Cybersecurity Risk Assessment for Online Transactions

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10 Questions

What is the primary focus of the risk assessment strategy in software development, and why is it crucial?

The primary focus is on high-impact areas that could have severe repercussions, such as unauthorized access or privacy breaches. It's crucial because it helps mitigate risks before the software is released or updated.

What is the rationale behind selecting test cases for transaction failures, and what is the potential impact of such failures?

The rationale is to test the highest risk areas to mitigate risks before release. Transaction failures can directly affect the core functionality of the app and user trust, leading to potential losses or reputation damage.

How do you validate the security and privacy of chat sessions in a customer support chat, and what is the potential impact of misinformation?

Validate the security and privacy of chat sessions by assessing the accuracy of automated responses and ensuring the security of chat sessions. Misinformation can lead to potential financial loss or customer misguidance.

What is the purpose of simulating network failures and server errors during transaction processes, and how does it mitigate risks?

The purpose is to test the resilience of transaction processes in the event of failures. It mitigates risks by identifying potential vulnerabilities and ensuring that transaction rollback mechanisms are effective in preventing data corruption or loss.

What is the significance of multi-factor authentication and session timeouts in preventing unauthorized access, and how do they enhance security?

Multi-factor authentication and session timeouts prevent unauthorized access by adding an extra layer of security and limiting the duration of active sessions. They enhance security by making it more difficult for attackers to gain access to sensitive data.

What is the risk score of unauthorized access (Login), and what is the reason for its priority?

The risk score is 15. The reason for its priority is the critical impact due to potential data breaches and unauthorized transactions.

How do you test transaction rollback mechanisms, and what is the potential impact of data corruption or loss?

Test transaction rollback mechanisms by simulating transaction failures and verifying that no data is corrupted or lost. The potential impact of data corruption or loss is significant, leading to financial losses or reputational damage.

What is the purpose of risk assessment in software development, and how does it contribute to the overall security of the application?

The purpose of risk assessment is to identify and prioritize high-impact areas that could have severe repercussions. It contributes to the overall security of the application by enabling developers to focus on mitigating risks and preventing potential breaches or losses.

What is the significance of testing the highest risk areas in software development, and how does it enhance security?

Testing the highest risk areas enables developers to identify and mitigate risks before the software is released or updated. It enhances security by preventing potential breaches or losses and ensuring that the application is reliable and trustworthy.

What is the purpose of attempting logins with various attack vectors, and how does it enhance security?

The purpose is to test the resilience of the login system against various attack vectors. It enhances security by identifying vulnerabilities and ensuring that the system is robust against potential attacks.

Evaluate the risk score and priority of different security threats in online transactions, including privacy breaches, unauthorized fund transfers, and account lockout. Test your understanding of the measures needed to protect sensitive user information and secure transaction processes.

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