Risks of Hacking on Bank Industry

Topics: Computer network, Computer, Internet Pages: 2 (360 words) Published: March 24, 2013
Risks of Hacking on the Banking Industry
Marena Piccillo
Wilkes University
MBA 546

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...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • risks in banks Essay
  • Role in risk mgt of Bangladeh Bank Essay
  • Risks in Banks Essay
  • Hacking Essay
  • Hacking Essay
  • Hacking Essay
  • hacking Essay
  • Hacking Essay

Become a StudyMode Member

Sign Up - It's Free