Audit on the current management and supervision of information protection and cyber security in the financial sector Read full summary in English
- Evaluation of management and supervision of information protection and cyber security in the financial sector - Evaluation of current state of security management system in the financial sector - Based on a sample of 10 public institutions and 9 financial institutions.
- Financial Institutions are depending heavily on information systems for all aspects of their business – including online banking. At the same time there is a strong increase in cyber attacks against financial institutions and their client. Trust in the financial system is seriously declining.
- Currently, the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) are operating the “e-Finance Information Sharing and Analysis Center” and the “Electronic Financial Accident Response System”, respectively, for the purpose of responding to any incidents of information infringement in cyber space. Meanwhile, both of the institutions require financial companies to submit their reports on such incidents, redundantly, to each of the aforementioned systems and did not take any measures against the issues of scaled down or delayed reports.