Data Collection plan

Online Policies for Enabling Financial Companies to Manage Privacy Issues

Name: Sunil Kumar Parisa

Date:03/29/2020

University of Cumberland’s

ABSTRACT

Financial companies are under constant threats in the face of cyber-attacks, which are growing by the day. The companies usually implement measures that primarily focus on the deployment of technologies for suppressing the attacks. They do not consider user policies as essential elements that help curb the vulnerabilities. The policies put in place have a low level of enforceability, which lowers the impact of the plans. The research project will determine the relationship between policy enforceability and the vulnerabilities posed to a system by the internal and external users.

INTRODUCTION

Business companies in the financial sector have the responsibility of ensuring the data that belong to the customers are fully protected. Cyber-crimes are on the rise, and the approaches employed today are not entirely practical. Technological tools and measures are not efficient. They should be complemented by the behavioral standards that suppress the vulnerabilities in all the IT domains (Vincent, Higgs & Pinsker, 2015). Enforceable policies will ensure there is an integration of behavioral and technological measures for promoting data security and privacy.

LITERATURE REVIEW

Financial companies usually emphasize policies that guide the collection of customer and storage as well as access to the data by the internal and external users. These policies are relevant as they promote best practices at both levels. The companies have a belief that these are the areas that need closer monitoring and evaluation. However, the policies put in place are not always enforceable. A lack of enforceability creates a situation where the desired outcomes are not realized (Yeganeh, 2019). It explains why data breaches are still experienced even after such policies are formulated and implemented.

RESEARCH METHOD

To investigate the relationship between enforceability of the policies and the vulnerabilities that business organizations are exposed to, a case study method will be used. It is an essential tool that helps determine a causal relationship (White & McBurney, 2012). Also, it will provide insights that will inform the recommendations that need to be considered by the multiple business organizations in the financial sector. Credible data that are free of confounding variables must be collected, analyzed, and inferences drawn. Two data collection procedures will be utilized as follows.

i. Semi-structured interviews will be conducted to collect diverse data on the design and implementation of user and online policies. The interviewees will offer data that expound on the security and privacy positions of the systems.

ii. Independent observations will be made to inform the behaviors of the users, both internally and externally. The observations will collect insightful data that provide details on the user behaviors and enforceability of the policies.

CONCLUSION

The business organizations in the finance industry do not exploit user policies that should promote their data security. They do not consider the policies as crucial elements, which exposes them to cyber threats that mainly exploit user behaviors such as social engineering attacks. A case study approach will be adopted as it allows a researcher to gain an in-depth understanding of a particular problem. The trend will be thoroughly examined by the data that will be collected, analyzed, and a determination made. The insights from the data will inform the recommendations made, which the various business organizations, especially those in the financial sector, should consider.

References

Vincent, N. E., Higgs, J. L., & Pinsker, R. (2015). IT Governance and the Maturity of IT Risk Management Practices. Journal of Information Systems 31(1), 113-137.

White, T. L., & McBurney, D. H. (2012). Research Methods (9th ed.). New York, NY: Cengage Learning.

Yeganeh, K. (2019). Major Business and Technology Trends Shaping the Contemporary World (1st ed.). New York, NY: Business Expert Press.

Certification of Authorship

Submitted to (Professor’s Name): Dr. Mary Cecil

Course: __ITS 833________________

Student’s Name: __Sunil Kumar Parisa____

Date of Submission_03/29/2020_____________________

Purpose and Title of Submission: __Research Outline___________________

Certification of Authorship: I hereby certify that I am the author of this document and that any assistance I received in its preparation is fully acknowledged and disclosed in the document. I have also cited all sources from which I obtained data, ideas, or words that are copied directly or paraphrased in the document. Sources are properly credited according to accepted standards for professional publications. I also certify that this paper was prepared by (me) for this purpose.

Students’ Signature: ___________Date____03/29/2020________

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