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Financial institutions ignore BS7799
The City of London, one of Europe's main financial services centres, is a major focus for concern regarding the threat to information security, says the British Standards Institute (BSI). This institute is making this claim because only six percent of UK financial services organisations have implemented BS7799, the Information Security Management Standard.
Chris Ferrant, BSI Management Systems states: "A staggering amount of cybercrime incidents go unreported in the financial sector as banks will rarely admit to a security breach in order to protect their reputation. It is also about maintaining consumer confidence in banks, as these institutions are there to take care of our money and protect our personal information. BS7799 will address most issues faced by financial institutions with regard to information security."
Developed by BSI, BS7799 is the internationally recognised standard for information security management. Both the DTI and MI5 promote the use of BS7799 and were involved in its development from the start.
(PRWEB) January 27, 2004 --BS 7799 is a standard setting out the requirements for an Information Security Management System. It helps identify, manage and minimise the range of threats to which information is regularly subjected and identifies 10 controls:
| | - Security policy - this provides management direction and support for information security.
- Organisation of assets and resources - to help manage information security within the organisation.
- Asset classification and control - to help identify assets and appropriately protect them.
- Personnel security - to reduce the risks of human error, theft, fraud or misuse of facilities.
- Physical and environmental security - to prevent unauthorised access, damage and interference to business premises and information.
- Communications and operations management - to ensure the correct and secure operation of information processing facilities.
- Access control - to control access to information
- Systems development and maintenance - to ensure that security is built into information systems
- Business continuity management - to counteract interruptions to business activities and to protect critical business processes from the effects of major failures or disasters.
- Compliance - to avoid breaches of any criminal and civil law, statutory, regulatory or contractual obligations, and any security requirement.
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www.bsi-global.com
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