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Systemics, Cybernetics And Informatics Orlando

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Question:

Discuss about the Systemics, Cybernetics and Informatics Orlando.
 
 

Answer:

Introduction

Cyber threats are becoming one of the most effective threats in the developing era of technological advancements (Bonaci et al. 2015). Cyber security threats are making the technical industry weak with respect to various flaws invalid within the technical advancements. In addition to this, these cyber crimes are leaving their impacts on every country all over the world.

This report is elaborating about the impacts of cyber security threats on banking industry of Middle East countries. There are six cases that are being presented within this report.

The cyber attacks are targeting the e-mails used or transferred within work places for managing their work schedules as well as other important perspectives. The banks of UAE also utilize the emails for their daily purposes and functionalities that are tracked by the cyber criminals and they are imposing virus and malware within these e-mails that makes those concerned e-mails injected (Paye 2017). Whenever these e-mails are being opened the criminals can easily track the activities of the user from their personal computer. Henceforth, all of the information from bank’s personal computer is revealed to these cyber criminals for their criminal activities and they can easily hack their system architecture. As an example of this breach the Qatar National Bank (QNB) is the largest bank in the Middle East which faced 1.4 GB of customer data hack by these e-mails used by the technical heads of the financial institution.

This is another case of cyber security threats that impacts on the security system architecture of financial institutions. The hacker uses popup windows that contains interesting adds and reveal interesting facts about various programs that attracts the users and they click on the highlighted button (Paye 2017). These popup contains macro codes that allow the hackers to have view on the protected contents of the personal computer and all the financial information get revealed to the hackers. As an example of this type of attack is given as follows: United Arab Emirates (UAE)-based Investbank UAE, faced same attack in the year of 2015 that revealed their hidden information to the hackers and this information got hacked with respect to the protected view of their personal computer.

This is another cyber threat that the banks of Middle East is facing due to the lack of security measures getting involved within the banking sector for managing data security within banks. In addition to this, the financial sector is facing issues due to hacking activities are getting popular among different hackers and they are using various tools and functional element for managing the protected view of user data among several personal computers (Tradearabia.com 2017). This particular hacking issue is dominating the UAE’s banking sectors with respect to their functional measures. As an example of this cyber threat, the Saudi Stock Exchange has faced different activism issues in the year of 2014 and these are considered as the marks for cyber attacks that are dominating the banking sectors of UAE (Tradearabia.com 2017). 

 

Phishing and ATM hacks

Phishing and ATM skimming are another disadvantageous technical advancement that is putting the financial sector at danger. The economic prosperity and light speed growth in mobile banking industry has introduced these cyber threats to the industry with respect to vulnerable and innovative demands of the users and customers. Additionally, as a result of these growth phishing, and ATM skimming has introduced within the financial sector of UAE (Tradearabia.com 2017).  According to different researches found on cyber security in banks has revealed that there are various attacks found within the Gulf countries that tried to steal money from the Automated Teller Machine (ATM) with the help of coding mechanism that make these machines directed accordingly with the directions of hackers and all money can be absorbed by these hackers from different ends of the world (Tradearabia.com 2017). 

This risk is another important cyber threat on the list of UAE that has impacted on the banking industry of the Middle East countries.  Banking sector always incorporates the functionalities of third party holders within it (Tradearabia.com 2017). Therefore, the third party access institutional data and information causes the increased chances of cyber security perspectives for data threat involved within banking sectors (Tradearabia.com 2017). The GCC countries have faced various data threats due to these vulnerable threats being incorporated within UAE countries. These third parties are accessing the data from the personal computers of institutional members and they can easily hack all the information collected from those data. This aspect makes the system architecture of the banking sector weak inefficient with respect to these hacking activities involved within this sector.   

Rise in Alternative payment system

Rise of various different payment system approaches, the banking sector is facing issues due to lack of security measures incorporated within the system architecture of banking sectors. The banks are not capable managing the threats coming from different payment systems all over the world (Tradearabia.com 2017). Additionally the UAE is experiencing the same phenomenon that other banking sectors are facing for utilization of other payment gateways by their customers (Tradearabia.com 2017). This aspect introduces various malwares and security risks involved within the system architecture of the banks those impacts on their security infrastructure of them.

Conclusion

This can be concluded that the cyber security threats are very impactful in case of development of different countries. Though technological advancement is making their growth faster, these cyber attacks are making their development perspective weak. This report is elaborating about the six different cyber security threats the Middle East countries are facing now a days. These elaborations are helpful in solving various significant threats involved within the banking sector of UAE with respect to various functional disruption involved within the financial institution of UAE with respect to their measures taken for preventing cyber security threats involved within their banking sectors. ter ment is makign ctful in case of development of differnet res. ts. therefore

 

References

Bonaci, T., Herron, J., Yusuf, T., Yan, J., Kohno, T., and Chizeck, H. J., 2015. To make a robot secure: An experimental analysis of cyber security threats against teleoperated surgical robots. arXiv preprint arXiv:1504.04339. [online: https://arxiv.org/pdf/1504.04339.pdf]

Choucri, N., Madnick, S., & Koepke, P. (2016). Institutions for Cyber Security: International Responses and Data Sharing Initiatives. [online: https://web.mit.edu/smadnick/www/wp/2016-10.pdf]

Glantz, C. S., Landine, G. P., Craig Jr, P. A., and Bass, R. B., 2014. Lessons Learned in Over a Decade of Technical Support for US Nuclear Cyber Security Programmes. In International Conference on Nuclear Security: Enhancing Global Efforts. Proceedings of the Interational Conference. [online: https://inis.iaea.org/search/search.aspx?orig_q=RN:45045546]

Hong, J., Nuqui, R., Ishchenko, D., Wang, Z., Cui, T., Kondabathini, A., Coats, D. and Kunsman, S.A., 2015. Cyber-Physical Security Test Bed: A Platform for Enabling Collaborative Cyber Defense Methods. In PACWorld Americas Conference. [online: https://s3.amazonaws.com/academia.edu.documents/38934457/2015-07-20_PACW_Americas_paper.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3A&Expires=1492890973&Signature=joYVs84ccKbhyRTggYqob5sws08%3D&response-content-disposition=inline%3B%20filename%3DCyber-Physical_Security_Test_Bed_A_Platf.pdf]

Paye T., (2017). A new wave of cyber attacks targets the Middle East’s banks. [online] Available at: https://www.computerweekly.com/news/450297057/Middle-East-banks-caught-in-cybercriminals-crosshairs [Accessed 20 Apr. 2017].

PITAS, J., N?mec, V. and Soušek, R., 2014. Mutual Influence of Management Processes of Stakeholders and Risk Management in Cyber Security Environment. In The 18th World Multi-Conference on Systemics, Cybernetics and Informatics. Orlando, Florida: International Institute of Informatics and Systemics (Vol. 2, pp. 94-97). [online: https://www.iiis.org/CDs2014/CD2014SCI/SCI_2014/PapersPdf/SA037ZZ.pdf]

Tradearabia.com. (2017). Hacktivism, Western cyber key threats for Mena. [online] Available at: https://www.tradearabia.com/news/REAL_271336.html [Accessed 20 Apr. 2017].

Von Solms, R. and Van Niekerk, J., 2013. From information security to cyber security. Computers & Security, 38, pp.97-102. [online: https://www.researchgate.net/publication/278325582_From_information_security_to_cyber_security]

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