Way-Mid Bank is a regional bank in the Midwest United States…
Way-Mid Bank is a regional bank in the Midwest United States that has approximately 500,000 customers. One day, the central computer servers at Way-Mid Bank’s headquarters are hacked by cyber-criminals. This leads to: thousands of customer’s personal account information being stolen by the cyber-criminals; and in a few extreme cases, several customers had unauthorized financial transactions made on their account for a total of $750,000. The above scenario best represents what type of risk?