The Big Bank, Inc. is a large financial services firm that handles sensitive data, including financial information and personal identification
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.
As a cybersecurity expert, address the following issues:
- Analyse the potential impact of the data breaches on the company's customers and the wider financial industry.
- Discuss the role of cybersecurity regulations and standards in mitigating cybersecurity risks.
- Discuss a detailed incident response plan that outlines the steps that the company should take in the event of a future cybersecurity breach.