The Big Bank, Inc. is a large financial services firm that handles sensitive data, including financial information and personal identification data of its customers. In recent months, there have been several high-profile cybersecurity breaches that have resulted in the loss of customer data. After conducting a thorough investigation, the company's IT department discovered that the breaches were the result of a sophisticated phishing attack that exploited vulnerabilities in the company's email system.

Required:

As a cybersecurity expert, address the following issues:

1. Analyse the potential impact of the data breaches on the company's customers and the wider financial industry.
2. Discuss the role of cybersecurity regulations and standards in mitigating cybersecurity risks.
3. Discuss a detailed incident response plan that outlines the steps that the company should take in the event of a future cybersecurity breach.

Answer rating: 100% (QA)

Analyzing the Potential Impact Customer Trust and Reputation The data breaches will likely erode customer trust in Big Bank Inc Customers may choose to move their accounts to other institutions they p View the full answer