Publication: Electronic Safety and Soundness : Securing Finance in a New Age
Date
2004-02
ISSN
Published
2004-02
Author(s)
Glaessner, Thomas C.
Kellermann, Tom
McNevin, Valerie
Abstract
This monograph and its technical annexes
identify and discuss four key pillars that are necessary to
foster a secure electronic environment and the safety and
soundness of financial systems worldwide. Hence, it is
intended for those formulating policies in the area of
electronic security and those working with financial
services providers (such as executives and management). The
detailed annexes of this monograph are relevant for chief
information and security officers and others who are
responsible for securing network systems. First, the
monograph defines electronic finance (e-finance) and
electronic security (e-security) and explains why these
areas require attention. Next, it presents a picture of the
emerging global security industry. Then, it develops a risk
management framework to assist policymakers and
practitioners in understanding the tradeoffs and risks
inherent in using an open network infrastructure. It also
provides examples of tradeoffs that may arise with respect
to technological innovations, privacy, quality of service,
and security in the design of an e-security policy
framework. Finally, it outlines issues in four critical and
interrelated areas that require attention in the building of
an adequate e-security infrastructure. These are: (i) the
legal, regulatory, and enforcement framework; (ii) external
monitoring of e-security practices; (iii) public-private
sector cooperation; and (iv) the business case for
practicing layered e-security that will improve internal monitoring.
Citation
“Glaessner, Thomas C.; Kellermann, Tom; McNevin, Valerie. 2004. Electronic Safety and Soundness : Securing Finance in a New Age. World Bank Working Paper;No. 26. © Washington, DC: World Bank. http://openknowledge.worldbank.org/entities/publication/7e399f88-a426-51b8-9f1a-b5e573e18cdf License: CC BY 3.0 IGO.”
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