific perspective.

What ethical obligations the bank has to its customers because of this breach, and how might the multi-cultural makeup of your bank and customer base influence your ethical obligations.

Answer 1

If the breach is rendered by tokens, the warning from the corrupted account management program is identified as being at danger. A message is sent to the bank and the process can take weeks. The Bank has a legal obligation to protect consumers ' data and resources from future threats. All data must be secured anywhere. Registered links and data transfers should be restricted. To stop any misunderstanding, all staff should be informed of this. To order to stop external threats and have a clear authentication policies, both computer and mobile device needs good software to prevent automated logins. A strong PIN for accessing the accounts should be needed.

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