Privacy and security
Introduction
- Privacy and security are the primary concerns in the world of cyberspace
- Personal information can be protected by implementing the privacy guidelines
- Both security and privacy are considered as overlapping concepts
- However, in a digitally connected world, both the concepts are closely linked
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Cont.
Problem statement
- Privacy issues exist because customers often agree to disclose their information to the marketers
- The connected world is witnessing rapid compromise of sensitive information
- Cybercriminals now have complete access to the bank databases
- Information is now exposed to the cybercriminals
- There is a need for drawing comparisons between the effectiveness of security and privacy measures
Cont.
Goal
- The goal is to draw a comparison between security and privacy policies in cyberspace that might be useful in ensuring the protection of information.
Research questions
- To understand the ways in which US-based firms ensure the privacy of confidential information
- To understand the extent of privacy and security measures in the organizations
- To identify issues that firms might encounter while ensuring security and privacy
- To find ways of mitigating the issues
Cont.
Barriers to research
- Issues encountered due to lack of research experience
- Familiarity was missing while selecting relevant journals and articles
Literature review
It is a process by which scholarly articles and journals are selected in a systematic manner. The purpose is to understand the existing literature based on the chosen area of research.
Cont.
- Research on privacy initiatives taken by banks has been conducted.
- The U.S banks have managed to form a lasting relationship with customers by implementing the Online Privacy Policy.
- Customer information is collected and shared using strict security protocols only.
Cont.
- In the digital age, information is now getting stored and disseminated in a faster way.
- The legal researchers are concerned about the rising power of cyberattackers
- They have been gaining access to sensitive data, and it has created concerns in the cyberspace.
- Security measures such as the Europay and MasterCard have gained prominence.
- Fraudulent transactions are more common in non-financial institutions because they are less likely to invest in security.
Methodology
- The process through which information on the chosen topic can be gathered and analyzed is known as a research methodology.
- The researchers can evaluate the validity and reliability of the research.
Cont.
- In this paper, a secondary method has been employed because it is less time-consuming.
- Literary sources have been chosen from Google Scholar and Proquest.
- The secondary process is less hazardous and more convenient.
Findings and discussion
- One of the effective methods of securing information is the Online Privacy Policy.
- Non-financial institutions are least likely to make investments on security measures.
- The U.S citizens have been deprived their freedom of privacy on online platforms.
- Legal communities should actively pay attention to the security needs of firms.
- Further regulation of information is crucial in cyberspace.
Conclusion and recommendations
- It can be concluded that both security and individual privacy should be considered by firms.
- Active steps have been taken to ensure privacy. However, further effort is needed to ensure the security of the digital assets.
- It can be recommended that firms should use anti-malware and anti-spyware software for enhancing the security of organizations.
- Intrusions should be monitored to ensure the continuance of operations of the business
- Lastly, awareness within financial as well as non-financial institutions is necessary for protecting the digital assets of the firm.
- Cybersecurity cannot be comprised in any form.
References