Reference no: EM132291456 , Length: word count:3500
Write essay on cybercrime and prevention jurisdiction
Please read through the following guidance notes before writing your assignment.
Assignment
1. Please collate your assignment as a single document in a Microsoft Word format.
2. Save the assignment as your candidate ID number, e.g. CON-000123456.
3. All marking is anonymous, which means your name should not appear on your work.
4. You must state which region/jurisdiction you are from in the header of each page.
5. You must ensure that all of your work is properly referenced using footnote referencing.
6. Penalties will be applied to those candidates who submit their assignment
The total word count for this assignment should be between 2,500 and 3,500 words. This includes all in text references and appendices but excludes any footnotes, bibliography, reference page or contents page. N.B. Appendices should only be used in exceptional circumstances and should consist of only brief extracts or tables.
8. The amount of words per question should reflect the number of marks allocated.
9. Penalties will be applied for excessive overall word count.
All questions can be answered in relation to a jurisdiction with which you are familiar.
Where a specific jurisdiction has been selected this should be clearly stated in your answer.
You are the head of financial crime prevention (FCP) within a regulated firm, from a jurisdiction and sector of your choice. A competitor has recently been the latest victim of a cybercrime attack that brought down all operating systems within the firm. The firm was unable to rectify the situation quickly and customers could not access any accounts for 72 hours.
After this time, some customers realised that their accounts had been compromised and money had been appropriated.
The board of directors (BoD) has been shocked by the attack on the competitor and have requested an immediate response to ensure your firm does not become the next victim.
With a focus on the approach required to mitigate the risks associated with cybercrime, prepare a report to the risk committee and BoD that considers the following:
• an initial outline about the high-level risks associated with cybercrime
• any international and jurisdictional regulatory requirements and available guidance to reduce the associated risks (for the firm)
• an overview and critical evaluation of the key systems and controls that your jurisdictional regulator would expect to see implemented within a regulated firm, to detect and prevent cybercrime taking place
• the importance of ensuring staff