Security Threats to Banking

Security Threats to Banking INTRODUCTION The research project was undertaken to discover security threats and vulnerabilities experienced in First National Bank Botswana organization and how they mitigate them, this was carried out with the intention of making better and appropriate recommendations to combat them in the future and strengthen their information system and innovate some of their services for better competitive advantage and customer satisfaction. FIRST NATIONAL BANK BOTSWANA BACKGROUND First National Bank Botswana was registered in 1991, as a wholly owned subsidiary of First National Bank Holdings (Botswana). Various acquisitions led to the bank becoming a listed entity on the Botswana Stock Exchange in 1993. Today, they have shifted from being a bank with a predominantly retail focus to one that also successfully services the commercial and corporate market. Today products and services of First National Bank Botswana cover the requirements of everyone, from large corporate companies to small businesses and the individual. As at January 2008, we operate with a network of 17 branches and a total of 89 ATMs around the country. A strong customer focused culture ensures that our products are correctly packaged and accessible to all. https://www.fnbbotswana.co.bw/aboutus/index.html accessed on the 30 March 2010. MISSION To be recognised by all as the most well respected and most profitable leading financial services institution of first choice, building enduring and rewarding relationships with all our customers and amongst all stakeholders through the provision of exceptional customer service well skilled professionalism, reliable and efficient innovative products and solutions by our high achieving, motivated, proud and committed team, enabling us to get and keep customers. VISION We collaborate, support and empower each other through the consistent application of our aligned strategies and shared values, delivering maximum value to our customers and sharing the customer so as to add further value to them. Through this, we get and keep customers. CURRENT MARKET SITUATION ANALYSIS Currently the world was going through recession each and every organization across the globe felt the impact of the economic meltdown. Despite global recession and tough competition from competitors like Barclays bank, Standard chartered, Stabic bank and Bank Gaborone etc, First National Bank Botswana proved to be the most innovative bank in Botswana and it made profit unlike Barclays bank sales which had gone down, this shows that FNBB had increase in sales and market share. According to Imara report, September 2009, FNBB had a growth in turnover; the bank posted a strong set of results despite operating in a challenging business environment. Net interest income grew by 30.6% to P522.90 million (FY08: P400.25 million) mainly driven by a 17.0% increase in loans and advances. Profit before tax and profit after tax increased by 19.5% to P536.90 million and 8.7% to P406.72 million respectively. SIGNIFICANT MARKET SHARE According to Analyst Setlhabi P, 2009 FNBB is one of the leading banks in Botswana with the largest market share in terms of deposits (29.7%) and 2nd largest in terms of loans and advances (27.3%) after Barclays Bank Botswana. The pie chart above shows that FNBB has more market share in Botswana compared to other banks in Botswana. In terms of technology advancement and Information system FNBB is the most innovative bank, it was the first bank to provide internet and cell phone banking in Botswana to customers and it is currently the only listed bank providing cell phone banking services. In a bid to reach the unbanked market, First National Bank of Botswana has launched its new cell phone banking service, enabling banking activities such as balance enquiries, statement requests and the ability to make payments to third parties. Due to advancement in technology and Information system its market share has grown tremendously. FNBB SWOT ANALYSIS Below is a table showing the swot analysis of the First National Bank Botswana, from the table it shows that the bank has more strength, good opportunities than weakness and threats which is really good. PREVIOUS SYSTEM The previous system was manual based before introducing this advanced system, though they had computers nothing was automated customers had to go to the physical bank to deposit money, pay the bills and some of the important information was recorded on papers which can get lost or stolen easily. The system was costly to the bank because they had to use a lot of materials e.g. papers to record information and print the bank statement for customers and you would find that there will be long queues at the bank during the week. Customers could not dream buying items online, they manual system was time consuming and somehow hindered the growth of the FNBB market share. Customers who wanted to open accounts with the bank had to fill the application form, submit and wait for seven working days for their application to be processed and account to be opened. There was nothing like transferring the fund to third party account or interbank transfer the customer had to do it manual at the bank teller or cashier counter. CURRENT SYSTEM (S) The bank has several current information systems in place which has enhanced its performance and productivity resulting in customer satisfaction and convenience hence customer loyalty to FNBB. According to Mr. Edwin M FNBB have the following information systems in use. Online Banking Customers can access the bank account anywhere, anytime as long they have internet access where there are, and they can do any transaction; paying bills, buy online, view balance, bank statement and transfer funds to third party. Cell Phone Banking Now with cell phone banking in place customer do not need to be behind a computer doing transaction, they can access their funds/ bank account by using their mobile phones which is more convenient, fast and user friendly. Its new cell phone banking service, enabling banking activities such as balance enquiries, statement requests and the ability to make payments to third parties. The service is