By Thomas C. Glaessner
'Electronic protection and Soundness' identifies and discusses 4 key pillars which are essential to foster a safe digital surroundings and the security and soundness of economic structures world wide. First, the monograph defines digital finance and digital safeguard (e-security) and explains why those components require cognizance. subsequent, it provides an image of the rising worldwide defense undefined. Then, it develops a hazard administration framework to help policymakers and practitioners in realizing the tradeoffs and hazards inherent in utilizing an open community infrastructure. The e-book additionally offers examples of tradeoffs which can come up with admire to technological suggestions, privateness, caliber of provider, and protection within the layout of an e-security coverage framework. eventually, it outlines concerns in 4 serious and interrelated components that require cognizance within the development of an enough e-security infrastructure. those are: (i) the criminal, regulatory, and enforcement framework; (ii) exterior and inner tracking of e-security practices; (iii) public-private quarter cooperation; and (iv) the company case for working towards layered e-security. This identify is meant for coverage makers within the quarter of digital safety and people operating with monetary providers prone. The specific annexes might be of specific curiosity to leader details and safety officials, and others answerable for securing community platforms.
Read or Download Electronic Safety and Soundness: Securing Finance in a New Age (World Bank Working Papers) PDF
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Extra info for Electronic Safety and Soundness: Securing Finance in a New Age (World Bank Working Papers)
Promoting Awareness and Education Other essential roles for the public sector in this area are to promote awareness and to provide ongoing training and education. The importance of awareness and education among making persons in companies and consumers of electronically provided services cannot be underestimated in importance. Global efforts to introduce the responsible adoption of technology will require unprecedented networking and coordination between Universities, governments and the corporate sector worldwide.
Security of Payment Systems Though most countries have laws in place to regulate different components of the payments system, no country has yet addressed payments systems issues comprehensively. Payment systems legislation should identify, license, and regulate any directly related payment system entities, such 27. Article (II) Subsection A of the 2001 UNCITRAL Model Law on Electronic Signatures. 1: MONEY TRANSMITTERS AND INTERNET SERVICE PROVIDERS The convergence of the telecommunications, computer, and financial services industries is changing the fundamentals of the industrial organization of the financial services sector.
Given the level of integration between countries, it can evoke a detrimental impact on other economies as well,15 as could similar impacts in other critical infrastructure areas, from transportation to energy, to telecommunications. Moreover, a problem in one area of critical infrastructure may compromise other critical infrastructures. For example an intrusion or breach in the case of a telecommunications company if the entity provides data storage or hosting services can have an impact on the banking system and risks of related intrusions.