Background of the study

Discuss about the Report for Network Security in Standard Chartered Bank?

In this research, the researcher has assessed network security of Standard chartered bank of UK to improve its quality by proper synchronization. Network security involves major policies that are adopted to monitor its unauthorized access, modification and other tangible network-accessible resources (Biringer, 2013). It also involves authorization of access to a particular data that a network uses with the help of other administrators. Users choose an ID and password that authenticates information to allow information to the other authority. However, the purpose of the research will be to improve the synchronized network securities of Standard chartered bank. Moreover, the network security implementations synchronize variety of computer networks that does transactions to banks through the help of government agencies (Boot and Ratnovski, 2012). Thus, the common way of protecting a network would base on assigning territories that have a unique name and a password.

The researcher has designed a fair treaty by implementing objectives that have a good orientation in developing networks. This would synchronize the networks by developing an ID to the user. However, this would be followed by a suitable password that is restricted through a firewall and a defender (Brennan and Barnes-Murphy, 2013). However, the networks must be aided with anti-viruses that would block the viruses from a different platform. It is important that communication between the two hosts using a referral network may be encrypted to maintain privacy. Standard Chartered bank has good operation on the financial activities because it operates on corporate and institutional banking environment. It also operates a network of around 1200 branches across 70 countries, and more than 87000 people are employed overall. Since it has a good retail banking structure, it gains profit of around 90% from Asia, Middle East and Africa (CECCHETTI, 2014). The current survey of Standard chartered bank is initialized around £15 billion on 2016. Moreover, it has a good stock exchange factor on the traditional market to gain long-term benefits (Cheng, 2014).

The researcher has reflected an issue by contributing Standard chartered bank to synchronize its network stability. In this research, the integral part made through the cyber security includes Cloud computing, regulating Cyber crime, identifying toolkit for network security and other factors.

What is the issue?

The issue of the research would lie on the defects caused due to network securities of Standard Chartered Bank of UK. Due to lack of resources on network security, Standard security banks cannot function properly. Thus, a major issue is initialized on the banking securities due to unavailability of securities and passwords.

Why is it an issue?

This issue is been a major problem. It is seen that there are some passive networks, which hamper the network securities of Standard Chartered bank. Thus, due to unavailability of utilizing these networks to a proper effect, the issue is caused.

What does it shed light on?

It is evident that a major issue in this research would authenticate on the communication gaps. It also hampers the banking functions like irregularity of tracking, fingerprint, retinal scan to prevent others users to access banking information and details. Thus, this issue can be minimized with proper use of defender and a firewall to protect this vital information of Standard Chartered bank. In order, there must be good track of password and securities to prevent hacking.

Rationale of the topic

The researcher has pointed out an issue that would develop the loopholes of synchronized network security in Standard Chartered bank. The major problem faced by Standard Chartered bank is the unavailability of tracking devices that would hamper their information and accounts (Cyber crime, 2012). This would also incorporate by sending harmful viruses that would breakdown the network securities. Thus, with proper availability of resources and using anti-virus software, this blockage can be minimized.

The aim of the research is to assess the synchronized network security in Standard chartered bank, UK. It also regulates to improve the system through proper use of trackers and security devices.

In this research, the researcher has made a fair treaty by initiating network security with suitable objectives that are as follows:

To assess the network securities in synchronizing it through proper firewall devices on Standard chartered bank.

To implement major techniques that would help to synchronize network security devices on Standard chartered bank.

To recommend major practices that would enforce policies and services on network implementation.

The researcher has initiated research questions that are developed through the research objectives are as follows:

How would you assess the network securities to synchronize on firewall devices?

What are the major techniques that would help to synchronize network security devices on Standard chartered bank?

What are the major practices to enforce policies and services on network implementation?

Introduction

This part of the research paper will conclude about the application of different kinds of security system in the banking process. There are several advantages of implementing a technology in the entire banking system. The primary reason is the customers are benefited in several ways (Das et al., 2015). The applications of different kinds of security system have both advantages as well as disadvantages. The customers are benefited in several ways and on the other hand, there are some security issues, which the majority of the bankers face in the daily operations of the baking process. The selected organization in the study is the Standard Chattered. Network security is the highlighted point in the study. The main objective of the study is to investigate the different kinds of security issues in the banking sector with respect with network (Das and Dhar, 2012).

There are certain issues, which the majority of the banking sector faces in the daily operations. Due to the technological advancement, the customers were benefited in several ways. On the hand, there are some security issues, which majority of the bankers as well as majority of the banks faces during the business operations (Faulin, 2013).

Fraud is the primary security issue in the entire Baking Sector. It is one of the major drawbacks in the entire banking sector. There are different kinds of online Banking fraud which needs are highlighted in this part of the study. Electronic fraud is one of the key points in online banking. Email frauds and fake websites are the ultimate two factors, which are responsible for different kinds of online frauds in the entire banking sector (Gladyshev and Rogers, 2012). Number of bankers has been targeted with hoax emails in different parts of the worlds. In order to solve this particular problem different developed have taken different kinds of initiatives in order to conclude the best recommendation for solving this particular problem. Previously, the protocol, which is used in the banking sector for online transaction, was HTTP. In order to increase the security level on the online process different develops concluded the notion of the HTTP(S). The concept of H strands for the use and applications of the security (Grant, 2014).

Problem statement

The notion of the Cyber Crime is another important point, which reflects the security issues of the entire banking sector. It is one of the global problems, which is highlighted in different kinds of online transactions including the entire Banking Sector. It is one of the most fast growing areas of crime. Different kinds of cyber cell branches developed by different countries in order to develop different kinds of strategies to overcome online transactions problems. There are different kind’s cyber crimes in the entire banking sector. Cyber terrorism, cyber extortion, cyber warfare are the different kinds of cyber crime which in the entire banking sector (Gunderson, 2013).

