Papers by Priyant Banerjee
IJFMR, 2024
On July 19, 2024, a technical malfunction in CrowdStrike's Falcon sensor software led to a global... more On July 19, 2024, a technical malfunction in CrowdStrike's Falcon sensor software led to a global IT disruption, affecting millions of devices across multiple sectors. This incident, although not a direct cyberattack, caused significant operational upheavals reminiscent of major past cyber incidents. This paper explores the CrowdStrike incident in detail, compares it with previous major cyber events, and proposes comprehensive solutions to mitigate such risks in the future. The faulty update from CrowdStrike resulted in widespread system crashes, notably the "Blue Screen of Death," paralyzing operations in critical sectors such as healthcare, finance, and transportation. The paper examines the immediate and cascading effects of the incident, highlighting the vulnerabilities exposed and the opportunistic cyber threats that emerged in its wake. Drawing comparisons with past cyber incidents like the WannaCry ransomware attack of 2017 and the SolarWinds breach of 2020, this paper identifies common vulnerabilities and response shortcomings. It also delves into the strategic measures employed during these past incidents, evaluating their effectiveness and relevance to the CrowdStrike situation. To address such incidents proactively, the paper recommends enhanced testing protocols for software updates, the development of automated rollback mechanisms, and the establishment of robust disaster recovery plans. Emphasis is placed on the need for clear communication strategies and improved incident response frameworks to mitigate both technical faults and associated cyber threats. The CrowdStrike incident underscores the complexities and interconnected risks inherent in modern cybersecurity landscapes. By learning from past incidents and implementing the proposed solutions, organizations can bolster their resilience against future cyber disruptions, ensuring greater operational continuity and security.
IJFMR, 2024
The IncomeWellBeingX (IWX) application aims to revolutionize the financial well-being of individu... more The IncomeWellBeingX (IWX) application aims to revolutionize the financial well-being of individuals, particularly in Asia, by providing comprehensive income support, tax information, rebate assistance, and financial tips. The primary focus of IWX is to empower users with the knowledge and tools necessary to achieve financial stability and growth. This paper explores the technologies utilized in the development of IWX, including React Native and TypeScript (TSX), which facilitate a robust and seamless user experience across multiple platforms. Additionally, the application integrates various cybersecurity measures to ensure the safety and privacy of user data, including data encryption, SSL pinning, multifactor authentication, and regular security audits. Furthermore, this paper discusses the global impact of spreading financial education, emphasizing the importance of accessible financial resources in improving income well-being. Financial education is critical in enabling individuals to make informed financial decisions, increase savings, and develop sound investment strategies. By leveraging AI-driven personalized advice and a community-driven support system, IWX not only provides essential financial information but also fosters a collaborative learning environment. The IWX application serves as a model for integrating financial education with advanced technological and security frameworks to enhance income well-being worldwide. Through a comprehensive approach that combines innovative technology, rigorous cybersecurity, and a focus on financial literacy, IWX has the potential to significantly impact individuals' financial health and promote economic stability on a global scale. This research highlights the methodologies used in the development of IWX, the challenges faced, and the solutions implemented, providing a roadmap for future advancements in the field of financial technology and education.
Uploads
Papers by Priyant Banerjee