accessible through any handset in Botswana and uses SMS or a menu-based technology for customers to complete their banking transactions, increasing mass market reach and adding functionality to First National Bank of Botswanas (FNBB) offerings. The new FNB Cell phone banking offering is a natural extension from the pioneering beginnings of the in Contact service, said Yolisa Lejowa, FNBB head of electronic banking. Initially the service will only be available on the Mascom network but we envisage activating FNB Cell phone banking on the Orange network as well, shortly. By introducing these systems the bank has saved a lot of money which would be used for stationery in the manual system and the bank saw a great positive impact on their daily activities, long queues is the thing of the past, productivity, efficiency and market share has increased. New customers can even apply for bank accounts online without going to the bank as long as they provide valid details; everything will be processed within a short period of time. Now customers have the bank virtual bank with them wherever they go. Some of the Information systems are; Transaction Processing system Human resource Management system Executive management system INFORMATION RESOURCE AND CONTROL According www.datamonitor.com head of electronic banking (chief information officer) at FNBB has a critical role and responsible for the entire security of the organization, plan and implement technology advancement and innovations to ensure that FNBB stays atop of the market in the banking industry in Botswana. The Electronic bank head critical evaluate the security systems ability to protect bank and customer data. According to Eddie M in interviews response stated that chief information officer overlook the entire organization information system, to ensure that all resources are utilized within the budget and enforce higher security in the system to ensure business continuity. This is achieved by defining, updating, implementing IT strategy and align IT objectives and programs to enterprise objectives and strategies. By applying the above critical roles result in data privacy and confidentially, data integrity, authentication, non-repudiation. The head of electronic banking of FNBB set security privileges in the organization to ensure that certain areas and information is only accessed by authorized personnel or user. He carries out and enforces comprehensive security policy in the organization. According to www.fdic.gov/news/news/financial/1999/FIL9968b.doc A comprehensive information security policy should outline a proactive and ongoing program incorporating three components; Prevention Detection Response E-banking services must be delivered on a consistent and timely basis in accordance with high customer expectations for a constant and rapid availability and potential high transaction demand. The bank must be able to deliver online banking services to all end-users and be able to maintain such availability in all circumstances. ORGANISATION SECURITY SYSTEM RISK System risk is a potential problem, situation that if it materializes, may adversely affect the business operation or system operation. http://www.pathways.cu.edu.eg/ . According to Eddie M 26 March 2010 Interviews. The use of information system which is online banking and cell phone banking has brought some risks and threats which are as follows; information theft, hacking of the system, System Failure due to hardware problem or power failure even software crushing, backup gets corrupted sometimes. The above table summarizes the system risks that exist with the use of information system; some of the risks are intentional were the user or unauthorized person get to do some modification in the system database/ some system components which will compromise availability or integrity of the data produced, processed. Some of the threats are accidental where by the user discloses his/her online banking details leading to account hacking and money theft. Network malfunction/ interruption is one of the major threats, sometimes network hardware components fails leading to break of data transfer between computers and servers leading to online system been unable to function normal (down). Electricity blackout its a major concern in Botswana because it happens more often resulting in online banking and cell phone banking being inaccessible during the period, as cell phone network goes down during electricity blackout and some electronics components tends to fails as well leading to system failure as information systems are comprised of different electronics components. All the above mentioned system risks and threats are the main faced by First National Bank Botswana. SYSTEM RISK MITIGATION To mitigate risks and threats board of directors and the head of electronic banking must ensure that appropriate security control processes are in place for online banking. (FNBB Report, 2009). To deal with this risks authorization privileges and authentication measures, logical and physical access control, adequate infrastructure security to maintain appropriate boundaries and restriction on both external user activities and data integrity of transactions, record and information should be implemented in the bank. http://www.bis.org/publ/bcbs98.htm. SECURITY CLOSED CIRCUIT TELEVISION (CCTV) CCTV is used to capture and monitor all customer and employee activities inside and outside the bank building for security reasons. Youll find CCTVcameras sweeping the perimeter and parking areas, lobbies, drive-up windows and ATMS. Almost everyone who has worked in the banking industry and many customers has used CCTV to prevent and/or identify illegal activity at banking facilities. Video tapes and digital recordings capture the faces and activities of everyone using bank properties. (Pirraglia W). The captured recordings are archived bydate, so prior recordings can be located and used to solve problems and help apprehend perpetrators of illegal bank activity. Most of the banks around the world have cctv installed in their buildings and around ATM terminals, so FNBB use CCTV for the same purpose as explained above, all of their building are monitored by CCTV.

