Inter organizational Cyber Security Policies

Inter organizational Cyber Security Policies

Online Banking

As, Information remains one of the most critical asset of any organization, Banking sector is regarded as been dealing with the most sensitive information as it is accountable for handling all the sensitive data and personal details of the people. With the criticality to handle such sensitive information, the issues for its security rise up. In the current era with the ever increasing advancement in the technology the need to secure the data has equal importance and is something that is inevitable while dealing with the sensitive information.

Online Retail Banking has been long considered as an efficient way of catering people easily with the transactions and deposits done between a bank and individual via internet. However, the current security breaches issues like the bank's official website being hacked, the contents being modified without any knowledge, fraudulent emails being sent to the bank customers for any sort of monetary withdrawal or deposit or any other fake information being transferred to the customers. One of the major security breach issue that has been emerged previously over the surface of cyber security within the Retail Banking sector comprise of fake links been sent to bank's customers, the intention of which is solely to extract all the personal information of the customer including his bank account and credit card details for the sole purpose of money transaction by fake means (Maher, 2014).

However, there remain certain internal sources for the security breach especially within the commercial banking that essentially involves the employees of the banks been involved within such fraudulent activities, which might include external intrusion within the network of the Bank for snooping purposes to extract the transaction details being carried on, the ultimate consequences of which is related to the loss of critical data resulting in the monetary loss of not only the individual but degrading of the reputation of the Bank itself for not being efficient enough to take appropriate control measures for the dealing with the cyber security issues(Bidgoli,2006). The initial focus of the Banking sector has now aimed over the adoption of the embedded digital chips for the storage of the account information within debit and credit card, making data theft a difficult process for the hackers (Gordon, 2014).

B2B e-Commerce, e-Government

The web enable business-to -business (B2B) e-commerce has served as a main purpose for enhancing the inter organizational coordination facilitating people with web enabled transactions of the various services resulting in cost saving as well as providing the buyer organization with the sourcing opportunities. However, even though each stage of the B2B procurement is affected by web, which is determined not only by the process characteristics but also through the organization of the business units (Subramaniam & Shaw, 2002).

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