On modern generation, there are different aspects of network securities. The application of internet has provided one of the major breakthroughs in modern generations. There are certain plans and policies which are which are adopted to prevent different kinds of unauthorized access. There are different plans and policies, which are adopted by different organizations in the application process of different kinds of network securities (Huang et al., 2013). Some of the highlighted aspects of the network securities are Authentication, confidentiality, integrity, availability, and non-repudiation. All the mentioned features of the network securities allow the users to carry on different kinds of online transactions in a safer way. Security is one of the most critical and crucial factor in the development process of proper network security (Hynson, 2012).

The first factor, which is highlighted in the study, is the concept of Authentication. In network securities, the process of identifying an individual in the network based on the username and password. Username and password is one of the most crucial factors in the development process of a proper network security. In security system, the notion of the authentication is the process, which allows different individuals in the entire network system to get there access which applying a unique user name and password (Islam, 2014). The entire process allows different individuals to access system objectives based on their identity.

There are certain policies and set of rules in the process of development of a proper network security. Confidentiality, integrity, and availability are the three factors, which are included in the CIA model. CIA Triad is a model, which is designed to guide plan and polices for information securities within a particular organization including banking sector. However, in some cases the CIA model is referred to AIC model (Jorion and Professionals), 2013). The three factors, which are included in the process of AIC model, are availability, integrity, and confidentiality in order to avoid confusion with the CIA System.

Integrity is also an important factor in the aspect of the entire networking system. Integrity in the entire network system is measured in terms of data and network security. Network integrity can be concluded as the controlling the physical environment of the entire networking system in the organization (Kirwan and Power, 2012). There are certain factors, which are included in the process maintaining data integrity. Some of the important factors by which data is threatened are heat, dust, and electrical surges. Different organization enables different kind’s measures in order to protect the data integrity from different kind’s natural hazards.

Research aim

Availability is the final part of the CIA Model. However, it is another significant factor included in the network aspect. The development process of building a strong and secured networking system in the organization will ensure in the process of maintaining a strong availability in the network system. Some of the key factors, which are highlighted in the availability part, are applications of different kinds of modern technology, which will conclude in the fast and smooth secured networks (Kumar and Mittal, 2012).

Non-repudiation is the assurance in the network system, which cannot be dined. In order to ensure ability in the networking system is known as the notion of Non-repudiation. In the communication process, there are different kinds of strategies, which are followed by different organizations in order to develop a key and a fundamental security in the entire networking system (Land banking, 2011). It is one of the most significant assurances, which someone cannot deny on something. The meaning of repudiate means to deny and on the other hand, the meaning of non- repudiate is the reversal of repudiate.

These are the key aspects of the network securities, which every institution needs to follow including the banking sector to organize a secured network in different kinds of online process.

These areas of the study will highlight the different kinds of cyber crime takes place in the Banking sector. A crime is an unlawful activity, which is measured by the issue of occasion. Cyber crime is measured by digitally doing different kinds of frauds. Cyber crime is more in case of different kinds of baking as well as financial sector (Lopez, Huang and Sandhu, 2013). In the era of globalization different companies gets the opportunity to organize business and trade beyond the local boundary (Masamila, 2014). The contribution and the technological towards the development process of the banking sector are remarkable. With the help of the help of the technological advancement, the entire banking sector provides different kinds of additional facilities to their clients. Internet Banking, Credit Card Facilities, Debit card facilities  and online transfer  of  fund without any geographical boundary are the most important and advance features of  banking which  the entire banking sector provides to  its  customers. As it is very much familiar, that the mentioned facilities in the banking sector are very much beneficial for the customers, but it also has certain evil sides in the process. Online frauds, hackers, and thefts are the evil sides of the online baking (Mellado, 2013). They make misuse of such facilities by hacking banking sites and server and customers account to make robbery of money.

Some of the key baking cyber crime includes credit card frauds, Email frauds, and Hacking and Financial frauds. Hacking is the unauthorized way of getting access in different accounts and in different servers (Moga et al., 2012). The maximum credit card frauds take place in online transactions. In order to solve this particular problem, the developers need to develop a secured process by restricting the hackers from stealing the credit card number by the hackers. The point, which is highlighted in the study, is the concept of Email Frauds. Email is one of the most common and easy mode of communications. Different types of banking frauds are done with the application of different kinds of emails, which manly concludes about different kind’s offers and promotions. Phishing is another point, which is included in the notion of the cyber crime.  Financial fraud is the last highlighted point in order to conclude the different kinds of cyber crime related to the banking sector (NovickytÄ— and Pedroja, 2014).

Research objectives

Different developers have developed different kinds of securities in order to protect different users from different kinds of frauds. Depending upon the demographic conditions of the country different kinds of securities developed by different researchers in order conclude the best securities for the users. Some of the measures, which are concluded, are SMS Alert Facilities, Users Awareness programs, password encryption, and virtual keyboard, secured socket layer and short message service alerts (OECD banking statistics, 2012). These are the key initiatives which majority of the developers focuses in order to increase the network security. These are the most crucial part in which the banking sector needs to focus on the development of network security. Security is the only drawbacks, which hampers the process of different kinds of online transaction in the overall financial sector including the banking market. In order to battle with these particular cyber crimes different banking sectors needs to develop a team with worldwide powers in order to create a proper model, which will help in controlling different kinds of security issues (Paliwoda, 2013).

This part of the study will reflect the top three benefits of adopting networking securities in the banking sector.

Peace of mind is the primary factor, which is highlighted in the development process of proper networking securities. Cyber crime related to banking sector is one of the major drawbacks related to different kinds of online tractions. A few sections of the users are feared in order to carry on different kinds of online transactions due to several security issues of getting fraud (Patel, 2012). If these particular groups of users get full assurance of 100 percent security, it will help majority of the online users to develop a peace of mind. It will automatically increase the number of online transaction process.