John Paul Jones :: essays research papers

John Paul Jones The Bonhomme Richard vs. The HMS Serapis John Paul was born in the small fishing village of Arbigland, Scotland on July 6, 1747. To his parents John Paul and Jean MacDuff he was the fourth child. They had seven children but unfortunately all but two died in infancy. The family was originally from Fife but John Paul's father had taken the family and moved to Arbigland where William Craik, the owner of a large estate their had met him and hired him to be his gardener. John Paul grew up on this estate and to those who watched him grow up, it seemed that he always had a fascination and a passion to sail something. Whether it was a leaf as a child or a bit of wood blown by a small paper sail, John Paul was a seaman from birth. He attended Kirkbean School but spent much of his time at the small port of Carsethorn on the Solway Firth. As he grew up others often found him teaching his playmates to maneuver their little boats to mimic a naval battle, while he, taking his stand on the tiny cliff overlooking the small river, shouted shrill commands at his imaginary fleet. At the age of thirteen he boarded a ship to Whitehaven, which was a large port across the Solway Firth. There he signed up for a seven year seaman's apprenticeship on The Friendship of Whitehaven, whose captain was James Younger, a prosperous merchant and ship owner. His first voyage took him across the Atlantic Ocean to Barbados and Fredericksburg, Virginia at which he stayed with his older brother William, a tailor, who had left Scotland for America over thirteen years before, and who now was living comfortably and flourishing. John Paul was released from his apprenticeship at age 17 after which he went straight into the slave trade as third mate on King George of Whitehaven. After some time he became disgusted with the slave trade and returned home. John Paul had become a captain at the age of twenty-one. When on one of his missions, John Paul was accused of assaulting and killing one of his sailors, and was then arrested but found not guilty by the Tobago courts because of lack of evidence and testimony on his behalf. Because of this he fled to America and changed his name to John Paul Jones of which he was called for the rest of his life.

