Assessment of Security Issues in Banking Sector of Libya

Abstract

Information security in the banking sector is heavily controlled as banks store and manage their clients’ private information. Information security has always been the responsibility of the information technology (IT) department in organizations. Banks have become a component of the internet and daily lives. Libyan banks facade limited cash due to the part up political circumstance since 2014, as a result of limited cash individuals incapable to get their salaries. To solve this problem, most of Libyan banks are set up online electronic installment arrangements to assist individuals in buying their day by day needs. However, Cyber-attacks increasing day by day, and this is the challenge facing by banking where data is critical. These incidents could be prevented by implementing adaptable countermeasures promptly and minimizing risk. In this paper, a framework is proposed to assess the information security issue in Libyan banks. The study aimed at the assessment of security strategy in Libyan banks to identify security gaps. To achieve the aim of this study data collected by interview information security staff to evaluate the current security strategy in Libyan banks