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ITECH 5500 - Management

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ITECH 5500 Professional Research and Communication CRICOS Provider No. 00103D Assignment Proposal.docx Page 1 of 5 Research Proposal Overview The purpose of this assessment is to enable students to demonstrate a critical awareness of previous research in an IT context within a chosen topic area through a basic understanding of research theory and techniques. It requires clear communication of ideas in a professional manner so that the reader can easily understand the purpose and results of your research. Overall goals of this assignment are to help you to: ? Become more knowledgeable about finding and using varied research sources in your chosen area in IT. ? Further develop your critical thinking skills and back up your points with evidence. ? Become more adept at synthesizing information

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Threats to cybersecurity in the banking system

Introduction

In the last 10 years, cybersecurity has gained exceptional importance on a global scale. Abomhara (2015, p. 91) has stated that cybersecurity remains to be a national priority because it plays an important role in safeguarding things and preventing any damage. However, with the increasing importance of cyberspace, there is a rising threat from the cybersecurity due to the potential hackers around the globe. Bhasin (2007, p. 11)describes the cyberattack as an attempt where cybercriminals access, alter, or damage the target institution's computer system, resulting in the down falling off the system and loss of funds and data. Today cyber threats have been more sophisticated with the right blend of the distinct type of attacks which damages the financial institutions especially banks. Abomhara (2015, p. 91)states to gain personal and confidential information, criminally motive behind the cybersecurity system has become highly dangerous. The economic nationalism of the US, UK, and Australia are among those countries which face the highest threat of cybersecurity due to professional hackers in the country. As the secure and developed nations cannot shut down the cybersecurity completely, they can focus on building national resilience needed to maintain secured cybersecurity. According to the Boston Consulting Group, UK, today US and UK banks are 300 times

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