Preview

Risks of Hacking on Bank Industry

Satisfactory Essays
Open Document
Open Document
360 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Risks of Hacking on Bank Industry
Risks of Hacking on the Banking Industry
Marena Piccillo
Wilkes University
MBA 546

Introduction According to Mitchell, B. (2012), the term hacking is defined as is “any technical effort to manipulate the normal behavior of network connections and connected systems.” Those who engage in hacking are termed hackers. Hacking on computer networks is often done through network programming. Hackers manipulate data passing through scripts, or a network connection, to obtain more information about how the target system works. These scripts are on the Internet for anyone to use. However, advanced hackers study and modify these scripts to develop new methods on how to manipulate network connection and computer systems by accessing password-protected computers, files, and networks (What is hacking?, 2012).
The online article, What is Hacking? (2012), warns that anyone can fall victim to hackers, whether a home user, student, blogger, or network administrator. There are more than 100,000 known viruses and that number is increasing daily. The damage caused by a virus can vary significantly, from a small inconvenience to having very serious consequences that can lead to a catastrophe, depending on the hacker 's intent. Viruses cause unanticipated behavior to occur in a computer 's operating system while multiplying within the computer.
The concept of hacking was introduced in the 1950s and 1960s by M.I.T. engineers and was referred to as constructive, clever technical work (Mitchell, B., 2012). At that time, hacking was intended for learning activities and technical experiments, not necessarily related to computer systems. Those outside of M.I.T., began using their hacking skills for less honorable activities such as modifying telephone lines to make free, illegal, long-distance telephone calls. As the use of computers and the Internet became more popular, data networks became the most common target of hackers and hacking. Hacking is now associated with



References: Mitchell, B. (2012). What is a hacker? About.com. Retrieved from http://compnetworking. about.com/od/networksecurityprivacy/f/what-is-hacking.htm What is hacking? (2012). Retrieved November 24, 2012 from What is my IP Address website, http://whatismyipaddress.com/hacking

You May Also Find These Documents Helpful

  • Better Essays

    Oriyano, S.-P., & Gregg, M. (2011). Hacking Techniques, Tools, and Incident Handeling . Burlington: Jones & Bartelle Learning .…

    • 1902 Words
    • 8 Pages
    Better Essays
  • Satisfactory Essays

    Nt1310 Final Exam

    • 393 Words
    • 2 Pages

    Computer Hacking in 1960’s up to 1970’s – an individual working with computers who were technically gifted and skilled it was defined by computer ethicist Duncan Langford (1995).…

    • 393 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Nt1310 Unit 3 Essay

    • 1872 Words
    • 8 Pages

    There are cybercriminals who commit crimes using the computers and networks. They spread malicious viruses through the networks such as worms and Trojan horses. They hack other people's computers to steal important data and identity or destroy data. A hacker uses a packet sniffer to intercept the unencrypted network traffic and capture the passwords or other important information which was communicated through the network. Botnet or a Zombie computer is a computer which a hacker uses to spread viruses and to commit cybercrimes while the owner of the computer is unaware of it.…

    • 1872 Words
    • 8 Pages
    Better Essays
  • Good Essays

    Hacking is when a highly technical skilled individual or a group pass their way into a computer network or program without permission. This ends up in important data being stolen by the hacker which is illegal.…

    • 769 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Crt 205 Final Project

    • 2361 Words
    • 10 Pages

    | |author. If none exist, explain how you |However, hacking is a process use be Information Technology (IT) |…

    • 2361 Words
    • 10 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Tim J. Watts goes more into the dark side of the “hacker” community by bringing up the constant back in forth between computer security officers and the so called hackers. This article, being written this year is able to reflect on the events of September 11, 2001 and new homeland security measures. He represents this viewpoint of a dangerous hacker in his definition: “While some hackers are harmless, others break into systems with the intent to steal information or to do destruction to the system. Hackers performing the latter pose a serious threat to the economic future of the United States” (Watts). Tim Watt outright blames the hacker community of accessing information that should be private. Only looking and reflecting on the serious threat…

    • 154 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Computer Memory Hacking

