What is ISO 27001 Information Security Compliance and Why is it in important in Financial Services

  Everything you need to know about the ISO 27001 international standard and why your financial institution should follow it. A BASIC UNDERSTANDING OF ISO 27001 ISO 27001 is an international standard that specifies the requirements for an information security management system, sometimes known as an ISMS. An ISMS is a policy and procedure framework that covers all legal, administrative, and technical controls engaged in an organization's integrated risk management operations. According to its literature, ISO 27001 was created to "give a model for the creation, installation, operation, surveillance, review, maintenance, and upgrading of an information security program." Information security has become a key concern for many firms as the risks associated with cyber-attacks and data breaches have grown. ISO 27001 is a comprehensive approach that combines people, processes, and technology to assist you with the management and protection of your organization's information...