The Churches Of Christ: A Comparative Essay :: essays research papers

The Churches of Christ: A Comparative Essay Over the past ten years there has been much controversy in the Christian and secular media about the International Churches of Christ (ICC), and the United (or mainline) Church of Christ (CoC). This controversy has stemmed from the ICC's misuse of funds, doctrinal problems, member abuse, and mind-control. The differences between the CoC and the ICC are important for Christians know and understand. The CoC began in 1957 when these four groups merged The Congregational Churches, The Christian Church, The Evangelical Synod of North America, and The Reformed Church in the United States. These churches had firm Protestant roots in England, Germany, Sweden, and the United States, totaling over 49 years in their own traditions and fellowship. On June 25, of 1957, the four churches held a synod meeting in Cleveland, Ohio, to commit more fully to unity, liberty, freedom in Christ, and the evangelism of the world. These groups, under the head of the Uniting General Synod, became the United Churches of Christ. Today the CoC has over two thousand registered churches in the world. By 1979, the roots of the CoC were firmly in place. It was then that Chuck Lucas, a pastor at the Gainesville Church of Christ (mainline), met a young college student, Kip McKean, and began discipling him. Kip was a bright student and showed great potential for leadership in the church. However, something in the discipling process went wrong. Kip was expelled from the Gainesville church later that year for reasons dealing with departure from the CoC doctrine, manipulative attitude, unclear motivation, and controlling of other's lives. Kip and his wife Elena moved to Boston and started a small church that grew rapidly from thirty to over three hundred disciples in two months. Kip (who, by this time, proclaimed himself as "God's man for God's mission") then declared in his Evangelism Proclamation speech in 1981 that disciples of his Boston church would be sent out to start sister churches in London, Chicago, New York, Toronto, Providence, Johannesburg, Paris, Stockholm, Mexico City, Hong Kong, Bombay, Cairo, and throughout the United States by the year of 1985. His success with this goal led him to present another Evangelism Proclamation in 1990 that said that every city in the world with a population of over 75,000 will have a sister church by the year 2000. Today the ICC is in over seventy two countries, with a recorded attendance (as of January 1997) of 920,000 people. It is important to note that the ICC's current "fall-away (members who leave the church) rate" is

The Accounting Equation

Accounting is founded on the basic equation that states a company’s Assets equal their total Liabilities plus their total Owner’s Equity . This equation is summarized as ALOE . This isthe basis of the Balance Sheet. Assets are the company’s furniture, fixtures and equipment, physical property, intellectual property and other resources. These properties include the physical land as well as the equipmentand building improvements on the property.A company’s liabilities are all of the obligations that the company has incurred. Thecompany has to service these liabilities by making payments on them. These payments may takethe form of cash income or may be sourced from loaned monies. If they borrow money, this is anadditional liability. Liability is â€Å"money owed; debts or pecuniary obligations† (Dictionary. com,2009). Liabilities offset assets in the equation that is the Balance Sheet.Owner’s Equity, also known as owner’s/shareholder†™s equity, is the final variable in theequation. When liabilities are subtracted from assets, the remaining balance is the owner’s equity. The term owner’s equity is used for privately owned companies. If the business is an incorporatedentity which issued common stock in exchange for a percentage of company ownership, then theowner’s equity is termed owner’s/shareholder’s equity.Cash, stocks and retained earnings are allowner’s/shareholder’s equity. E1-1 Urlacher Company provides the following accounting service tasks each year. Communication – Analysis and interpretation of financial data. Communication – Interpretation of meaning, uses and limits of financial data. Communication – Compiling a summary of financial events. Communication – Accounting report preparation. Recording – Maintaining a linear, chronological record of financial data.