Lack of network security hampers the entire flow of productive. There are certain groups of customers, which mainly fears of getting frauds by adopting the notion of online tractions. As a result, it hampers the entire productivity (Plunkett, 2011). If all of the users are fully satisfied with the security system of different kinds of online transactions, it will ensure 100 percent fraud free transactions, and then different applications of online transactions will take place.

The third highlighted point in the study will conclude about the compliance of developing a proper networking security in the entire banking sector. Every company has certain rules and regulations towards the organizational process (Raheem, 2014). It is easy to see how network security can lift a huge burden from shoulders and improve company process.

There are certain advantages of different kinds of network models (Raheem, 2014). Majority of the business organization including different kinds of baking sectors are Speed, Cost, Security, Centralized Software Management, Resource Sharing, Electronic Mail, Flexibility Access and Workgroup computing are the key features of adopting the notion of different kinds of networking securities in the organization.

Speed is the primary reason for developing a proper network structure in the baking structure will allow the organization to shares files and different kinds of documents within the network and by maintain a rapid pace (Smith, Walter and DeLong, 2012). The ultimate objective of developing a proper networking security in the organization will result in time saving. Thus, it will allow the organization to save time, while marinating the integrity of the file.

Research questions

Cost is the secondary factor, which are highlighted in the process of development of proper network securities. It allows different banking institutions to reduce the operational cost of the organization by reducing work force in the organization (Subrahmanyam et al., 2014). If the majority of the organizational operations are developed and done by, implementing a proper network, it will automatically allow the organization to reduce the cost of the operational activities.

 All the files and the folders under the security, stays password protected. It is one of the most significant and the crucial system, which the majority of the banking sector is benefited by applying network in the organizational plans and operations.

The application of network in different banking system will conclude in the development process of a centralized network.

With the help of implementing different kinds of network models towards the operational procedure, will conclude about sharing different kinds of organization resources sharing. Resources of different organizations are limited (The Study on Criminal Jurisdiction of Cyber Crime, 2012). By applying the concept of the resource sharing in the organization, will ensure the organization to ensure in the process optimum utilization of resources (Xin and Xiaofang, 2014). The concept of optimum utilization of resources will ensure different organization to reduce the cost of the organizational plans and activities. Some of the important resources of the organization are printers, fax machines, and modems, which are shared in the organization with the help of developing a proper networking structure.

Official and Domestic mail: In the development process of the proper network structure in the banking environment, it allows the organization to develop an interconnected domestic network within the organization (Alvesson et al., 2013). It will help the organization to develop a proper communication system in the entire organization. It provides an additional advantage of E-mail aids in personal and professional and professional communication in the organization. The application of electronic mail in LAN (Local Area Network) will allow all the organization to develop a proper communication system in the organization.

Flexible Access: By implementing s proper network structure in the organization, it will allow the organization to maintain an entire flexible structure in the organization. It will allow the organization to maintain flexibility in the organization .

There are certain disadvantages towards maintaining a proper security structure in the organization. Server faults can conclude in losing different kinds of confidential and private data. One of the major points, which can be concluded in the entire organizational structure, is the concept of hackers. It is the only drawback, which can be concluded in the applications of modern technology in different kinds of online tractions including the concept of online banking. Resources could be located to far from the users. It is an additional disadvantage, which can be concluded in the application of different kinds of network securities in the organizations. Network fault could also conclude in the loss different kinds of resources in the organizations (Antoun de Almeida, 2015).

There are certain measures which are which concludes the concept of network security in any organization (Bayu and Mostashari, 2012). The concept of mechanism is same in case of banking network securities. The objective of the entire security mechanism is to implement as many security mechanisms in order to conclude about the best possible security as required by the organization. Some of the specific areas, which need to be, developed in order to enhance the network security in the entire banking sector.

Literature Review

The concept of Encipherment is a security key, which is developed by different kinds of network admin in the process of communication. Encrypting and decrypting communication are the two key features, which are used in the process of the Encipherment. It is one of the significant security mechanisms, which majority of the banking sector uses in order to develop a strong and secured network system in the data communication process (Benjamin, 2012). 

The concept of the digital signature is known as the notion of the electronic signature. It is an additional key mechanism which majority of the banking sectors is benefited in order to assure the genuineness of a digital document. Documentation is one of the most crucial parts in the entire banking sector (Biddle & Emmett, 2012). All the data and information in the network system of the banking sector are very much crucial and confidential as it contains all the necessary and confidential information of the customers. Digital Signature ensues 100 percent protection for all the data in the banking sector from different kinds of frauds by maintaining a strong and a proper networking security (Boyd & Simpson, 2013).     

The notion of access control allows the users in the banking system to follow a set of rules and regulations towards maintaining the confidentiality of the data base systems (Bragg, 2013). The basic objectives towards developing a proper access system in the organization are to ensure all the workers in the banking system to give accesses with specific permissions. It will allow the organization to develop a strong network security structure.

The concept of data integrity is to ensure that all the data in the server are protected and unchanged (Chandra and Sharma, 2013). Data Integrity is equally important for every organization whether in a small-scale organization or in a large-scale organization and whether a government organizations and a non-government organization.  

The ultimate objective of every organization is to develop a proper network system in the organization, which will ensure in fast communication resulting in the efficiency in the smooth flow of work (Durenard, 2013). The exchange in the communication system ensures in the process of authorization. Authorization is one of the key elements in the entire authentication process.

In an organization, there are several data. The objective of the traffic padding is to ensure what is legitimate data and what are the false data in the organization.

The objectives of the routing control are to specify a path in the communication system of the organization. The concept of virtual private network plays a significant factor in the development process of a proper network security in the organization (Fiorito, Scheall, & Suprinyak, 2015). The concept of the virtual private network allows different organization to develop a private communication channel by using internet. It enables both the senders and the receivers to share data in the public network privately. The entire VPN Network is established by adopting point-to-point secured network system. The three important factors which in the process of developing a strong and a proper point to point connection are virtual tunneling and traffic encryption. One of the main objectives of developing a routing control with the help of VPN will allow the banking sector to connect geographically separated offices of the organization by maintaining a strong and proper level of security in the organization (Gilbert, Kirkilionis & Nicolis, 2013). 

