RBI Information Security(IS) Audit
Rapidly use of new Information Technologies by BANKS and Since then the use of technology by banks has gained further momentum. On the other hand, the number, frequency and impact of cyber incidents / attacks have increased manifold in the recent past, more so in the case of financial sector including banks.
In View of Threats to Banks RBI has put in place a robust cyber security/resilience framework at banks and to ensure adequate cyber-security preparedness among banks on a continuous basis.
RBI Circular : https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx?Id=1721
ISECURION Auditors can Support the Customers on Auditing the Banks based on the RBI requirements and Help the banks to adhere the regulatory requirements.
With ISECURION Certified Auditors
Implementing a Cyber Security Framework and conducting regular audits are crucial for banks to ensure the confidentiality, integrity, and availability of their sensitive information. Here are some benefits of conducting a Cyber Security Framework audit for banks, a well-executed Cyber Security Framework audit for banks provides a comprehensive evaluation of their security measures, helps in risk management, ensures regulatory compliance, and ultimately protects both the institution and its customers from cyber threats.
- Risk Mitigation
- Compliance with Regulations
- Protection of Customer Data
- Prevention of Financial Loss
- Business Continuity
- Protection of Intellectual Property
- Incident Response Improvement
- Enhanced Reputation and Customer Trust
- Competitive Advantage
The IS Audit is conducted per the Terms of Reference (TOR) and regulations outlined by the ICAI, RBI, and pertinent authorities. The NBFC along with the external auditor, should set an audit plan along with the scope of the current and previous audits if it wants to have an audit performed. The auditors will check the network systems and work environment against security controls, network controls, access controls, and electronic document controls once they obtain a plan of action for the IS Audit.
