Consider the Citibank incident in 2005 where more than 39 mi

Consider the Citibank incident in 2005 where more than 3.9 million customer’s personal financial information disappeared during shipment from its Weehawken, NY facility.

Was this an unpreventable incident, or did Citibank fail to implement enough safeguards to minimize this incident from occurring? Could Citibank’s corporate culture have played a part in the incident occurring? Which aspect of the contingency planning process came up short, the IR, BP, CP or a combination of a few. What benefits, if any, would have been gained if Citibank had developed such a plan you have proposed? If you were Citibank’s CSO, what would you have done differently? What practices and procedures would you have put in place? How should the media have been secured, transmitted, and stored? How would you have guided the efforts of the CSIRT, or were they not needed for this type of incident? Why do you believe that your direction would have worked?

provide me a breif discusssion on each question with citations.

Thanks

Solution

Q1.

It was a sudden accident which has happened in the Citibank, the incident that took place has totally been taken under control.  

Q2.

Nothing as such has happened as it is always a reputation that the bank maintains for its customers.

Q3.

The contingency plan IR and BP have been chosen to restore the situation.

Q4.

The benefits can be like for IR, the immediate response and focus should necessary to be maintained in the organization to fix the situation; the second step is BP it is necessary to provide alternate facility until any primary arrangements are made.

Q5.

First I would like to inform the customer\'s nothing wrong has happened with their financial accounts and also give them the assurance that their money is safe.

The practices and procedures are like:

1. Quick solution to be raised within the immediate hours

2. A technical team needs to be hired to look after the incident and finally, they should be given the instructions to secure the server.

Q6.

The media is necessary to be proctored by the technical engineer about the discrepancy held and should seal the server for any bank transactions. It will give the customers to remain panic free and they also protect the bank from any harm or loss of money.

Q7.

Yes, they are of course needed for this incident. They have been guided with full support to keep the bank server safer from unknown usage. It has also helped the bank to retrieve from all the disappearance that has taken place in the bank.

Q8.

Somehow it took a little time but finally, it has worked. The directions which have been given were all followed by the teams and the incident got the way to resolve without any harm.