Scenario
“TradeX Finance Inc.” is a newly incorporated finance organization, with incorporations obtained to operate in several countries simultaneously. The head office of the “TradeX organization” is located in Singapore, and they are planning to open up two subsidiary offices initially in “India” and “Malaysia”.
The operations of the organization involve “Micro Financing” for various small and medium scale industries. Their future goal is to expand to many countries, specially developing countries to accommodate Micro Financing to SME sector of these countries. They also will operate their own forex trading unit, to facilitate efficient currency management across many countries that they operate. They wish to also explore the potential of maintaining a crypto currency accounting unit to accommodate smooth fund transfers across countries where cryptocurrency is legally recognized.
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The organization is in the process of setting up their IT Infrastructure, and has appointed your team as the IT Security Consultants. They need to set up a comprehensive security and disaster recovery system in order to securely manage their information based assets.
As a cross border finance organization, operating under jurisdiction of various legal entities the organization faces many challenges, including.
Being an attractive target entity for cyber criminals, who operate for financial gain
Having to operate under differing legal systems, regarding data protection and privacy
Having to operate in countries, which does not have best Cyber Security Response Teams
Operating in countries where the government law enforcement systems do not have required efficiency or expertise in cybercrime mitigation or jurisdiction.
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