Electronic Safety and Soundness : Securing Finance in a New Age
This monograph and its technical annexes identify and discuss four key pillars that are necessary to foster a secure electronic environment and the safety and soundness of financial systems worldwide. Hence, it is intended for those formulating policies in the area of electronic security and those working with financial services providers (such as executives and management). The detailed annexes of this monograph are relevant for chief information and security officers and others who are responsible for securing network systems. First, the monograph defines electronic finance (e-finance) and electronic security (e-security) and explains why these areas require attention. Next, it presents a picture of the emerging global security industry. Then, it develops a risk management framework to assist policymakers and practitioners in understanding the tradeoffs and risks inherent in using an open network infrastructure. It also provides examples of tradeoffs that may arise with respect to technological innovations, privacy, quality of service, and security in the design of an e-security policy framework. Finally, it outlines issues in four critical and interrelated areas that require attention in the building of an adequate e-security infrastructure. These are: (i) the legal, regulatory, and enforcement framework; (ii) external monitoring of e-security practices; (iii) public-private sector cooperation; and (iv) the business case for practicing layered e-security that will improve internal monitoring.
|This book is provided by The World Bank in its series World Bank Publications with number 15029 and published in 2004-02.|
|Contact details of provider:|| Postal: 1818 H Street, N.W., Washington, DC 20433|
Phone: (202) 477-1234
Web page: https://openknowledge.worldbank.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stijn Claessens & Thomas Glaessner & Daniela Klingebiel, 2002. "Electronic Finance : A New Approach to Financial Sector Development ?," World Bank Publications, The World Bank, number 14075, June.
- Robert C. Merton, 1995. "A Functional Perspective of Financial Intermediation," Financial Management, Financial Management Association, vol. 24(2), Summer.
- James J. McAndrews & William Roberds, 1999.
"Payment intermediation and the origins of banking,"
85, Federal Reserve Bank of New York.
- James J. McAndrews & William Roberds, 1999. "Payment intermediation and the origins of banking," FRB Atlanta Working Paper 99-11, Federal Reserve Bank of Atlanta.
- Fredric S. Mishkin & Philip E. Strahan, 1999. "What Will Technology Do to Financial Structure?," NBER Working Papers 6892, National Bureau of Economic Research, Inc.
- Francis M. Bator, 1958. "The Anatomy of Market Failure," The Quarterly Journal of Economics, Oxford University Press, vol. 72(3), pages 351-379.
- Claessens, Stijn & Klingebiel, Daniela, 1999. "Alternative frameworks for providing financial services," Policy Research Working Paper Series 2189, The World Bank.
- Robert Litan & William Isaac & William Taylor, 1994. "Financial Regulation," NBER Chapters,in: American Economic Policy in the 1980s, pages 519-572 National Bureau of Economic Research, Inc.
- James J. McAndrews, 1997. "Banking and payment system stability in an electronic money world," Working Papers 97-9, Federal Reserve Bank of Philadelphia.
- John A. Weinberg, 1997. "The organization of private payment networks," Economic Quarterly, Federal Reserve Bank of Richmond, issue Spr, pages 25-44. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:wbk:wbpubs:15029. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Breineder)
If references are entirely missing, you can add them using this form.