Abstract
In this paper, we analyze relationships between EFT (Electronic Financial Transaction) Act of Korea and risk assessment standards and propose the map that helps financial institutions determine the priority of security control areas. It is a new method for financial information security risk identification and assessment through correlation analysis between the variety security standards and requirements. We attempt to integrate different information security standards and propose risk assessment measures specializing in financial companies based on the mixed methods of quantitative and qualitative methods to determine the priority through the calculation of weights. From the results of correlation analysis, three main security control areas are found to be more important than other areas and it can be utilized as a risk management measure about security countermeasures. In addition, financial companies should improve three main security control areas in an interval of at least 10 months. We expect that our result can be provided to security manager and IT auditor for establishment of risk mitigation strategies as basic data.
| Original language | English |
|---|---|
| Pages (from-to) | 191-200 |
| Number of pages | 10 |
| Journal | International Journal of Security and its Applications |
| Volume | 6 |
| Issue number | 4 |
| Publication status | Published - 2012 Dec 1 |
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Keywords
- Financial information security
- Risk assessment
- System dynamics
ASJC Scopus subject areas
- Computer Science(all)
Cite this
Compliance risk assessment measures of financial information security using system dynamics. / Kim, Ae Chan; Lee, Su Mi; Lee, Dong Hoon.
In: International Journal of Security and its Applications, Vol. 6, No. 4, 01.12.2012, p. 191-200.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Compliance risk assessment measures of financial information security using system dynamics
AU - Kim, Ae Chan
AU - Lee, Su Mi
AU - Lee, Dong Hoon
PY - 2012/12/1
Y1 - 2012/12/1
N2 - In this paper, we analyze relationships between EFT (Electronic Financial Transaction) Act of Korea and risk assessment standards and propose the map that helps financial institutions determine the priority of security control areas. It is a new method for financial information security risk identification and assessment through correlation analysis between the variety security standards and requirements. We attempt to integrate different information security standards and propose risk assessment measures specializing in financial companies based on the mixed methods of quantitative and qualitative methods to determine the priority through the calculation of weights. From the results of correlation analysis, three main security control areas are found to be more important than other areas and it can be utilized as a risk management measure about security countermeasures. In addition, financial companies should improve three main security control areas in an interval of at least 10 months. We expect that our result can be provided to security manager and IT auditor for establishment of risk mitigation strategies as basic data.
AB - In this paper, we analyze relationships between EFT (Electronic Financial Transaction) Act of Korea and risk assessment standards and propose the map that helps financial institutions determine the priority of security control areas. It is a new method for financial information security risk identification and assessment through correlation analysis between the variety security standards and requirements. We attempt to integrate different information security standards and propose risk assessment measures specializing in financial companies based on the mixed methods of quantitative and qualitative methods to determine the priority through the calculation of weights. From the results of correlation analysis, three main security control areas are found to be more important than other areas and it can be utilized as a risk management measure about security countermeasures. In addition, financial companies should improve three main security control areas in an interval of at least 10 months. We expect that our result can be provided to security manager and IT auditor for establishment of risk mitigation strategies as basic data.
KW - Financial information security
KW - Risk assessment
KW - System dynamics
UR - http://www.scopus.com/inward/record.url?scp=84872844756&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84872844756&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:84872844756
VL - 6
SP - 191
EP - 200
JO - International Journal of Security and its Applications
JF - International Journal of Security and its Applications
SN - 1738-9976
IS - 4
ER -