Investor Presentaiton
A collaborative approach is needed
Government
Strong leadership involvement is the foundation for a successfull and
effective transition. The Government should:
•
Create more awareness.
• Enact adequate regulations. The United States has over 25 Data
privacy laws and there are other several privacy laws in different
countries1.
• Monitor compliance with regulations and ensure punishment of
voilators. E.g. CBN guideliness for financial institutions to carry out
a vulnerability assessment, BCP, PCI DSS compliance, KYC, etc.
IT
Practitioners
•
Prepare for the worst; Set up adequate incident response team
Update IT Policy and other relevant policies (e.g. Transaction
processing) to reflect the transition to a cashless society.
• Continuous employee awareness.
•
Security should be considered at the requirements definition phase
and through out the development life cycle of products.
• Ensure technology infrastructures and configurations comply with
leading security practices.
Implement Information Security Strategy and Budget.
1. http://www.informationshield.com/intprivacylaws.html
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