Abstract
This paper examines the relationships between three contextual factors i.e. transparency levels, information and communication technologies (ICT) use laws, and national legal systems efficiency and information security concerns in the global financial services institutions (GFSI). This research essentially seeks to expand the breadth of knowledge provided in the 2009 Deloitte Touche Tohmatsu (DTT) survey, which reported on information security issues in GFSI. This current study used secondary data sources for its analysis. The inference from the 2009 DTT survey was that information security concerns across GFSI are being informed solely by industry-related standards or imperatives. To that end, perceptions and attitudes toward such issues were thought to remain unchanged in differing national contexts. However, this study’s data analysis showed that the perceptions of information security concerns among GFSI employees across the world compare somewhat and also differ, in other respects. Also, this research’s findings indicated that GFSI practitioners need to be aware of two information security concerns: a) how information security and business initiatives are appropriately aligned in their organizations, b) the issue of who has the responsibility for privacy in their setups. Against the backdrop of the countries used in this study and the three contextual factors considered, this study found that these two issues to be significantly relevant to the management of security and privacy concerns in GFSI. The implications of the study’ findings for practitioners and academic researchers are discussed, and possible areas of future research outlined.
Additional information
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Princely Ifinedo
Princely Ifinedo is an Associate Professor at Cape Breton University, Canada. He earned his PhD in Information Systems Science from the University of Jyväskylä, Finland. He obtained an MBA in International Management from Royal Holloway, University of London, UK. His current research interests include IS security and privacy management issues, Global IT management, ERP system success measurement, and IT adoption in SME and Healthcare. His papers have appeared in such journals as Computers in Human Behavior, Journal of Computer Information Systems, Information Management & Computer Security, Enterprise Information Systems, International Journal of Information Security and Privacy, Journal of Global Information Technology Management, and Journal of Organizational Computing and Electronic Commerce. He has authored (and co-authored) about 70 peer-reviewed papers, and he is affiliated with AIS and ISACA.