Publication:
Electronic Security : Risk Mitigation in Financial Transactions - Public Policy Issues

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dc.contributor.authorGlaessner, Thomas
dc.contributor.authorKellermann, Tom
dc.contributor.authorMcNevin, Valerie
dc.date.accessioned2014-08-05T21:04:46Z
dc.date.available2014-08-05T21:04:46Z
dc.date.issued2002-07
dc.description.abstractThis paper builds on a previous series of papers (see Claessens, Glaessner, and Klingebiel, 2001, 2002) that identified electronic security as a key component to the delivery of electronic finance benefits. This paper and its technical annexes (available separately at http://www1.worldbank.org/finance/) identify and discuss seven key pillars necessary to fostering a secure electronic environment. Hence, it is intended for those formulating broad policies in the area of electronic security and those working with financial services providers (for example, executives and management). The detailed annexes of this paper are especially relevant for chief information and security officers responsible for establishing layered security. First, this paper provides definitions of electronic finance and electronic security and explains why these issues deserve attention. Next, it presents a picture of the burgeoning global electronic security industry. Then it develops a risk-management framework for understanding the risks and tradeoffs inherent in the electronic security infrastructure. It also provides examples of tradeoffs that may arise with respect to technological innovation, privacy, quality of service, and security in designing an electronic security policy framework. Finally, it outlines issues in seven interrelated areas that often need attention in building an adequate electronic security infrastructure. These are: 1) The legal framework and enforcement. 2) Electronic security of payment systems. 3) Supervision and prevention challenges. 4) The role of private insurance as an essential monitoring mechanism. 5) Certification, standards, and the role of the public and private sectors. 6) Improving the accuracy of information on electronic security incidents and creating better arrangements for sharing this information. 7) Improving overall education on these issues as a key to enhancing prevention.en
dc.identifierhttp://documents.worldbank.org/curated/en/2002/07/1971353/electronic-security-risk-mitigation-financial-transactions-public-policy-issues
dc.identifier.doi10.1596/1813-9450-2870
dc.identifier.urihttps://hdl.handle.net/10986/19261
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 2870
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectELECTRONIC TECHNOLOGY
dc.subjectSECURITY SYSTEMS
dc.subjectRISK MANAGEMENT
dc.subjectFINANCIAL MECHANISMS
dc.subjectPOLICY FORMATION
dc.subjectFINANCIAL SERVICES DATA PROCESSING
dc.subjectINFORMATION PROCESSING
dc.subjectSECURITY TRADING
dc.subjectGLOBALIZATION
dc.subjectTECHNOLOGICAL INNOVATIONS
dc.subjectPRIVACY PROTECTION
dc.subjectPRIVACY RIGHTS
dc.subjectQUALITY OF SERVICE
dc.subjectPOLICY FRAMEWORK
dc.subjectLEGAL FRAMEWORK
dc.subjectLAW ENFORCEMENT
dc.subjectPAYMENTS SYSTEMS
dc.subjectSUPERVISORY STRUCTURES
dc.subjectINSURANCE INDUSTRY
dc.subjectPRIVATE POLICE
dc.subjectMONITORING CRITERIA
dc.subjectPUBLIC SECTOR MANAGEMENT
dc.subjectPRIVATE SPONSORS
dc.subjectELECTRONIC INFORMATION NETWORK ADEQUATE SECURITY
dc.subjectASP
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectCOMMUNICATIONS TECHNOLOGY
dc.subjectCORRUPTION
dc.subjectCREDIT CARDS
dc.subjectCREDIT UNIONS
dc.subjectCRIME
dc.subjectCRIMES
dc.subjectCRIMINALS
dc.subjectELECTRONIC COMMERCE
dc.subjectELECTRONIC FUNDS
dc.subjectELECTRONIC FUNDS TRANSFERS
dc.subjectELECTRONIC MONEY
dc.subjectELECTRONIC TRANSACTIONS
dc.subjectEMERGING MARKETS
dc.subjectENCRYPTION
dc.subjectEXPLICIT KNOWLEDGE
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL TRANSACTIONS
dc.subjectFRAUD
dc.subjectINSTITUTIONAL ARRANGEMENTS
dc.subjectINSURANCE
dc.subjectINTERNATIONAL TELECOMMUNICATIONS
dc.subjectISP
dc.subjectLAW ENFORCEMENT
dc.subjectLAW ENFORCEMENT AGENCIES
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGISLATION
dc.subjectLIABILITY
dc.subjectMARKET ECONOMIES
dc.subjectNATIONAL INFRASTRUCTURE
dc.subjectNETWORK TRAFFIC
dc.subjectNETWORKS
dc.subjectONLINE BANKING
dc.subjectOPERATIONAL RISK
dc.subjectORGANIZED CRIME
dc.subjectPAYMENT SYSTEMS
dc.subjectPROTOCOLS
dc.subjectPUBLIC AGENCIES
dc.subjectPUBLIC POLICIES
dc.subjectPUBLIC POLICY
dc.subjectREGULATORY FRAMEWORK
dc.subjectRETURN ON INVESTMENT
dc.subjectRISK MANAGEMENT
dc.subjectSAVINGS
dc.subjectSECURITY INFORMATION
dc.subjectSECURITY OFFICERS
dc.subjectSECURITY PROTOCOLS
dc.subjectSECURITY STANDARDS
dc.subjectSECURITY SYSTEMS
dc.subjectSMART CARDS
dc.subjectSOCIAL SECURITY
dc.subjectTECHNOLOGICAL INNOVATION
dc.subjectTELEPHONY
dc.subjectTERRORISTS
dc.subjectTHREATS
dc.subjectVIDEO CONFERENCE FACILITIES
dc.subjectWEB SITES
dc.titleElectronic Security : Risk Mitigation in Financial Transactions - Public Policy Issuesen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleElectronic Security: Risk Mitigation in Financial Transactions—Public Policy Issues
okr.date.disclosure2002-07
okr.date.doiregistration2025-04-10T09:38:17.027034Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2002/07/1971353/electronic-security-risk-mitigation-financial-transactions-public-policy-issues
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeEducation
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeGovernance
okr.guid985681468739503889
okr.identifier.doi10.1596/1813-9450-2870
okr.identifier.externaldocumentum000094946_02081004010495
okr.identifier.internaldocumentum1971353
okr.identifier.reportWPS2870
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2002/08/23/000094946_02081004010495/Rendered/PDF/multi0page.pdfen
okr.sectorFinance :: Payment systems, securities clearance and settlement
okr.topicBanks and Banking Reform
okr.topicMacroeconomics and Economic Growth::Knowledge Economy
okr.topicEducation::Education for the Knowledge Economy
okr.topicInternational Terrorism and Counterterrorism
okr.topicSocial Protections and Labor::Labor Policies
okr.topicPayment Systems and Infrastructure
okr.topicGovernance::Governance Indicators
okr.unitOff of Sr VP Dev Econ/Chief Econ (DECVP)
okr.volume1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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