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Dated: 11-11-2024

Ch01. what is the Role of a Regulator

  • Cyber attack can have devastating consequences causing financial loss and disruption of critical infrastructure.
  • Cyber security has become a key risk factor putting under threat not only consumer rights protection, but also viability and health of the industry itself.
  • A cybersecurity regulation comprises directives that safeguard information technology and computer systems with the purpose of forcing companies and organizations to protect their systems and information from cyber-attacks (Wikipedia).

Role of Regulator in Cyber Security

  • Regulations, guidelines, and audit
  • Engagement of key stakeholders
  • Technical and industry expertise
  • Regional and international cooperation
  • Regionally, the most well developed cyber security strategy and framework developed by Singapore (ITU rank # 1), Malaysia (ITU rank # 3), and Oman (ITU rank # 4)

Singapore

  • Cyber Security Agency (2015); strategy, education, outreach, eco-system development
  • National Cyber Security Master Plan 2018 (created 2013)
  • Cyber Security Strategy (created 2016)

Pakistan Ministry of it (MOIT)

  • National IT Policy 2016 (draft)
  • Digital Pakistan Policy 2017

Pakistan State Bank of Pakistan (SBP)

  • Enterprise Technology Governance & Risk Management Framework for Financial Institutions (30 May 2017)

Pakistan Lacks

  • National cyber security strategy
  • National cyber security master plan
  • National cyber security agency
  • National certification & accreditation body
  • National Computer Emergency Response Team (CERT)
Post Assessments
Regionally, the most well developed cyber security strategy and framework developed by
  • Singapore
  • Malaysia
  • Pakistan
  • Oman
In terms of cyber security regulation, CERT stands for
  • Computer Emergency Response Time
  • Computer Emergency Response Team
  • Common Emergency Response Time
  • Common Emergency Response Team