Read the Case study below and answer the questions the follow:

Question

A glitch in big-four bank First national Bank's (FNB's) mobile app has exposed personal information of customers applying for home loans using the digital platform. It was discovered that if an FNB client used the mobile app to apply for a home loan, they would easily see the personal details of other home loan applicants. The exposed data includes personal identifiable information, such as names, identity numbers and contact details. An FNB client who discovered the exposed data has since informed the Information Regulator, asking it to take the necessary measures against the big-four bank.
"I wish to lodge a complaint against First National Bank in respect to a breach of personal information through their banking application," the client reported to the regulator.
"Whilst applying for a home loan through the service,
I noticed that I was able to access other individuals' personal information, such as ID numbers, contact details and various financial information, which is visible to other applicants, including my personal information.
"I have documented this by way of screenshots and have evidence to support this data breach.
I believe my rights in terms of the POPI Act [Protection of Personal Information Act] have been infringed and poses a huge personal security risk," stated the client.
"Your e-mail contents have been noted and will be addressed with the responsible party," says a complaints and investigations officer of the Information Regulator in an e-mail..Under South Africa's data privacy law, the Protection of Personal Information Act (POPIA), organisations must inform the Information Regulator if they expose the personal information of data subjects to unauthorised third parties without their approval. FNB has acknowledged exposing the personal information of its clients, saying it is in the process of notifying the relevant authorities, as well as those who have been impacted.
While the financial institution has rushed to disable the app functionality in question, it did not disclose how many customers were impacted.
Says the bank in a statement: "FNB is aware of a technical error that made the information of certain home loan applicants, such as full names and ID numbers, visible to other home loan applicants who logged in via our digital channels.
FNB takes the privacy and protection of customer information very seriously, and the affected functionality has since been temporarily disabled to resolve the root cause of the issue.
We are in the process of contacting the affected customers and the appropriate regulator.
Customers requiring any assistance can contact us through Secure Chat on the FNB app."
FNB recently made sweeping changes to its brand, including a redesign of its popular banking app.
The FNB app, introduced more than a decade ago, saw its active transacting base exceed 4.7 million customers, based on results for the year ended 30 June 2022.
The data exposure comes at a time the Information Regulator is receiving an unprecedented number of reports about data breaches in South Africa.
Speaking during the Governance, Risk and Compliance 2023 conference last week, advocate Pansy Tlakula, chairperson of the Information Regulator, revealed that data breaches are a big problem in this country - much bigger than people think. "Every public body,
every private body that has suffered a security compromise or data breach has to notify us - there is no threshold. Even if one person was breached, they still have to notify us. If you look at 500 (it's 564 to be precise), it means that in a month, this country suffers about 56 data breaches - major and minor ones," she revealed. "I think we are one of the highest in the world with data breaches."..POPIA sets down firm frameworks that companies have to abide by to avoid fines, criminal persecution and potential reputation loss. Breaching the rules and regulations outlined by this Act can have serious financial implications for the business - repercussions that can cost a fortune and have long-lasting consequences, such as reputational damage.
The Act makes provision for fines of up to R10 million and a jail sentence of up to 10 years, depending on the seriousness of the breach..Identify eight (8) other factors that contribute to the CIA for strengthening the information security for FNB in the above case?..Write an answer for 10 marks

Answer 1

To strengthen information security for First National Bank (FNB) in light of the data breach described in the case study, the bank should consider the following eight factors related to the principles of Confidentiality, Integrity, and Availability (CIA):

1. Access Control Mechanisms: Implement robust access control measures, ensuring that only authorized personnel can access sensitive information. This can include multi-factor authentication, role-based access, and regular reviews of access levels.

2. Data Encryption: Encrypt sensitive personal information both in transit and at rest. This would help protect customer data from unauthorized access, even if it is exposed due to a software glitch.

3. Regular Security Audits: Conduct regular security audits and vulnerability assessments to identify and mitigate any weaknesses in the mobile app or associated systems. Having an independent third party perform these audits can provide an objective view of the security posture.

4. Incident Response Plan: Develop and maintain a comprehensive incident response plan that enables prompt action in the event of a data breach. This should include procedures for notifying affected customers and regulatory bodies, as well as steps for investigating and rectifying the breach.

5. Employee Training and Awareness: Conduct regular training sessions for employees on data protection best practices, the importance of safeguarding customer information, and recognizing social engineering attempts. An informed workforce is a critical line of defense against data breaches.

6. Application Security Testing: Implement secure software development practices, including regular application security testing (e.g., penetration testing, code reviews) to identify and address vulnerabilities in the mobile app before it goes live.

7. Privacy by Design: Adopt a "privacy by design" approach in the development and maintenance of digital platforms. This involves integrating data protection considerations into all aspects of the mobile app's design and functionality from the outset.

8. Monitoring and Logging: Enhance monitoring and logging of system activities related to sensitive data access and transactions. This can help in the early detection of suspicious activities and provide insight for forensic analysis in the event of a breach.

By focusing on these factors, FNB can enhance its information security framework, thereby promoting customer trust and compliance with regulatory requirements, particularly those outlined under the Protection of Personal Information Act (POPIA).