$454$CIS $$ IT Audit and Control $-$Semester $461$ Assignment: Risk Identification and Solution Proposal for Online shopping Platform Total Marks: $10$ Marks $[5+5$ scaled to $10$ marks$]$ Submission Guidelines: $$ Submit your assignment in a typed document $($e$.$g$.,$ Microsoft Word or PDF$).$ Clearly label each identified risk and proposed solution. $[5$ mark$]$ Provide detailed explanations and justifications for your suggestions. $$ Allowed Plagiarism $/$ similarity score marks cutoQ....$>50\%-$ Zero marks$]$ Deadline for submission: $[3$rd October $2024].$ Instructions: $$ This assignment focuses on analyzing risks associated with an online shopping platform and proposing practical solutions to mitigate these risks. $$ Read the provided case study carefully and identify key risks based on the scenario described. $$ For each identified risk, propose eQective solutions or controls that the Shopping business can implement to enhance the security and reliability of its online shopping platform. $$ Ensure your proposals are well$-$supported with relevant theories and concepts discussed in the $454$CIS course. $$ Provide clear explanations and justifications for your suggestions. Case Study: Online Shopping Platform Background: XYZ company has recently launched an online shopping platform to facilitate remote sales for its customers. The platform allows customers to access products details, place orders, participate in feedback and rank the products, and interact with customer$-$care. While the platform has been well$-$received by customers, there are concerns about potential risks associated with its operation. Scenario: Several incidents have occurred recently that have raised concerns about the security and reliability of the online shopping platform: $1.$ Data Breach: There was a data breach in which customer information, including names, email addresses, and credit $/$debit card account details, was compromised. $2.$ System Downtime: The online shopping platform experienced frequent outages and downtime, aQecting customers' ability to access product details, order details and get delivery of products on time. $3.$ Unauthorized Access: Some customers reported instances of unauthorized access to their accounts, resulting in hacking of the bank accounts and unauthorized use of personal information. Tasks and Mark Distribution: $1.$ Identify All mentioned Risks $(5$ Marks $=5*1$marks$)$ Identify and prioritize the key risks $[$ such as functional risk, financial risk, time risk, after$-$sales risk, and delivery risk$]$ associated with the operation of the online shopping platform based on the scenario provided. $2.$ Suggest Solutions for all mentioned risks $(5$ Marks $=5*1$ marks$)$ For each identified risk, propose practical solutions or controls that XYZ company can implement to mitigate the risks and improve the security and reliability of the online shopping platform.

Several incidents have occurred recently that have raised concerns about the security and reliability of the online shopping platform:

$1.$ Data Breach: There was a data breach in which customer information, including names, email addresses, and credit $/$debit card account details, was compromised.

$2.$ System Downtime: The online shopping platform experienced frequent outages and downtime, affecting customers' ability to access product details, order details and get delivery of products on time.

$3.$ Unauthorized Access: Some customers reported instances of unauthorized access to their accounts, resulting in hacking of the bank accounts and unauthorized use of personal information.

Tasks and Mark Distribution:

$1.$ Identify All mentioned Risks $(5$ Marks $=5*1$marks$)$

$-$ Identify and prioritize the key risks $[$ such as functional risk, financial risk, time risk, after$-$sales risk, and delivery risk$]$ associated with the operation of the online shopping platform based on the scenario provided.

$2.$ Suggest Solutions for all mentioned risks $(5$ Marks $=5*1$ marks$)$

$-$ For each identified risk, propose practical solutions or controls that XYZ company can implement to mitigate the risks and improve the security and reliability of the online shopping platform.