BLENZ Coffee case study Essay

BLENZ Company Profile BLENZ Coffee is a Canadian concatenation of franchise java stores. BLENZ was founded in Vancouver in 1992. and has grown to over 82 franchises in six states. Soon the bulk of locations are located in British Columbia. with 35 international shops in the United Arab Emirates. Kuwait. the Philippines. China and Japan. BLENZ is chiefly a java store. but besides serves a assortment of hot and cold drinks. sweets. and assorted nutrient points such as wraps and sandwiches. BLENZ SWOT Analysis Strengths: Extensive drink bill of fareLarge nutrient and sweet choice compared to competitionFree Internet at 41 java house locationsTalented baristas ( coffee-maker. servers )Quality java bean and teasCanadian-ownershipAdvanced drink developmentLarge java housesAlternate to trade name leaderConsistency Failings: No clear trade name wayNo clear values or missionAssorted messaging. excessively many claimsContradictory aspirationsNo consistent communicating tone. linguistic communication. modeNo consistent communicating imagination. typography. designLess consistence across mercantile establishments compared to rivalsLess focused on experienceUnknown company history and backgroundFranchisee-operated Opportunities: Showcase largest bill of fare of most java housesIncrease consciousness of frequent advanced drinksEmphasize talented and award-winning baristasCanadian owned and operated ( started in Vancouver )Alternate to planetary java house ironss. something different Consistent experience of a concatenation. with the ambiance of a local coffeehouse A batch of action at java houses Menaces Competition from better-known java housesCoffee houses with better locationsCompeting java houses companies with higher quality merchandises Competing java houses companies with higher sensed quality Competing java house companies with higher sensed position Independent java houses Chain java housesCheap java housesInstantaneous java or complimentary java at work or concerns Cafes with larger bill of fare choiceStatus in in-between land between trade name leader and independent coffeehouse Peoples doing java and drinks at place There are many grounds for BLENZ Coffee’s success so far ; and this comes from their will to hold convenient locations for the Customer. Furthermore. their merchandises are of the highest quality and their service continues to convey people back. BLENZ’s HistoryBLENZ COFFEE opened its first shop in February 1992 on the corner of Robson and Bute Street in Vancouver. British Columbia. The first BLENZ shop was to be a proving land to guarantee that the construct and systems were strong plenty to turn and vie with other international ironss. The laminitiss of BLENZ COFFEE are Brian Noble. Sarah Moen and Geoffrey Hair. each conveying his ain personal strengths and combined conveying a wealth of concern experience to BLENZ COFFEE. The success of BLENZ COFFEE’S foremost shop and the founders’ committedness to instruction and criterions made franchising a natural pick. Today BLENZ now has 61 shops in British Columbia and besides operates internationally in Japan and the Philippines. BLENZ’s PhilosophyBLENZ COFFEE is a premium retail merchant of handmade javas. whole foliage teas. Belgian hot cocoa and other advanced and delightful forte drinks. From the start. the laminitiss of BLENZ COFFEE have ever had a passion for quality. This passion is reflected in our committedness to utilizing merely reliable. premium ingredients in their drinks. All BLENZ drinks are made in-store from merely the highest quality ingredients available. It is this committedness to functioning quality drinks. prepared with attention and attending by their extremely trained baristas. in a warm and modern-day environment that has fuelled BLENZ COFFEE’S growing from its origin. BLENZ’s MerchandisesBLENZ COFFEE are retail merchants of high quality whole bean javas. beautiful whole foliage organic teas and premium Belgian cocoa drinks to call but merely a few of their merchandise offerings. They are known as experts at reliable readying methods and handmade drinks. They are non merely purveyors of exciting and advanced drinks ; they besides offer a fabulous choice of adust goods. breakfast. tiffin and bites. among other delightful dainties to allure Customers. BLENZ: How to experience concerned by future They are cognizant of this fact which is that today’s universe could non be more unsure. Unemployment continues to lift ; the stock market continues to fall. BLENZ take control of the hereafter of unemployed valuable people. with their calling chances. BLENZ: How to experience concerned by Canadian’s life styleEven in the face of economic uncertainness. consumers still demand their favorite low-cost luxuries like premium java and tea. Canada’s java market is a $ 3 Billion Dollar industry. Coffee is still the most popular drink in Canada – and 2nd merely to H2O. of all drinks consumed among grownups 25 and older. And choice teas. are besides quickly deriving in popularity. BLENZ premium javas and teas are 2nd to none. They give people their opportunity to prehend the chance to bask their life style and net incomes with a successful BLENZ COFFEE franchise. BLENZ: How to unite Career Opportunities and Safety Fulfil your long held dream to have your ain concern. and truly be the Boss – without all the test and mistake that goes into a new concern venture. BLENZ helps you pull off the hazards and go a leader in your local concern community. BLENZ COFFEE stores are known as merriment. and fast paced societal environments. They’re besides a unafraid preparation land for kids to derive autonomy and pride as immature enterprisers. BLENZ: The will of being everywhereBLENZ has chances in both established and new markets they are doing available for the first clip. You can develop one shop. Or you may wish to be considered for an Area Development chance to open several shops in a Territory. Typical shops costs range from $ 225. 000 to $ 400. 000. depending on shop size. BLENZ: Festival & A ; Events spouse Vancouver FilmFestival Fringe Festival BLENZ & A ; Harbour Cruises BLENZ & A ; The Beat 94. 5FM Matcha PhotoContest

