LBEF RESEARCH JOURNAL OF SCIENCE, TECHNOLOGY AND MANAGEMENT | ||
| E-ISSN: 2705-4748 P-ISSN: 2705-4683 | ||
Vol. 1, Issue 1 (Sept-2019)
Framework for Minimizing Cyber Security Issues in Banking Sector of Nepal
Author(s):Rupendra Maharjan, Jyotir Moy Chatterjee
Abstract:Banks have become increasingly relying in recent centuries on the latest information-based IT schemes that maintain their wealth in the type of data opposed to traditional companies, where physical money and securities are placed in a safe and secure area. Banks have become the component of internet and daily lives. It is a real task to protect these bank procedures, systems from the attackers and minimize the security threats.
With this Cyber-attacks increasing day by day, and this is the challenge facing by countries and organizations like banking where data is critical. Not only in frequency, but also in complexity, cyber threats are increasing. The number of cyber security attacks is increasing and becoming progressively destructive which is targeting and broadening the array of techniques and attack vectors. Most of these incidents could be prevented by implementing adaptable countermeasures promptly and minimizing risk. The goal of this research is to develop a framework to safeguard and minimize the cyber security issue that exists in banking sector of Nepal effectively and in a timely manner before cyber security incidents become a reality.
The core five elements of the National Institute of Standards and Technology (NIST) Identify, Protect, Detect, Respond and Recover is the baseline for the developing the framework for minimizing cyber security issues which will be fruitful in context to Nepalese environment.
This research presents the set of cyber security practices in minimizing the emerging risk and issue in Nepal. The developed framework will help control or avoid important corporate risk from delays in mitigation.
With this Cyber-attacks increasing day by day, and this is the challenge facing by countries and organizations like banking where data is critical. Not only in frequency, but also in complexity, cyber threats are increasing. The number of cyber security attacks is increasing and becoming progressively destructive which is targeting and broadening the array of techniques and attack vectors. Most of these incidents could be prevented by implementing adaptable countermeasures promptly and minimizing risk. The goal of this research is to develop a framework to safeguard and minimize the cyber security issue that exists in banking sector of Nepal effectively and in a timely manner before cyber security incidents become a reality.
The core five elements of the National Institute of Standards and Technology (NIST) Identify, Protect, Detect, Respond and Recover is the baseline for the developing the framework for minimizing cyber security issues which will be fruitful in context to Nepalese environment.
This research presents the set of cyber security practices in minimizing the emerging risk and issue in Nepal. The developed framework will help control or avoid important corporate risk from delays in mitigation.
Keyword(s):Cyber Security, emerging threat, Minimizing security threat, Banking, Security tools
Pages: 82-98
