Question

Outline the THREE (3) security policy audience and discuss for each of them in the banking sector.

Answer 1

In the banking sector, security policies cater to three main audiences: customers, employees, and regulatory agencies. These policies aim to protect customer data, ensure employee compliance, and meet regulatory requirements.

Step-by-step explanation:

In the banking sector, there are three main audiences for security policies. These audiences include:

1. Customers: Customers of banks need to be assured that their personal and financial information is secure. Security policies aim to protect customer data and prevent unauthorized access to accounts and transactions.
2. Employees: Employees of banks play a vital role in maintaining security. They need to be aware of security policies, follow best practices, and report any suspicious activities. Security policies address employee training, access control, and incident response to ensure the security of the bank's operations.
3. Regulatory Agencies: Regulatory agencies, such as the Federal Reserve and the Office of the Comptroller of the Currency (OCC), oversee the banking sector and enforce compliance with security regulations. Security policies provide guidance for banks to meet regulatory requirements and maintain a secure environment.

Each of these audiences has specific security concerns and requirements that are addressed through security policies in the banking sector.