Assignment 5 Cybersecurity Measures for a Financial Institution | CSIS 343 - Cybersecurity

6. Data Privacy and Compliance:

a. Compliance with Regulations:

Privacy Impact Assessments: Conduct privacy impact assessments to ensure that new features or changes comply with privacy regulations. User Consent: Obtain clear and informed consent from users regarding the collection and use of their personal information.

b. Transparency and Accountability:

Security Reporting: Provide users with a transparent report on the security measures in place, including encryption standards and compliance certifications. Incident Response Plan: Develop and communicate an incident response plan outlining the steps taken in the event of a security incident. These advanced considerations aim to provide a comprehensive and proactive approach to secure online banking practices. It's crucial to regularly review and update these practices to adapt to evolving cyber threats and maintain the highest level of security for both customers and employees. Additionally, engaging with cybersecurity experts, participating in industry forums, and staying informed about the latest security trends are essential components of a dynamic and effective online banking security strategy.