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Informative Article | Engineering Science | India | Volume 10 Issue 12, December 2021 | Popularity: 4.4 / 10

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Safeguarding Financial Data in the Virtualized Era: A Risk - Based Approach to Security Architecture

Raja Venkata Sandeep Reddy Davu

Abstract: Digital financial institutions use technology to handle operations, consumer data, and transactions, making data security essential. This Study suggests a risk - based security architecture to safeguard financial data and combat escalating cybersecurity threats. Due to technical improvements, regulatory requirements, and advanced cyber threats, financial organisations face unprecedented data security concerns. Risk - based security techniques evaluate and prioritise cybersecurity threats by impact and probability. Targeting the biggest gaps may help organisations defend against cyberattacks and keep customer trust. Risk assessment and management, safe network configurations and segmentation, effective IAM, data encryption and tokenization, continuous security monitoring, and robust incident response are part of risk - based security architecture.

Keywords: Financial data security, Network security, Risk - based security architecture, Cybersecurity, Risk assessment

Edition: Volume 10 Issue 12, December 2021

Pages: 1535 - 1539

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