GFI Turn-Around IT Strategy
Turn-around Information Technology Strategy for Global Finance, Inc. (GFI)
GFI's Authentication Technology and Network Security Issues
GFI TURN-AROUND IT STRATEGY
Global Finance Inc. offers services in the finance industry. This is a sensitive area of business that requires tight security policies and strategies to be implemented on the network of such an organization. GFI has, however, not given much attention to the IT department, especially, its security and thus the loopholes that exist and have been exploited by black-hat hackers. This is clear from the facts provided that the company's oracle database has been compromised in terms of availability, confidentiality and the integrity of the data stored. Organizations in the finance industry have the integrity, confidentiality and availability of their databases as one of their biggest assets. A simple mistake or gap on such an organization's technology policy and implementation may lead to huge losses that may see the organization going out of business. Any business organization that deals in the finance industry requires a strong IT department that is able to come up with strong policies, carefully implement them, monitor them and control any breaches on the system. To function as required and safeguard the assets of an organization, the strong IT department requires a sufficient budget and dedication from the top management.
A number of gaps in the network security and technology strategy of GFI can be identified from the details provided. Below is a discussion on the gaps and how the gaps expose the organization to various risks.
Authentication Technology and Loopholes at GFI
Authentication is a key aspect as far as the protection of information technology assets of an organization is concerned. various forms of authentication are available for use by organizations to keep unauthorized people from accessing the resources of the organization and probably compromising the confidentiality, availability and integrity of the data held in its databases. Some of the most common forms of authentication mechanisms include the use of suitable standard passwords and usernames for users while logging into the systems of an organization to carry out their roles. Biometric authentication is an effective method utilized by some systems to authenticate users into accessing the resources of an organization. Some organizations combine more than one authentication mechanism to improve the security of their assets (Cole et al., 1978).
GFI does not seem to consider authentication as an important aspect in its information technology strategy. Authentication mechanisms of an organization should trickle down from a policy to implementation by an able IT department. Going by the information provided about GFI, the organization does not have a policy of the most appropriate authentication mechanism in ensuring that only authorized individuals access certain resources of the organization. Thus, there is nothing that the IT department is expected to implement as far as authentication mechanisms are concerned. The GFI IT department should take time and design an authentication and accountability policy (Guichard & Apcar, 2001).
The simplest and effective authentication policy can revolve around the nomenclature of user names of the GFI staff combined with passwords of desirable parameters. Unique staff numbers can be used as user IDs when accessing the organizations systems to ensure accountability. In addition to the user names, passwords meeting the desired standards can be used to authenticate the users. Some of the necessary password parameters should revolve around the minimum length of passwords, complexity aspect of passwords, password expiry aspects, lockout durations when wrong passwords are used to access resources, maximum number of wrong password attempts when logging in and a requirement for users to change their passwords upon first logon. Weak authentication mechanisms are a dangerous aspect that exposes systems to black-hat hackers in compromising the resources of an organization (Mark & Lozano, 2010).
Going by the information provided, black-hat hackers have already accessed the resources of GFI and caused a number of undesirable effects. The IT department is said to have witnessed a sudden huge amount of data flowing into the oracle database. Possibly, this could be a denial of service attack launched by malicious attackers. They might have taken advantage of the poor or lack of an authentication policy and strategy by GFI. Social engineering could be one of the methods through which the hackers realized information about lack of authentication mechanisms by the organization as the huge surge of data...
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