Research Proposal on Information Security Governance in the Financial & Banking Sector

This research proposal focuses on the importance of information security governance in the financial and banking sector. It explores the various security risks and attacks faced by the industry and proposes measures to prevent and control them.

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Information Security Governance
Research Proposal
2/8/2019

Research Proposal
Table of Contents
Introduction of Research Background...................................................................................................2
Research Motivation..............................................................................................................................2
Justification.......................................................................................................................................2
Research Questions...............................................................................................................................3
Conclusion.............................................................................................................................................3
References.............................................................................................................................................4
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Research Proposal
Introduction of Research Background
Information Security has become a primary concern for the business organizations in the
present time. With the increase in the technological resources for the execution of the
business operations, the likelihood of the information security and privacy attacks has
increased. Finance & Banking industry is one such industry that deals with confidential
pieces of information. The industry is exposed to various forms of information security
attacks which may have severe implications, such as legal obligations, poor market
reputation, and reduced customer trust & engagement. There are different forms of security
controls that have been developed. In addition with the logical, technical, and administrative
controls, it is necessary that Information Security Governance is also adequately planned and
implemented (Ula, Ismail & Sidek, 2011).
The research is conducted on the Information Security Governance in the Financial &
Banking Sector.
Research Motivation
There are various forms of information security attacks that the financial & banking industry
is exposed to. Some of these security risks and attacks include malware attacks,
eavesdropping attacks, man in the middle attacks, denial of service attacks, data loss, data
breaches, cross site scripting attacks, SQL injection attacks, account hijacking, and many
others (June, Jason & Meiga, 2010). The organizations in the banking and financial industry
have experienced many such issues in the past. It is necessary to understand different
measures that may be adopted to control and prevent such security risks and attacks.
Justification
The research is justified as the banking & financial industry primarily deals with confidential
and private information. The exposure of this information to the unauthorized entities may
result in significant impacts on the organization and its stakeholders. The implementation of
adequate governance policies and procedures will allow the organizations to prevent and
detect such risks and threats. The research will bring out the various procedures and tools that
may be used in the process. Also, the integration and amalgamation of these policies with the
logical and administrative controls will also be devised (Yaokumah & Brown, 2014).
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Research Proposal
Research Questions
The following research questions will be answered in the research process.
 What are the Information Security Governance policies and procedures that shall be
defined for the organizations under Financial & Banking industry?
 What are the automated tools that may be used for the purpose of governance?
 What are the mechanisms that may be followed to integrate the governance policies
with the technical, logical, and administrative controls for achieving information
security and privacy? (Malviya, 2015)
 Is it necessary to modify the governance mechanisms as per the information category?
Conclusion
Information security is one of the primary areas and there is a lot of research and analysis that
is being carried out in the field. The research on information security governance for financial
& banking industry will provide the organizations with the ability to detect, prevent, control,
and avoid the security risks and attacks. The organizations will be stabilized in terms of
information security and safety. The research proposal will be followed by the literature
review, execution of the research, and discussion to come up with the research findings and
outcomes.
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Research Proposal
References
June, W., Jason, O., & Meiga, L. (2010). Information Technology Offshore Outsourcing
Security Risks and Safeguards. Journal Of Information Privacy And Security, 6(3),
29-46. doi: 10.1080/15536548.2010.10855892
Malviya, D. (2015). Handful Trends in the Banking Security. International Journal Of
Engineering And Computer Science. doi: 10.18535/ijecs/v4i8.68
Ula, M., Ismail, Z., & Sidek, Z. (2011). A Framework for the Governance of Information
Security in Banking System. Journal Of Information Assurance & Cybersecurity, 1-
12. doi: 10.5171/2011.726196
Yaokumah, W., & Brown, S. (2014). An empirical examination of the relationship between
information security/business strategic alignment and information security
governance domain areas. Journal Of Business Systems, Governance And Ethics, 9(2).
doi: 10.15209/jbsge.v9i2.718
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