The concept of Notarization is known as the official documentation plans and procedure. Proper documentation is very much important in every organization (Jagodzinski  & Wallin, 2013). The objective of this particular point is to organize a proper documentation process, which will allow the organization to maintain a proper process in this particular operation.

This part of the assignment will highlight all the important factors, which towards the development process of Synchronized Network Security Model in the banking sector. The highlighted points towards the development process of a proper networking security model are Sender, receiver, communication line, and trusted third party. All the factors of the network security model have different kind of utilities. Sender is the person who sends information to the receiver. Receiver is the person who receives information from the senders (Jin, Joshi & Anwar). Communication line is the third factor, which is mainly responsible to encrypt and decrypt data in the communication system in the organization. The forth factor which is highlighted in the Synchronized Network Security Model is the trusted third part. Trusted third party is who distributes the secrete key and information between the two parties which will ensure in the process of secured communication in the entire network.

The ultimate objectives of every network security model is to perform a set of rules which will allow to have two parties to communicate with each other without any other parties being able to read and understand the information being sent in the network channel.

Some gaps are intended in this research to get a definite feedback from the employees of Standard chartered bank of UK. Due to some reasons, the researcher could not look at the problems that seem to be convenient in this research. The models evaluated in this topic are empirical to evaluate with a proper hypothesis but synchronizing the networks by bank securities may be a difficult one. The reason is due to the involvement of cybercrime and other content activities involved in the merger of Standard Chartered bank (MacLellan Margolis & Litner, 2013).

There are different kinds of network security models, which are used by different business organizations in order to develop a proper network security service in the organization. The application of different types of network securities in the organization will ensure a protected working environment (Manifavas, 2016). The following part of the study will conclude about the application of different kinds of network securities in the banking sectors.

Media Access Control is a unique address identified which is assigned to different kinds of network interfaces in order to develop a proper communication system in the organization. MAC address filtering is one of the best possible options to develop a proper security service in the organization. Sometime it is known as Ethernet hardware address. This is a unique address, which enables different network admin to develop a strong filtering process in the entire network system of the banking environment (Mara, 2013).

Authentication is one of the significant aspects towards the development process of a proper network security in the banking environment. There three ways of authentication process, which are used by different banking, sector in order to develop a strong security system in the organization. One way authentication process, two way authentication process and three way authentication process are the most applicable authentication process which bulk of the administrator develops towards the development process of a strong networking  security in the banking environment (Markose, 2012). Out of the three-authentication process in the network securities, the most accepted authentication process is three way authentication process. The concept of three way authentication process will allow all the users to follow three layers authentication process in the organization.

The concept of the firewall is another additional feature, which are included in the development process of a proper security service. The objective of a firewall is to develop proper network traffic by analyzing the incoming and outgoing data packets by applying a proper set of rules and regulations in network process (Mei, 2013). One of the most significant points of applying the concept of firewall in the entire security of the banking sector will ensure the organization to maintain a record of the ingoing and outgoing security packets. The concept of the firewall protection is limited by nature. The application of different kinds of firewall towards the development process of a proper networking security is very much significant.

In the era of globalization, every single organization uses a computer and the network system to conclude about the best possible business operations. The notion of the network security affects the proceedings of every organization. Whether it is a large organization or a small organization and weather it is a government organization and non-government organization, the application of the network security is equally important and significant in the operations of all the organization (Mitchell & Jolley, 2013). It the entire network security is harmed in the organization it can lead to different kinds of negative impacts in the organizations. This is the primary reason why the network managers of every organization need to be aware about different kinds of network problems in the organization. It is very much important and significant for the organization to focus on security particularly when the network contains different kinds of sensible and confidential information about the organization (Richa & Scheideler, 2012). In case of the banking, sector there all the data, which are available in the entire network confidential it contains all the personal information of the customers.

The entire literature review section is divided into several sections. The objective of the study is to conclude the readers what are the different applications towards developing a proper network infrastructure in the banking sector. There are several theories and models, which are concluded in the entire investigation process in order to develop a strong literature review of the selected topic. There are certain advantages towards developing a proper security based networking system in the entire banking sector. The concept and application of different kinds of cyber crime is also highlighted in this part of the study. It is one of the most growing crimes in the cyber world.

In this chapter, the researcher will observe various aspects of the research by conducting the methodological outline through a successful manner. This would be interpreted with the help of successful evaluations in analyzing the data through specific calculations under a statistical format. The researcher has also initiated techniques and strategies that will fulfill the objective oriented outcomes. In order, the researcher has intended various types of philosophies, approaches, designs, and strategies to penetrate the research effectively. Moreover, the researcher has provided relevant information through primary data collection method to make a resistance of the validated research (Rossi & S Bertone, 2013). The purpose of the research is to implement other probability techniques that would be suitable under the value of research propositions. In addition, the researcher has intended a time horizon to deduce the relation among the employees and managers of the topic taken (Rountree, 2012).

Research philosophy is defined as a belief that is analyzed and gathered in a phenomenal way. There are four types of research philosophy. This would include Positivism, Post-Positivism, Realism, and Interpretivism. In this research, the researcher has taken Positivism research philosophy because the researcher did not found good availability of time and the budget was very low (Salaberry and Comajoan, 2013). It is seen that one of the prime areas of Positivism includes ability of the research to minimize possible errors. It is also seen that information based research can be evaluated in a successful manner. Positivism includes variability of the research by making an assumption through an empirical foundation. It suggests that predictions can be observed by applying remedies and other constituents of the research without facing any type of difficulties (Smith, 2013).

