A bank stores depositor data electronically. The data include financial account values, social security numbers, and other information. An outside party was able to gain access to the bank's customer data through unauthorized access to the bank's computer system. The outside party was able to steal money from the accounts and to sell customer data, including social security numbers, to others. This scenario illustrates
A) terrorism risk.
B) climate change risk.
C) speculative financial risk.
D) cyber-liability risk.

Question

Quizplus · Accepted Answer

This scenario describes a breach of cybersecurity where an outside party gained unauthorized access to customer data and caused financial loss and theft of sensitive information. This falls under the category of cyber-liability risk.

A Bank Stores Depositor Data Electronically