Electronic Security : RiskMitigation in Financial Transactions - Public Policy Issues

Glaessner, Thomas ; Kellermann, Tom ; McNevin, Valerie

World Bank, Washington, DC

关键词: ELECTRONIC TECHNOLOGY;    SECURITY SYSTEMS;    RISK MANAGEMENT;    FINANCIAL MECHANISMS;    POLICY FORMATION;   

DOI  :  10.1596/1813-9450-2870
RP-ID  :  WPS2870

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper builds on a previous seriesof papers (see Claessens, Glaessner, and Klingebiel, 2001,2002) that identified electronic security as a key componentto the delivery of electronic finance benefits. This paperand its technical annexes (available separately athttp://www1.worldbank.org/finance/) identify and discussseven key pillars necessary to fostering a secure electronicenvironment. Hence, it is intended for those formulatingbroad policies in the area of electronic security and thoseworking with financial services providers (for example,executives and management). The detailed annexes of thispaper are especially relevant for chief information andsecurity officers responsible for establishing layeredsecurity. First, this paper provides definitions ofelectronic finance and electronic security and explains whythese issues deserve attention. Next, it presents a pictureof the burgeoning global electronic security industry. Thenit develops a risk-management framework for understandingthe risks and tradeoffs inherent in the electronic securityinfrastructure. It also provides examples of tradeoffs thatmay arise with respect to technological innovation, privacy,quality of service, and security in designing an electronicsecurity policy framework. Finally, it outlines issues inseven interrelated areas that often need attention inbuilding an adequate electronic security infrastructure.These are: 1) The legal framework and enforcement. 2)Electronic security of payment systems. 3) Supervision andprevention challenges. 4) The role of private insurance asan essential monitoring mechanism. 5) Certification,standards, and the role of the public and private sectors.6) Improving the accuracy of information on electronicsecurity incidents and creating better arrangements forsharing this information. 7) Improving overall education onthese issues as a key to enhancing prevention.