The researcher has also given a proper justification to make an impact on assessing synchronized network securities in a banking environment. It is essential to make an assumption on making presentations and minimizing probable errors in a research. Now, to look on the other aspects of research philosophies, the researcher has taken Interpretivism that would acknowledge the research scientifically (Summe, 2012). In order, Realism defines a mixed philosophy of Interpretivism and Post-Positivism. Thus, Positivism philosophy deals with the factual knowledge of the research that is gained with scientific results and other relationships through a positive attitude.

Research approach comprises of two types. This includes inductive and the deductive research approach. It is seen that deductive research approach provides an outline of the research from the chosen philosophy taken initially (Tamura, 2012). This would also provide active participation of the members that would accumulate by collecting specific data through relevant theories and models. On the other hand, inductive research approach would be concerned with the application of models and theories in a more established manner. Thus, for better understanding, the researcher has chosen deductive research approach that would be helpful to make an establishment under the research event.

To give a good justification of the research, the researcher has intended gaps that clearly demonstrate the permissible areas of the work theorem. Due to low budget and restricted time, the researcher was unable to develop the theories and frameworks with the emerging data. Thus, the researcher did not choose inductive research approach. Moreover, the researcher has developed a gap that would assist a general perspective by the application of data and other areas by deductive phenomena (Thampi, 2012). On the other side, inductive research approach provides a generalized area in developing models and theories.

Research design provides an opportunity to evaluate the topic in an elaborative manner. Research design includes four types. This involves Descriptive, Correlation, Explanatory, and Exploratory research design. In this research, the researcher has chosen descriptive research design to evaluate with new concepts and ideas.

To give a justification of the research, the researcher has intended descriptive research design that would analyze the research issue in providing an explanation regarding the topic various perspectives and angles in an accurate manner. The researcher has also described the validity of the research by taking explanatory research design (Venkatakrishnan and Goswami, 2012). It involves active participation of members by answering the questions rather to solve the problem in a more appropriate manner. On the other hand, exploratory research design focuses on the research issue that is not identified strategically. During the course study, the researcher has chosen descriptive research design that has a good understanding for the betterment of the topic. In order, descriptive research design would allow the researcher in gathering primary and secondary data sources to prevail the study (Watkins, 2013).

The research strategy would also give an outline for carrying out the research work throughout the process. It is seen that there are various case studies, focused groups, interviews and survey strategies that would assist the research work in making it effective through a proper manner. However, proper data collection is an important aspect for the cultivation of research work (Wolf-Knuts et al., 2013). It is done with valuable information that assesses the importance of the topic. In this research, the researcher has chosen interviews and surveys that form a valuable intervention of the topic.

It is also observed that focused groups forms a qualitative part of the research foundation. It has various opinions, beliefs and a thinking perspective of the topic intended. Case studies focus a major part of the topic that is explored on a wide framework by providing valuable information. Moreover, the survey procedure allows the researcher to gather valuable information from the research through a statistical format. The researcher has given a justification that would assist the topic to improve the quality of work frequently. It is seen that researcher has conducted survey strategies because it would have a good ability to make proper form of questionnaires among the respondents. However, the application is based with interviews and surveys that would help to make beliefs and perceptions rather than to focus on the concrete research work.

This process is done systematically by applying statistical and logical techniques that would describe the evaluation of data.  It is seen that there may be various analytical procedures that are associated to draw an inductive interference of the data. It also distinguishes phenomena of a major interest and other statistical fluctuations that represent the presentation of data. It is also intended that data analysis in qualitative research include statistical procedures that would be continuous and simultaneous. Researcher has also performed observations that would be determined by the analysis of qualitative research method (Yu, 2013). Thus, an essential component of ensuring data integrity would assume through research findings, statistical analysis and other perception of the research. However, some considerations need to be balanced with proper remedies. This includes reliability and validity, environmental issues, presentable data, training, and other areas (Kirwan and Power, 2012). It is ensured that a common practice of the researcher would make an analytical procedure. Thus, this would make a better purpose in analyzing the topic with objective oriented outcomes. In order, this would supervise the staffs in conducting the data analysis with informal decisions. Hence, the significance of data analysis would clearly define on the common challenges that include developing graphical representations, changing data, data mining, etc.

The researcher has taken primary and secondary data analysis to make an understanding on the research study. This will involve various concepts and ideas that would make it relevant to the research work. Primary data collection method involves quantitative and qualitative data collection method (Jorion and Professionals), 2013). On the other hand, secondary data collection method would be illustrated with the help of books, magazines, journals, newspaper, websites and other references. In this research, the researcher has taken primary data collection technique that will help to evaluate in an effective manner. Since, primary data collection involves quantitative and qualitative research. Therefore, execution of quantitative data collection method will have a need of understanding the variability of the research. This will also relate with the help of possible outcomes in making the research study appropriate. Moreover, the inclusion of inappropriate variables may influence overall outcome of the research in a definite manner. In order, the independent variables would signify well in making the topic contrasting whereas the dependent variables would also signify the overall purpose of the topic by aligning a definite area of the quantitative research. Thus, this would make signify the topic by assuming the ratio, measurement scale and intervals in an effective way. A quantitative research method is initiated by developing questionnaires among the major respondents by giving them a list of options to choose between them (Kumar and Mittal, 2012). On the other hand, a qualitative research method is analyzed with the help of managers by conducting interviews, telephonic calls and via chats.

The researcher has made periodic liabilities that analyze the topic with critical aspects of quantitative research. This would summarize the topic in making an evaluation with key perspectives of the topic. Moreover, the analytical procedure shows a good relevance in making appropriate outcomes with the help of the research study. Since, the perspective of the research study will analyze synchronized network security in banking environment (Masamila, 2014). This would form a statistical analysis to interpret the results through tabular forms, pie charts and other graphical representations. However, the researcher has assisted content analysis approach to enhance the quality of the research authentically through objected oriented outcomes.

