Learning Objectives:

  • Identify key regulatory requirements for cybersecurity in banking.

  • Understand data protection laws and their implications.

  • Explain the role of compliance in cybersecurity governance.

6.1 Key Regulatory Requirements

Financial institutions must comply with a range of regulatory requirements for cybersecurity . The IIBF syllabus covers “Regulatory Mechanism in Banks” including RBI guidelines .

RBI’s Cyber Security Framework & Measures for Banks:
The H.L. College of Commerce syllabus covers “RBI’s Cyber Security Framework & Measures for Banks” .

Data Privacy Laws:
The H.L. College of Commerce syllabus covers “Data Privacy Laws (DPDP Act 2023, RBI’s Data Localization Norms)” .

EBA Guidelines:
The Egyptian Banking Institute course covers “EBA guidelines on security of internet payments” and “EBA opinion on strong authentication” .

FATF Standards:
The Egyptian Banking Institute course covers “FATF and money laundering deterrence” .

6.2 Data Protection Laws

The H.L. College of Commerce syllabus covers “Data Privacy Laws (DPDP Act 2023, RBI’s Data Localization Norms)” .

DPDP Act 2023: India’s Digital Personal Data Protection Act.

RBI’s Data Localization Norms: The H.L. College of Commerce syllabus covers “RBI’s Data Localization Norms” .

6.3 Information Systems Audit

The IIBF syllabus covers “Information Systems Audit” as a core module, including “Audit Types, Planning, COBIT, Reports” .

Audit Types:

  • Internal Audit: Conducted by the bank’s internal audit function.

  • External Audit: Conducted by independent auditors.

  • Regulatory Audit: Conducted by regulators.

COBIT: A framework for IT governance and control.

Audit Reports: The IIBF syllabus covers “Reports” as part of information systems audit .

6.4 Compliance and Governance

The SUSS course covers “Regulatory and compliance framework” as a core topic . The IIBF syllabus covers “Security Governance” including compliance and monitoring .

Compliance Monitoring:
The IIBF syllabus covers “Compliance and Monitoring” as part of security governance .

Security Standards:
The IIBF syllabus covers “Security Standards & Best Practices” including ISO 27001, COBIT, and the CIA Triad.

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