An Exploratory Study of the Relationships between Selected Contextual Factors and Information Security Concerns in Global Financial Services Institutions

Abstract

This paper examines the relationships between three contextual factors i.e. transparency levels, information and communication technologies (ICT) use laws, and national legal systems efficiency and information security concerns in the global financial services institutions (GFSI). This research essentially seeks to expand the breadth of knowledge provided in the 2009 Deloitte Touche Tohmatsu (DTT) survey, which reported on information security issues in GFSI. This current study used secondaly data sources for its analysis. The inference from the 2009 DTT survey was that information security concerns across GFSI are being informed solely by industryrelated standards or imperatives. To that end, perceptions and attitudes toward such issues were thought to remain unchanged in differing national contexts. However, this study's data analysis showed that the perceptions of information security concerns among GFSI employees across the world compare somewhat and also difler, in other respects. Also, this research's findings indicated that GFSI practitioners need to be aware of two information security concerns: a) how information security and business initiatives are appropriately aligned in their organizations, b) the issue of who has the responsibility for privacy in their setups. Against the backdrop of the countries used in this study and the three contextual factors considered, this study found that these two issues to be signz3cantly relevant to the management of security and privacy concerns in GFSI. The implications of the study' findings for practitioners and academic researchers are discussed, and possible areas of kture research outlined.

What could possibly go wrong? A multi-panel Delphi study of organizational social media risk

“…First, we modified the organizational environment dimension, which focused on the inherent industry risk, to a broader organizational risk environment encompassing the full risk landscape for an organization that uses social media. In doing so, we stress the need for an accurate risk assessment that moves beyond those inherent to an industry and includes: risks from insiders (Ifinedo 2011), employee use of social media, industry risks (Kankanhalli et al 2003) such as legal or regulatory issues that arise from the use of social media, and other nontechnical risks (Spears and Barki 2010). Second, we modify the individual differences dimension to more accurately depict the risk assessment and planning process that organizations utilize when adopting a new technology.…”

Employees' non-malicious, counterproductive computer security behaviors (CCSB) in Nigeria and Canada: An empirical and comparative analysis

“…For illustration purposes, the socioeconomic factors considered herein are national wealth (GDP), transparency levels (COPT) and country literacy rates (EDUC). Previous IS security-related studies that considered such factors found them to the pertinent to the discourse [12][13][14][15][16].…”

“…For the economic variable, we used gross domestic product (GDP) per capita, which refers to a country's gross domestic product divided by its population; it is generally considered an indicator of a country's standard of living or wealth and often used as a differentiator in prior research [10,11,14]. Literacy rates refer to the percentage of people in a country that are literate, that is, able to read and write.…”

“…This is because diffusion of technological innovations, acceptance of IS security and privacy practices, indulgence in antisocial computer practices, and so forth have been known to differ by regional locations or contexts [10][11][12]. Some of the differences have been attributable to socio-economic and cultural underpinnings of societies [13][14][15].…”

Technology Of Trust: Safely In, Securely Out System (E-Siso)

“…Current organizations depend on information systems (IS) for their existence; this is because such systems often hold treasured organizational data resources (Cavusoglu et al, 2004;Richardson, 2011;Ifinedo, 2009Ifinedo, , 2011Ifinedo, , 2012. To protect the main IS assets held in such systems from misuse, abuse and destruction; organizations often utilize a variety of methods such as installing firewalls, updating anti-virus software, backing up their systems, maintaining and restricting access controls, using encryption keys, using surge protectors, and using wide-ranging monitoring systems (Ryan, 2004;Workman, Bommer and Straub, 2008;Lee and Larsen, 2009).…”