identify issues/impacts with mitigation strategies, and include regulatory responses


Identity Theft Response Transcript You have successfully presented an expanded Mobile Device Management Policy, which was approved by the CEO. He now wants you to work on a response plan for identity theft, which you proposed a few weeks earlier as part of a series of four cybersecurity projects. The CEO says to you, “The Incident Response Plan will be our company’s action plan to recover shou ld the ‘worst’ occur. In our case, the “worst” would be a breach of the company’s security that could occur through the theft of customers’ personally identifiable information, possibly through an individual’s mobile device. Such a breach could compromise the integrity of the financial institution’s data.

The CEO continues: “It is your responsibility to be fully prepared, and I want you to ask your team some ‘What if’ questions.” “Specifically, I want you to ask: What if our customer information system is compromised internally by a misguided employee? What do we do? And, What if the system is breached by an external hacker and all our customer records are exfiltrated and/or deleted? How would we respond?” You know that any stolen identity might be that of an employee and/or the identities within the customer information module, which would affect a large number of accounts. Either way, even the slightest breach would be serious, and not having an approved, executable plan of action would only compound the problem. Any lack of regulatory compliance by the organization could also be brought to light.

In the next step, you will compile the report on breach management strategy. After considering the elements of breach management strategy over the last several steps, compile all drafts and revise into a complete five- to seven-page Breach Management Strategy that will present policies to senior leadership for the response to a PII breach. You will need to include an overview of your strategic approach, options available, legal issues, cyber insurance, reporting and other requirements, and finally the proposal.

Your proposal should identify issues/impacts with mitigation strategies, and include regulatory responses where they exist. Note how financial industry reporting requirements differ from health care or other industries. Submit the Breach Management Strategy for feedback. This report will help complete your work on the final incident response plan.More info check this page…..


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