Information security legislation

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Presently, many financial services companies are realizing the need to expand the range of risk management and governance to incorporate information technology (IT). This realization is increasing in the wake of increasing theft occurrences and other information security violation, and also an increase of legislation intended to control financial markets and operational hazards exposures.


Never the less, times have changed and the recent past has seen a lot of regulations and legislation which impacts information security. Some of these legislations are the European Data Protection Directive, Sarbanes-Oxley Act, and the Capital Adequacy Directive, just to mention but a few. In the event of these new compliance rules organization are being forced to resort a range of codes and standards to control their information systems. (Purtell, 2007)
Information security is an organization problem, and not a technologically one. With increasing spotlight on information security in legislation and the media all over the world, companies are being faced with a complex need to conform to privacy and security regulations and standards. This is making information security issues to be discussed in the boardrooms and many executives and directors becoming aware of their responsibility in ensuring information security in an organization. Information security is driven by;
The knowledge of issues and challenges being faced in information security currently has increased. Through, the government, the media, crimes, cyber attacks and proliferation of products that are vulnerable, information security has continued to receive more attention (Purtell, 2007)
Through successful attacks for example code red and Nimrod, c ...
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