Memorandom

The growth of information technology, ecommerce and e-business encompass much of our lives, evident seen in the financial sector where banks and other financial services institutions use information system infrastructures to produce services to the public.  Most financial services systems are connected to the Internet, making them vulnerable to attacks from both insiders and outsiders. A successful attack can lead to disruption of business continuity, loss of revenue, customer dissatisfaction and loss of clients. Malicious acts such as fraud, theft of data and disruption of business process can be directed to financial services institutions such as banks, credit unions and credit card companies from outsiders through the many various information systems security vulnerabilities: phishing, spoofing, man-in-the-middle attack, social engineering, denial of service attack, etc.  The damage from outsider attacks has decreased considerably as organizations, and large corporation has invested lots of money and effort to defend external attacks (Hong, Jongwung, & Jeonghun, 2010).  However, apart from the malicious threat from outsiders, organizations including financial services institutions face more serious threats from malicious Insiders.  

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