Problems and Risks with Information Security in the modern world - Research Paper Example

This essay discusses that increasing and tougher market competition, globalisation, rapid developments in technology, higher demands from customers and other similar factors are some of the changes that companies are confronted with as they try to create their niche in the global market. In response, companies have redefined and re-shaped their strategies in order to equip them with the necessary tools and mechanisms that will enable the organisation to address the challenges brought by change.

One of the most important challenges that organisations have to deal with is the rapid evolution and changes in information technology. Information is one of the primary assets organisations. It is being exchanged among organisations, employees, customers, management, partners and other stakeholders of the company. Meanwhile, developments in communication and computer technologies have paved for faster exchanges of information through the use cellular phones, internet, and other technological devices that allow people to be connected anytime, anywhere.

In this regard, information technology has become an integral part and tool of organisations as firms respond to the challenges of the market and cope with the increasing demands of the customers. However, as information becomes more valuable to firms and organisational processes become more dependent on information systems (IS), IS security has become one of the major issues that modern enterprises have to tackle. (Belsis, Kokolakis & Kiountouzis 2005). Threats, identity theft, fraud, viruses, data integrity, data protection and other similar concerns have been part of the many issues that IS security have to deal with as the proliferation of the use of computers continue in the Information age.

In this regard, this research will focus on the problems and risks in information security in general and in the banking sector in particular. Objectives of the Study The study intends to examine the nature of information security. It also seeks to determine the various problems and risks that information security is dealing with. Likewise, the study aims to identify some of the theories that are proposed in order to address the concerns and issues pertinent to information security. In addition, it aims to understand information security from the viewpoint of the banking sector.

Finally, the study seeks to test information that will identify further concerns in information security in the banking sector. Research Questions In view of the integral role that information security in organisations, the research will be addressing two main questions and these are, first,