    • 820 Words
    • 2 Pages

    Who Are Hackers ­ A Hacker 's Tools Of The Trade | Hackers | FRONTLINE | PBS. (n.d.).…

    • 820 Words
    • 2 Pages
    Good Essays
  • Good Essays

    To elaborate, according to the article the government frequently encounters cyberattacks, ranging from groups like Anonymous, to more severe groups like Russian hackers Guccifer 2.0. Additionally, most of the hacks come from China and Russia and have had success with breaching security through a tactic called phishing. By sending links disguised as company or personal emails, hacker groups can easily infect computers with malware and other viruses. Although the hacks have mostly been targeted to gain unleaked and classified material, the capability for hacks with more severity is real.…

    • 445 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Flawfinder

    • 277 Words
    • 1 Page

    Phillips, S., & Oriyano, G. (2010). Hacker Technique, Tools, and Incident Handling. Jones & Bartlett Learning…

    • 277 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Causes Of Identity Theft

    • 1108 Words
    • 5 Pages

    Hackers are people who hack into other people’s computers or electronic devices so they can take control over their things. A book titled Net Crimes and Misdemeanors written by J. A. Hitchcock takes us through many different aspects of how people take and control our things. She explains to us “When you’re connected to the internet, your computer is part of a worldwide network and anyone can try to connect to your system. The best way to describe it is by contrasting it to your television, a one-way communication mechanism” (Hitchcock 237). Hackers can reach any personal information located on an individual’s computer. Any accounts or credit card numbers in the system, they can get ahold of. We use many internet softwares today that can help prevent hackers, but not all the time. Hackers are extremely knowledgeable with computers and can find their way in. Hitchcock also gives us a little background information on when many viruses and softwares were introduced. She states, “…there was a good enough market for a security suite that included a personal firewall and antivirus capability. They were right. When NIS was introduced in December 1999, the U.S. retail market for internet security software grew more than 140 percent” (Hitchcock 236). Throughout the years, many software updates came out to help protect people and their information. The problem is that the more…

    • 1108 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Hackers: A hacker is someone who finds weaknesses in a computer or computer network, enters, and modifies or/and steals data this could slow down performance very much or even completely halt it.…

    • 555 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Internet security is a division of actions aimed at securing information based on computers and in transit between them. In the modern environment the two subjects are intimately linked. Neither computers nor the networks that connect them are inherently secure. Computers were subject to attack before the Internet became a public utility—because illegitimate software hidden on commercial diskettes could be fashioned to load itself on a computer and play havoc with data in memory or placed on a fixed drive. The Internet, by its very nature—initially conceived of as an open network to facilitate free exchange of ideas and information—is vulnerable. According…

    • 3034 Words
    • 13 Pages
    Powerful Essays
  • Powerful Essays

    Cybercrime: Hacking

    • 1198 Words
    • 4 Pages

    With everything in society advancing rapidly, it should be of no surprise that technology is now used to commit crimes against other people. Those crimes include identity theft, stealing money, illegal gambling, and cyberstalking. This paper will review cybercrime and the differences there are from traditional crime and it will review the purpose of hackers. There will also be three cases reviewed to help bring light to what kind of cybercrimes are being committed around the world.…

    • 1198 Words
    • 4 Pages
    Powerful Essays
  • Satisfactory Essays

    Computer Misuse Act

    • 311 Words
    • 2 Pages

    When an unauthorised person uses a network, internet or modem connection to gain access past security password or other security to see data stored in another computer.…

    • 311 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Imagine yourself going into the bank to get money out of your account for your rent or other important bill, and the account is dry and you just got paid the day before..or going to pay a bill with your credit card and card after card is maxed out then you find out that someone has stolen all your information and used all of your resources to live and pay bills. If this happened to me my heart would be beating so fast in panic id probably pass out considering I have so many kids to provide for. Well it happens everyday to people everywhere all over the world. One of the major problems causing this is called hacking which is defined by the company who created the website the free dictonary dot com, Houghton mifflin company, as to gain access to a computer file or network illegally or without authorization. It is a big problem not just here but in other countries as well.One incident id like to mention is the playstation store being hacked into…

    • 521 Words
    • 3 Pages
    Good Essays