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Managing Information Security Risks in Global Financial Institutions - Research Proposal Example

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The paper "Managing Information Security Risks in Global Financial Institutions" discusses that the study will present a brief discussion of the financial industry. The risk associated with undertaking transactions on the Internet will also be underlined…
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Managing Information Security Risks in Global Financial Institutions
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Download file to see previous pages Regulatory requirements that have appeared over the last few years have complicated the risk management effort since these regulations did not stem directly from Information Security but rather from other areas interacting with IT like finances, legal etc. The information security requirements that these frameworks have is going to be researched and any attempt to assign it to the general categories of information security risks will be made, in order to facilitate an easier management
Results: “Achieving information security is extremely complicated and requires the combination of technical resources and management procedures. A specific balance needs to be achieved, which will provide the required protection to counter the various risks facing any online financial institutions and, in general, any Internet-based businesses venture. (Chaturvedi et al.)
With the passing time, the importance of information security is increasing multi-fold, especially for financial institutions. In order to respond to the increasing concerns regarding the information security the regulatory bodies, all over the world are preparing various regulatory initiatives and set of rules. The financial institutions are required to solve the problem at both the fronts of potential security threats and regulations regarding the information securities.
With the increasing awareness and concerns from the customers, the financial institutions are required to disclose information at a higher scale at the same time the security of information is an important concern. Most of the companies are offshoring their operations in order to reduce costs. This not only increases the concerns of the consumer but also increase the need for information provided by the financial institutions in order to open themselves up to customers and partners for revenue growth. The study will provide the suggestion of how does an organisation balance its stakeholder demands while managing the cost of security solutions to prevent IT attacks?  ...Download file to see next pagesRead More
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