Challenges of Co-Operative Financial Sector for Implementation of Cyber Security Controls
Author(s):
Bhagirath H. Chavda, Chandesh D. Parekh
Keywords:
Auditing, Information Security, Vulnerability Assessment, Penetration testing, Risk Assessment, Cyber security controls, Server Review, Network Diagram, Cyber security standards.
Abstract
Co-operative financial sector is growing by time they are responsible for nation’s economic growth. [1] It is mandatory to implement security controls to be followed guidelines by RBI. Co-operative financial sector somehow lacks to implement cyber security controls there are several challenges which financial sector faces. A proper cyber security infrastructure needed to prevent threats and control the level of risk which can cause damage to the Co-operative financial sector. Current scenario is not lacking completely when it comes to security. Observations obtained by conducting information security audit, VAPT, risk assessment, reviewing critical assets helps to give suggestion to the Co-operative financial sector. How they can improve the security parameters and what kind of challenges they face to implement that is crucial also how it affects to the customers as well as that particular financial sector. Current research basically focuses on Challenges of Co-Operative Financial Sector for Implementation of Cyber Security Controls.
Researches states information obtained results from information security audit. There are few checkpoints having reference to guidelines from RBI which determines how security controls implemented to the Co-operative financial sector. Vulnerabilities also determined from VAPT which gives security measurement to system and logical controls. Also, infrastructure plays decisive role for the security controls in financial sector.
