Cybersecurity as a global concern in need of global solutions: an overview of financial regulatory developments in 2015

Comizio, V. Gerard; Dayanim, Behnam; Bain, Laura

doi:10.1108/joic-01-2016-0003

Cited by 7 publications

(5 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In the United States, the financial sector's approach to cybersecurity is characterized by a robust regulatory framework and the adoption of advanced technological solutions. The regulatory environment, spearheaded by agencies such as the Federal Reserve and the Securities and Exchange Commission, mandates financial institutions to implement comprehensive cybersecurity measures (Comizio, Dayanim, & Bain, 2016). These regulations are supported by sophisticated cybersecurity technologies, including anomaly detection and machine learning, to prevent financial fraud and secure customer data.…”

Section: Regulatory and Policy Frameworkmentioning

confidence: 99%

Cybersecurity in the Financial Sector: A Comparative Analysis of the Usa and Nigeria

Babajide Tolulope Familoni,

Philip Olaseni Shoetan

2024

Comput. sci. IT res. j.

View full text Add to dashboard Cite

This paper provides a comprehensive review and comparative analysis of cybersecurity challenges and strategies within the financial sectors of the United States of America (USA) and Nigeria. It aims to elucidate the complexities and variances in cybersecurity practices, focusing on the different approaches taken by these nations to safeguard their financial data against increasing cyber threats. Through a detailed examination of existing literature, including academic journals, industry reports, and cybersecurity incident databases, this study identifies the unique and common cybersecurity vulnerabilities, regulatory environments, and defense mechanisms employed by the financial sectors in both countries. The review reveals that the USA's financial sector benefits from advanced cybersecurity technologies and a strong regulatory framework, yet faces challenges related to sophisticated cyber-attacks and the management of insider threats. Conversely, Nigeria's financial sector grapples with issues such as limited cybersecurity awareness, technological constraints, and evolving regulatory frameworks. Despite these disparities, both countries share the necessity of enhancing their cybersecurity posture to combat the evolving nature of cyber threats effectively. Conclusively, the paper argues that addressing cybersecurity in the financial sector necessitates a comprehensive approach that includes not only technological solutions but also the strengthening of regulatory policies, enhancement of cybersecurity awareness, and fostering international collaboration. The comparative analysis underscores the importance of adopting best practices from each country's experience, aiming to bolster the resilience of financial institutions against cyber threats in an increasingly interconnected world. Keywords: Cybersecurity, Financial Sector, United States, Nigeria, Digital Infrastructure, Technological Vulnerabilities, Regulatory Complexities, Human Factors, Advanced Detection, Prevention Technologies, Machine Learning, Anomaly Detection, Cybersecurity Frameworks, Awareness, Training, Culture, Public-Private Partnerships, Threat Intelligence, Best Practices, Innovation, Regulatory Foresight, Human Capital Development, Stability, Integrity, Collaboration

show abstract

Section: Regulatory and Policy Frameworkmentioning

confidence: 99%

Cybersecurity in the Financial Sector: A Comparative Analysis of the Usa and Nigeria

Babajide Tolulope Familoni,

Philip Olaseni Shoetan

2024

Comput. sci. IT res. j.

View full text Add to dashboard Cite

show abstract

“…The authors argue for the value of compliance not just as a legal requirement but as a strategic asset in the fight against cybercrime (Mohammed, Omar, & Nguyen 2017). Comizio, Dayanim, and Bain (2016) provide an overview of financial regulatory developments in cybersecurity during 2015, offering insights into the evolving cyber-regulatory expectations. The paper suggests that while cyber threats and regulatory expectations are in constant flux, recent guidance and enforcement efforts illustrate the need for financial institutions to develop effective cybersecurity programs.…”

Section: The Role Of Innovation and Technology In Enhancing Cybersecu...mentioning

confidence: 99%

“…The paper suggests that while cyber threats and regulatory expectations are in constant flux, recent guidance and enforcement efforts illustrate the need for financial institutions to develop effective cybersecurity programs. These programs should not only address current regulatory compliance requirements but also prepare for emergency cyber responses, highlighting the need for financial institutions to utilize tools like the Federal Financial Institutions Examination Council's Cybersecurity Assessment Tool to assess their cyber-risk profile and cyber-preparedness (Comizio, Dayanim, & Bain, 2016).…”

Section: The Role Of Innovation and Technology In Enhancing Cybersecu...mentioning

confidence: 99%

Developing Cybersecurity Frameworks for Financial Institutions: A Comprehensive Review and Best Practices

Lawrence Damilare Oyeniyi,

Chinonye Esther Ugochukwu,

Noluthando Zamanjomane Mhlongo

2024

Comput. sci. IT res. j.

