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Why the US financial sector is supporting a single framework to combat cyber crime

As the number of data breaches across America mounts, many financial firms are starting to feel the blow.

BOISE, IDAHO, USA, February 17, 2014 /EINPresswire.com/ -- As the number of data breaches across America mounts (including recent incidents from Target and White Lodging), many financial firms are starting to feel the blow.

Banks are having to step up to the mark and compensate the millions of customers who are being compromised. The cost involved for re-issuing debit and credit cards that were at the risk from fraud is estimated to be at just under $300 million, according to the Consumer Bankers Association survey.

In order to protect their customers, the financial sector believes banks and retailers needs to work together to provide better protection for their customers, by supporting a single national standard.

IT Governance regards implementing an information security management system (ISMS) in line with ISO 27001, the globally-accepted information security standard, to help combat cyber crime. The standard is recognized worldwide and has been proven to mitigate cyber crime and reduce risks for consumers and retailers.

For organisations considering implementing an ISMS aligned to ISO 27001, the ISO 27001 2013 ISMS Standalone Documentation Toolkit is a cost-effective and time-saving option. It provides all the pre-written documentation needed to create and manage an ISO27001-compliant ISMS within an organization of any size or sector. Authored and developed by information security gurus, this toolkit contains tried and tested documentation that helps you avoid ‘re-inventing the wheel’ when it comes to management systems.

Find out more here: http://www.itgovernanceusa.com/shop/p-1382-iso27001-2013-isms-standalone-documentation-toolkit.aspx

Melanie Watson
IT Governance
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