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Information Security Risks - Essay Example

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Summary
The research objectives are the identification of the information security threat to contemporary global financial organisations. This is a multi-layered threat that can have both direct (e.g. operational) and indirect (e.g. reputed) impact. This analysis can bring into light the significance of the establishment of a management framework…
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Information Security Risks
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Information Security Risks

Download file to see previous pages... The information security requirements that these frameworks have is going to be researched and an 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 the 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 ...
With the increasing awareness and concerns from the customers the financial institutions are required to disclose information at higher scale at the same time the security of information is an important concern. Most of the companies are off shoring their operations in order to reduce costs. This not only increases the concerns of the consumer but also increase the need of information provision by the financial institutions in order to open themselves up to customers and partners for revenue growth. The study will provide the suggestion how does an organisation balance its stakeholder demands while managing the cost of security solutions to prevent IT attacks It is not very easy to find the solution for stated problems. This study is an attempt for the financial institutions all over the world, the findings and results may not match the current trend of the financial information security practices but some practical suggestions will be presented. I hope that the readers and the concerned people will find this information useful and that it helps establish organisational direction for a very complex issue.

3- relation to previous research:
In setting up a Web server and connecting it to Internet, a company runs the risk of eavesdropping, intrusion, theft of data, even alteration of data. Full responsibility for controlling these threats falls on the company. Compounding the problem is that the culture of the Internet openness, ease of access, lack of controls so easily penetrates the companies connected to Internet (Stallings & Slyke, 1998).
According to Stallings & Slyke (1998) the requirements of security are best assessed by examining the various security threats faced by an organisation. ...Download file to see next pagesRead More
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