Following the recent news of the fire incident at Zitouna Bank, we feel that it’s our duty as experts in the banking and IT security field to raise awareness about the importance of physical security and Business Continuity Plan (BCP) in such cases.
Read More: Why physical security and Bussiness Continuity plan ISO22301 are Crucial.According to the SWIFT CSP standard, physical security is crucial for keeping your employees, facilities, and assets safe from real-world threats that can arise from internal or external intruders. These threats can compromise data confidentiality, integrity, and availability. Therefore, it’s necessary to implement a set of physical security controls, which includes a security control room that conducts real-time surveillance and analysis of any events in order to deter, detect, and respond to any suspicious actions in time to reduce the damage of incidents. The control room system must integrate different systems such as access control, CCTV, and an alarm system to monitor the entire environment at all times.
To further enhance security, banks should consider obtaining ISO 22301 certification. This standard requires banks to have a business continuity plan in place that includes procedures and measures to protect critical data, systems, and infrastructure, as well as the ability to shift operations to alternative sites in case of unexpected disruptions. The main objectives of the BCP are as follows:
- Maintain business activity in case of disruption
- Protect assets
- Reduce the cost of business interruption
- Enhance reputation and increase competitiveness
- Meet legal and regulatory requirements
- This plan should be tested regularly to ensure that it’s effective and up-to-date.
It’s important to be aware of the potential impact of such incidents that could result in data loss, financial loss, lawsuits, and penalties. With a BCP in place, you’ll be prepared to face any disruptions that may occur.
At Banking Intelligence Consulting, our experts are ready to help you maintain your bank’s security based on international standards and our extensive experience in the field. Your security is our guarantee.