2- Data Security

Assessment Description

National Australia Bank
https://www.afr.com/companies/financial-services/nab-repays-customers-688k-for-data-breach20210421-p57l1q

Background
“The accounts of about 13,000 NAB customers were compromised on Wednesday, July 24, 2019,after an employee uploaded details, including government-issued identity documents such as Medicare cards, to two different websites with the bank informing customers on the following Friday night”.
“At the time of the event, there were insufficient technical controls in place to prevent transfers of this nature. NAB has uplifted these controls to prevent a similar event occurring in the future,” NAB said in a statement.
“Among the new controls the bank introduced were the blocking of certain websites and closer email monitoring of staff and contractors”
In 2021, National Australia Bank revealed it paid $686,878 in compensation to customers exposed to this 2019 data breach after the personal account details of 13,000 customers were uploaded to a website similar to Google Sheets.
Brief
As an analyst within NAB, you have been tasked with considering ways in which customer data can be used to further assist NAB with its marketing campaigns.
As a further task, you have been asked to consider how NAB could potentially assist other vendors interested in the credit card history of its customers.

Industry Report
Based on your own independent research, you are required to evaluate the implications of the
Australian Privacy Principles and European legislation such as GDPR on NAB’s proposed analytics project and overall business model.

Your report can be structured using the following headings:
Data Usability
▪ Benefits and costs of the database to its stakeholders.
▪ Descriptive, predictive and prescriptive applications of the data available and
the data analytics software tools this would require.
Data Security and privacy
▪ Data security, privacy and accuracy issues associated with the use of the
database in the way proposed in the brief.
Ethical Considerations
▪ The ethical considerations behind whether the customer has the option to opt in
or opt out of having their data used and stored in the way proposed by the
analytics brief
▪ Other ethical issues of gathering, maintaining and using the data in the way
proposed above.
Artificial Intelligence
▪ How developments in AI intersects with data security, privacy and ethics,
especially in light of your proposed analytics project.
Use the resources provided as well as your own research to assist with data collection and data privacy discussions.