AP World History, How to write CCOT Essay

The spread of Buddhism and development of Neo-Confucianism represented cultural changes in China. Buddhist monasteries gained political and economic influence through acting as advisors to rulers and through generous grants of land. Empress Wu, a ruler during the Tang Dynasty, used Buddhist principles to rule and was considered a Bodhisattva by Buddhists. Pure Land Buddhism offered the promise of a better afterlife while Chen Buddhism emphasized meditation. The increased popularity of Buddhism in China was a result of the political and economic chaos following the decline of the Han. Buddhism was a salvation doctrine that offered succor to the poor and oppressed. Increasing numbers of sons in the gentry class dropped out of society and became monks, which led to an anti-Buddhist backlash during the Song period. Chinese leadership transitioned from the Han through the Tang. After the fall of the Han there was a period of disunity and chaos called the Three Kingdoms period. Eventually, the Sui asserted their rule, building the Grand Canal and invading Korea and Japan. When the Sui fell due to overexpansion, the Tang took power and established a cosmopolitan rule, extending Chinese territory over the Silk Road and integrating central Asian cultural elements such as Polo and wearing pants. The fall of the Han was caused primarily by pressure from outside invaders on China’s Northwest border – the Great Wall proved ineffective. The re-establishment of dynastic rule resulted from core Chinese values inherent in the Dynastic Cycle and Mandate of Heaven. The effects of the Fall of the Han and subsequent rise of the Sui and Tang Dynasties was cultural change as outside cultures influenced China, including the influence of Indian Buddhism and central-Asian nomadic culture. Confucianism was a cultural continuity throughout the time period. The Han had established the Confucian exam system although test-taking was limited to members of the elite. Under the Sui and Tang the examination system became an important way to establish merit-based government, and examinees were responsible for memorizing and analyzing the Confucian classics. Confucianism and later neo-Confucianism clearly defined the relationship between husband and wife, as evidenced in the â€Å"Three Submissions† women were supposed to obey. Even during the heyday of Buddhist influence, Confucian ideals about the family and roles in society influenced many or the elite and peasant class. Ultimately, Confucianism re-asserted itself in the form of Neo-Confucianism, which incorporated elements of Daoism and Buddhism, and Buddhist influence was squelched. As a result Buddhism is a tiny minority religion in China today, while Confucian values continued through later dynasties. Globally, salvation religions were spreading rapidly during this period as classical empires fell and insecurity became widespread. Christianity was similarly making headway Western Europe, as the collapse of the Roman Empire led to chaos and disruption.

Case study Example | Topics and Well Written Essays - 250 words - 31

Case Study Example The answer to all of these questions is in fact quite simple. It is the respective company’s attitudes towards the employs that work for them that help to define the way the company is viewed in the marketplace and has certainly heavily contributed to the runaway success that they have been able to earn. All of these companies websites make it very clear on their careers panel that the very heart and soul of their business model rests on the thousands of employees that contribute to the larger enterprise. Far more than lip service, the success of the company combined with the marginally higher level of pay that they give to their employees as compared to their competitors help to make each of these firms into the success story that they engender today. Sadly, these cultural aspects of employment do not always correspond to the remainder of the marketplace. I distinctly recall working for more than 1 retail store that treated their employees as a disposable good. In this way, the loyalty of the employees was severely diminished and the moral that was necessary to implement many store policies was all but