Question

case study 1: fraud

A lead software developer at a prominent financial services firm devised a scheme by which he could earn fraudulent rewards points by linking his personal accounts to corporate business credit card accounts of third-party companies. He cashed in the rewards points for gift cards and sold them in online auctions for cash. In all, he was able to accumulate approximately 46 million rewards points, $300,000 of which he converted into cash.

Discuss potential post-incident improvements to a response plan for the prominent financial services entity after the successful insider fraud activity.

Answer 1

As per the scenario, we can able to see that it is a internal fraudulent case where the person somehow managed to get hold of the rewards point and later he encashes those rewards point. So, it is important that the finance team to look from where the reward points are actually being collected. So, here the engineer has somehow managed to get into the network of the 3rd part company and able to exploit the data from that company for personal use.

So, as a part of post improvements to this incident response plan, the administrator team should check every employees system traffic where they are trying to connect or access. Secondly, checking the amount of data being imported into the infrastructure. This tracking can help the company to understand what and all data are coming in and what and all data are going out.