Validity is an extent of the research that is done with a variable conclusion and measurement of the data. The validity also measures an accuracy of the research by making strategic conclusions and conceptions. Validity is an important aspect because it determines the type of tests researcher has used. It also underpins an ethical perspective by making a suitable judgement of the research territory (Yu, 2013). On the other hand, reliability refers to the ability of a component and system that is desired with a periodic ability of time. It is seen that reliability produces similar results that are developed under suitable conditions. Reliability includes degree of agreement on Inter-related state, test-retest state, Inter-method state and Inter consistency among the individuals. This will form general characteristics of an individual on specific tasks, techniques, attention and accuracy.

Sampling method is divided into two types. It includes Probability sampling method and Non-probability sampling method. A probability sampling method defines a method of utilizing random selection of data. This would include various types of procedures and processes that are different from the population unit (NovickytÄ— and Pedroja, 2014). On the other hand, non-probability sampling method random selection of data and in this case, sampling does not occur. The researcher has taken non-probability sampling method to make a relation on the rationale of the topic demonstrated.

Sample size is defined as the number of respondents that are required for executing the research study in a probable manner (Patel, 2012). The researcher has taken 50 employees and 4 managers of the banking environment of Standard chartered on the network security implementation. This involves with periodic options that would set up the quality of the research successfully.

The researcher has demonstrated time horizon through a tabular structure that is depicted below:

Activities involved	Week 1-3	Week 3-6	Week 6-9	Week 9-12	Week 12-15	Week 15-18	Week 18-21	Week 21-24
Selection of the  topic	ü
Secondary data collection techniques	ü	ü	ü
Literature review		ü	ü	ü
Technique of Research selection			ü	ü	ü
Primary data collection technique					ü	ü
Data interpretation and analysis						ü	ü
Developing a suitable conclusion							ü	ü
Formatting								ü
Submission								ü

Table 1: Gantt chart

The prime responsibility of the researcher would pay proper attention to make ethical issues during the course work. In this research, data and information would be gathered with personal use only (Raheem, 2014). However, no information would have an application for commercial purpose. In order, the respondents would have a good participation in their work perspective. The respondents would make application criteria that would set up their identity and personal information. In order, the researcher would comply on the rules and regulations that help to implement Data Protection Act in a successful manner. Thus, there would be no involvement of any external force while conducting the research study.

In this chapter, the researcher will look at the primary data collection method to vary with questions through Quantitative and qualitative research methods. This will make an analytical preview by use of tables and figures by asking questions to the major respondents of Standard chartered bank.

Question 1

What is the age group of major employees in Standard chartered bank, UK?

Options	Number of respondents	Frequency (%)	Total number of respondents
Below 25	12	24	50
25-35	18	36	50
35-45	10	20	50
45-55	5	10	50
Above 55	5	10	50

 

Figure 1: Age group of major employees in Standard chartered bank

Question 2

What is the frequency of male and female workers in Standard chartered bank, UK?

Options	Number of respondents	Frequency (%)	Total number of respondents
Male	31	62	50
Female	19	38	50

 

Figure 2: Frequency of male and female workers in Standard chartered bank

Question 3

How far have you been satisfied with the working environment of Standard chartered bank?

Options	Number of respondents	Frequency (%)	Total number of respondents
Strongly satisfied	22	44	50
Satisfied	12	24	50
Neutral	5	10	50
Dissatisfied	1	2	50
Strongly dissatisfied	10	20	50

 

Figure 3: Working environment of Standard chartered bank

Question 4

How far do you agree that employees of Standard chartered bank synchronize better network facilities?

Options	Number of respondents	Frequency (%)	Total number of respondents
Strongly Agree	7	14	50
Agree	5	10	50
Neutral	12	24	50
Disagree	16	32	50
Strongly Disagree	10	20	50

 

Figure 4: Synchronizing better network facilities with the employees

Question 5

To what extent do you agree that assessing network securities would bring some changes in the banking sectors?

Options	Number of respondents	Frequency (%)	Total number of respondents
Strongly Agree	15	30	50
Agree	12	24	50
Neutral	13	26	50
Disagree	15	30	50
Strongly Disagree	5	10	50

 

Figure 5: Assessing network securities to bring some changes in the banking sectors

Question 6

According to your perception, how would you rate on the network facilities of Standard chartered bank?

Options	Number of respondents	Frequency (%)	Total number of respondents
Excellent	11	22	50
Good	10	20	50
Average	10	20	50
Satisfactory	6	12	50
Poor	13	26	50

 

Figure 6: Rating of the network facilities of Standard chartered bank

Question 7

What are the loopholes of Standard chartered bank on contrast to network securities?

Options	Number of respondents	Frequency (%)	Total number of respondents
Laptop encryption	13	26	50
Anti-theft solutions	12	24	50
Bad Social network securities	15	30	50
No WIFI network securities	15	30	50
Content filtering	5	10	50

 

Figure 7: Loopholes of Standard chartered bank on contrast to network securities

Question 8

Which are the factors that would plan to synchronize better network facilities in Standard chartered bank?

Options	Number of respondents	Frequency (%)	Total number of respondents
Developing firewalls	15	30	50
Active Directory server hostname	12	24	50
Duo Authentication Proxy	12	24	50
Cloud security	6	12	50
Others	5	10	50

 

Figure 8: Factors to synchronize better network facilities in Standard chartered bank

Question 9

What are the necessary recommendations that would apply a proper base on network security implementations of banking sector?

Options	Number of respondents	Frequency (%)	Total number of respondents
Introducing a high level security	7	14	50
Developing a user ID and a password	12	24	50
Putting surveillance cameras	6	12	50
Performing PC security checks	5	10	50
Fingerprint sensor	20	40	50

 

Figure 9: Recommendations on network security implementations of banking sector

Question 10

What types of observations are found if proper synchronizations are not done in Standard chartered bank?