View full text Add to dashboard Cite

In the digital epoch, where the financial sector stands as the cornerstone of global economic stability, the escalating sophistication of cyber threats poses an unprecedented challenge. This scholarly pursuit aimed to dissect the intricate web of cybersecurity within the financial domain, elucidating the evolving threat landscape, scrutinizing the efficacy of existing cybersecurity frameworks, and delineating strategic pathways for fortification against digital adversaries. Anchored in a qualitative methodology, the study embarked on a systematic literature review, meticulously sifting through contemporary academic discourse to unveil the nuances of cybersecurity challenges besieging financial institutions. The scope of this inquiry spanned the assessment of regulatory landscapes, the exploration of technological innovations in cybersecurity, and the critical examination of human factors influencing cybersecurity efficacy. The findings illuminate a stark reality—the existing cybersecurity frameworks, though foundational, are increasingly inadequate in the face of sophisticated cyber threats. The study advocates for a paradigmatic shift towards more adaptable, robust, and technology-driven cybersecurity frameworks, underscored by the imperative for regulatory agility and international collaboration. Conclusively, the paper posits that the future of cybersecurity in the financial sector hinges on a tripartite alliance among financial institutions, regulatory bodies, and technology providers, urging a unified front to navigate the cyber tempest. Recommendations call for an integrated approach that marries regulatory compliance with cutting-edge technological solutions, fostering a cybersecurity ecosystem that is both resilient and responsive to the digital zeitgeist. This scholarly endeavor not only contributes to the academic discourse on financial cybersecurity but also serves as a beacon for policymakers, practitioners, and stakeholders in charting a secure course in the digital financial frontier. Keywords: Cybersecurity, Financial Sector, Systematic Literature Review, Regulatory Compliance, Technological Innovation, Strategic Recommendations.

show abstract

“…In clinical phenomenology, expectancies are unconscious processes related to knowledge seeking and wish fulfilment. Klein emphasised that desires govern mental life, although Freud described desires as mind, which should be considered distinctly from reality (Comizio et al, 2016). Bell (2017) also points out that there are several explanations of hope.…”

Section: Profit Expectancymentioning

confidence: 99%

Individual Cultural Values and Profit Expectations on Investment Intentions in Crypto Currency: Religiosity as a Moderating Variable

Abadi,

Hamdan

2023

BASKARA

View full text Add to dashboard Cite

This study intends to investigate the effects of conscious and unconscious processes on crypocurrency investment intention. The impact of personal cultural values, profit expectations, and religiosity on intentions for hazardous investments was examined within this paradigm. Additionally, the mediating function of profit expectations in the association between a person's cultural values and religion for crypocurrency investment intents was also examined. Additionally, the topic of religion as a mediator of profit expectations and crypocurrency investing purpose was covered. When our graduate students willingly shared the online survey link on their social networks between February and July 2022, the data were gathered. In all, 446 people responded to the questionnaire in this manner. The AMOS programme was used to carry out structural equation modelling (SEM), which was used to test the research model.In addition to these, the effects of age, education level, sex, and marital status on individual cultural values and investment intentions were examined. The age group of 41 to 50 years old had the highest uncertainty avoidance level. People above the age of 41 had the highest level of long-term orientation. The 51-year-old age group had the least risky investing objectives. Age did not influence collectivism or power distance. The amount of schooling had no impact on any variations in the pertinent variables. Intention to take risks, power distance, masculinity, and collectivism are all greater in men than in women, and married people are more likely to avoid uncertainty and to identify as men than unmarried people. This study is the first to examine the combined effect of conscious and unconscious processes on cryptocurrency investing intentions. The authors have also offered evidence for the presence of a link between these three factors. On the other hand, the number of empirical studies examining the relationship between profit expectancy, religion, and investment intention in cryptocurrency is rather small.

show abstract

Cybersecurity as a global concern in need of global solutions: an overview of financial regulatory developments in 2015

Cited by 7 publications

References 0 publications

Cybersecurity in the Financial Sector: A Comparative Analysis of the Usa and Nigeria

Cybersecurity in the Financial Sector: A Comparative Analysis of the Usa and Nigeria

Developing Cybersecurity Frameworks for Financial Institutions: A Comprehensive Review and Best Practices

Individual Cultural Values and Profit Expectations on Investment Intentions in Crypto Currency: Religiosity as a Moderating Variable

Contact Info

Product

Resources

About