Development of a Cyber Security Auditing Framework (CSAF) Tailored for the Banking Sector
ABSTRACT
The rapid advancement of cyber security and technology brings significant benefits to businesses, particularly in the banking sector. As banks increasingly rely on the Internet and computer technologies for their operations and customer interactions, they strive to adopt modern technologies to enhance efficiency and service delivery. However, along with these benefits come risks of information misuse, service disruptions, and cyber-attacks that can disrupt the normal functioning of computer-based systems. Globally, the frequency of cyber threats and security breaches has been on the rise, and Ethiopia’s banking sector is not exempt from these challenges. The main objective of this study is to propose and develop a practical Cyber Security Auditing Framework (CSAF) tailored specifically for the banking sector. The research involved examining and comparing various cybersecurity frameworks and best practices. A mixed research method approach was applied, combining ISO audit checklists and expert experiences to assess cyber security practices in selected banks. The proposed Cyber Security Auditing Framework consists of two fundamental pillars. The first pillar focuses on requirement identification and is divided into Entity Relation Model (ERM) and organizational & process models. The second pillar revolves around countermeasures and emphasizes organizational policies, procedures, guidelines, and controls. Through this comprehensive approach, the study evaluated existing practices, processes, and challenges in the banks’ cyber security domain and developed a tailored Cyber Security Auditing Framework suitable for the Nigerian banking industry. This framework is designed to assist the industry in safeguarding against cyber-attacks. The proposed framework holds both practical and theoretical significance, offering valuable insights and guidance to the banking sector as well as serving as a foundation for further research efforts in similar domains. By adopting this workable framework, banks can bolster their cyber security measures and mitigate potential threats, ensuring a secure and resilient environment for their operations and customers.
Development of a Cyber Security Auditing Framework (CSAF) Tailored for the Banking Sector, GET MORE COMPUTER SCIENCE PROJECT TOPICS AND MATERIALS