Options	Number of respondents	Frequency (%)	Total number of respondents
Cybercrime	22	44	50
Data loss	10	20	50
Wiretapping	5	10	50
Buffer overflow	6	12	50
Smurf attack	5	10	50

 

Figure 10: Proper synchronizations in Standard chartered bank

Question 1

How would you observe that network securities have synchronized effectively on firewall devices?

Question 2

What are the practices that implement policies and services among the major employees of network securities?

In this chapter, the researcher will analyze the questions by interpreting results with proper discussions. This will highlight the study by making an interpretation from the above chapter from the tables and figures demonstrated by the researcher.

Answer of question 1

It is observed from question number1 that there is a feeble gap in the major age groups of employees in Standard chartered bank. It is evenly distributed that those who are below the age groups of 25 have a percentage of 25% and those who fall in the category of 25-35 evolves 36%.  Therefore, it is seen that the youth individuals are associated with the Standard chartered bank more than the aged. Now, the comparison comes when we see distribution gap of age groups 35-45 as 10% whereas those who fall on 45-55 evolve as 10%. Moreover, it is seen that those who fall on the age groups above 55 evolve as 10%.

Answer of question 2

In this question, the researcher has observed differences of frequency of male and female workers in Standard chartered bank. It is observed that frequency of male workers is more because the balance shows that out of 10, there are always seven male workers employed in every banking sector. Moreover, the territory of this research shows that network securities must be developed with proper use of materials and these can be synchronized with the help of male workers. Thus, it is seen from the tabular representation that the percentage of male workers employed in Standard chartered Bank in UK is 62% whereas the female workers employed is just 38%. Hence, it can be justified that gender is one of the most important factor in banking sectors.

Answer of question 3

It is observed from question number 3 that a survey analysis is made on the satisfaction of employees in Standard Chartered bank. The employees those are strongly satisfied in the working environment of Standard Chartered bank involve as 44% whereas those, which are satisfied evolve to be around 24%. Thus, a comparison is made between people who are strongly satisfied and those who are satisfied. It is intended that those employees that are on the neutral side are just 10%. Moreover, it can be initiated that employees that are dissatisfied evolve to be just 2% while those employees that are strongly dissatisfied are 20%. Thus, a drift is seen among the employees those who are satisfied and those who are strongly dissatisfied. However, the question reminds that if most respondents in a working environment are satisfied, then there will be a balance on the network securities of banking environment.

Answer of question 4

It is intended from question number 4 that Standard Chartered Bank have better synchronization network facilities than other banks but yet some hacking is done by breaking the code. Now, the researcher has given an interpretation from the tabular representation that the employee those are strongly agreed evolve as 14% whereas those respondents which are agree evolve as 10%. The neutral areas contribute to the fact that around 24% employees falls on this category. On the other hand, it is seen that those people who disagrees on the synchronization facilities of network security facilities evolve as 32% whereas those employees that strongly disagrees evolve to be 20%. Thus, it can be initialized that most employees do not agree that synchronization facilities have improved network securities of Standard Chartered Bank.

Answer of question 5

The researcher has observed that new technologies or better synchronization facilities will bring major changes in the banking sectors, especially Standard Chartered Bank. In this question, the observation of researcher has developed a mean position that needs to be assessed with proper devices. The employees that strongly agree that assessing network securities will bring some changes evolve as 30% whereas those respondents that agree evolve to be around 24%. The neutral venues of developing network facilities to be around 26%. On the other hand, it is initialized, those respondents disagrees that network securities will bring some changes on major banks evolve as 30% whereas those respondents that do not at all agree (Strongly Disagree) evolve to be just 10%. Hence, it is regulated that opinions of employees vary on positive as well as negative area. Thus, there must be right implementations of services done in every banking sector.

Answer of question 6

In this question, the researcher has predicted about the perception of network security facilities of Standard chartered bank that how the rating has given overall. To be fair enough about the research content, the idea demonstrated by the researcher has reached to a position where it has seen network securities has not implemented the systems well. Now, from the tabular representation, it could be stated that frequency of excellent level of network services is around 22% whereas the good section evolve as 20%. Thus, it can be said that some way more or less employees of Standard chartered bank think that network securities are well observed. On the other hand, the frequency of average level evolves as 20% and the satisfied respondents feel around 12% on proper implementation of network securities. However, the respondents that think that no change has been done include to be around 26%. Thus, it is observed that around 75% respondents think that proper implementations are done to settle the networks but there is always a concern about synchronizing better facilities.

Answer of question 7

In this question, the researcher task would be to analyze the loopholes of Standard chartered bank with respect to the network security implementations. It is inspected from the tabular representation from chapter four that laptop encryption is one of the major factor that hampers security solutions in major banks. Hackers convert the data into coding format and take all the information related about the finance and accounts. It is observed that this evolve around 26%.  On the other side, lack of anti-theft solutions is also a major area that should be improvised to keep security solutions intact. This involves around 24%. There are other factors like improper social network securities, which are attached everywhere for interaction with people. This occupies around 30%. Thus, this factor is a major concern, which should be minimized for better network facilities. Moreover, it is observed that internet problem has hampered the banking sectors frequently because there is no track of WIFI passwords and hackers can easily break the code and receive important information easily. This loophole evolves to be around 30% and the other side is low content filtering which evolve as 10%. To keep proper use of networks, there must be a filter in every network that no other user can track the network easily.

Answer of question 8

In this question, the researcher has initiated factors that would keep better network facilities on Standard chartered bank. The factors the researcher has observed are assumed relevant but there may be always a chance to break the barriers. The researcher has developed firewalls on banking environment to keep the accounts and other records intact. This area evolves to be around 30%.  On the other side, there should be active directory with server hostname to guide the network framework of every user. This involves around 24%. Besides, there should be a duo authentication proxy, which evolves to be 24%. This will build a layer to the user’s ID where he/she must login twice to open the securities and other finance records. Moreover, there must be a cloud security, which occupies a percentage of 12%. This will keep the network securities under a protected layer where no one can use it without proper authentication and password.  However, there are other factors, which will help to keep better network security facilities intact in Standard chartered bank is around 10%.

Answer of question 9

The researcher will now look at the necessary recommendations that play an important role on keeping the base of network securities intact on Standard chartered bank. Introducing a high-level security plan would configure better synchronization on the Standard chartered bank. This evolves around 14% whereas developing a user ID and a password will set up good. Every time the users want to open the accounts and other finance records, he/she should have to put a password. In order, the researcher would put in every corner of banks surveillance cameras that would restrict track of unknown people entering to banks. This factor occupies just 10%.  Moreover, there must be performed security checking of every user’s PC to avoid any type of errors or cache in the network. This factor occupies just 10%. In addition, there must be fingerprint or face scanner to avoid any default on banking environment particularly. It evolves to be around 40%. This is a prime concern because there are frauds that enter to banks easily to break the system securities. Hence, these recommendations should be maintained well enough to prevent any mishaps in Standard chartered bank.

Answer of question 10

In this question, the researcher has observed a phenomenal attribute of Standard chartered bank on network securities. It is observed that if proper synchronizations are not done properly, then the network will be hampered. The observation found by the researcher is that cybercrime is one of the main areas, where a person can hack network securities in a point of time. This evolves as 44% overall because of the extreme cases seen due to lack of proper implementation of network resources. On the other hand, there is also data loss due to unavailability of network and lack of proper synchronizations. This occupies a percentage of 20%. Moreover, there are areas like wiretapping and buffer overflow, which occupies a percentage of 10% and 12% respectively. In addition, Smurf attack consist a percentage of 10%.

Answer of question 1

The researcher has observed a territory to see how network securities have synchronized firewall devices on Standard Chartered Bank. As laid by the second manager of Standard chartered bank that there will be technologies to advance the resources in coordinating with security incidents. Moreover, the security heartbeat has made real time information to link on the malicious activities of intelligence and firewall programs. However, as revisited by the third manager of Standard chartered bank, the IT organizations have accessed benefits to avail threat protection capabilities that require additional layers without losing the firewall of the banking environment.

Answer of question 2

As intended by the first manager of Standard chartered bank, there are security policies that would comprise rules and regulations in implementing on network securities. The security policy would make a gap that forms a bridge among the staffs, managers and users of the company. It also provides an interface to communicate with the people that have a network security password. Moreover as laid by fourth manager of Standard chartered bank, there are reasons that would provide a baseline to form an alliance of the security components. It would be acceptable if the network protects the user from invalidated information and authorizing information from its consequences.

Conclusion and recommendations

The concluding part of this particular research paper is to summarize all the important points, which are analyzed properly. The highlighted point is the application and development of different kinds of security in the banking network system. The selected organization in the assignment is Standard Chartered Bank. Standard Chartered Bank is one of the most common global financial institutions, which operates its business across the major cities of the globe.

In the era of globalization, every single organization developed its business structure based on information technology. There are several advantages in the process of development of a proper Information technology based banking system. On the other hand, there are certain evil sites of adopting the process of Information Technology in the development process of the banking sector. Security is one of the key issues, which majority online transactions face including the banking sector. The purpose of the study is to reflect the entire crucial factor, which concludes the proper development process of different kinds of networking securities in the organization.

The researcher in the application of this particular research work has done an incredible job in order to complete the entire investigation procedure in time. The investigator in order to support the entire investigation procedure with effective data and findings has used accurate research methodologies in the operations of the investigation procedure. The most crucial part in the entire investigation procedure is the application of the data collection techniques. The investigator in the operations of this particular research work mainly focused in the process of primary data collection and primary data analysis. Depending upon the objective of the investigation procedure the researcher has decided to use both qualitative and the qualitative method of data analysis.

The forth chapter of the investigation procedure concludes about the data analysis part. By maintaining the ethical consideration, the investigator has done a brilliant towards the development process of the data analysis plans and procedure. All the collected data helped the investigator to conclude the investigation procedure in the best possible manner on time.

Network Security Designs

Different banking sector needs to organize a proper network security design based on the requirements of the organization. Some of the most crucial factors which need to analyze by the organization keeping in mind the requirements of the management. Identifications of the network assets are the primary factor, which needs to be analyzed in order to develop a proper network security design. The second step is to analyze the security risk, which might take place in the organization. Security risks are always there in the different organizations. Different financial institutions must develop a proper security system in the organization. Security plans and policies is also an additional factor, which are included in the process of development of Network Securities. The final point, which needs to be concluded, is the implementation process of different kinds of security procedures. Testing and maintaining the entire security service is the final option which majority of the banking sector needs to conclude in the operational plans and proceedings.

The first which different banking organization needs to perform towards the development process of a proper networking security is to analyze the requirements of the organizations. The plan will specify all the required security policy and technical implementation of the security plan. The plans must be developed based on the requirements of the organization and keeping in mind all the rights of the customers. Majority of the financial institution follows almost the same security plan as the objectives of all the financial institutions same.

The banking institution in the study, Standard Chartered needs to develop a proper controlling and maintenance system in the organization. Developing a proper maintenance system and a proper controlling system in the organization will ensure in the development process of a proper security plan in the organization. The banking system needs to develop a proper security system by maintaining proper-scheduled audits. Developing a proper controlling system in the organization will ensure the management to organize a proper security monitoring process. The controlling process of a proper networking security in the organization will ensure the management to link between the planned performances with the actual performance. If any deviations takes place in the organization respective measures needs to take in order to being back the actual performance with the planned performance.

This is one of the most crucial points, which needs to be analyzed in a proper manner. There is continuous advancement in the technological process. It needs to be updated in a proper manner. The current financial institution needs to perform continuous development activities in the entire security of the organization, which will help the organization to keep the entire security service updated.

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