ISO 27001 How to write Non-Conformities ISO 27001 implementation

[@kainatlateef7327]

Sir please suggest me,which Risk assessment framwork is applicable for finance sector..

[@LearnITSecuritywithLuvJohar]

In the finance sector, there are several risk assessment frameworks that can be applicable depending on the specific needs and regulatory requirements of the organization. Here are some commonly used risk assessment frameworks in the finance sector: COSO Enterprise Risk Management Framework: The Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework is widely used for enterprise risk management. It helps organizations assess, manage, and report on their risk management processes. The framework provides a structured approach for identifying, assessing, and mitigating risks. ISO 31000: ISO 31000 is an international standard for risk management. It provides principles, a framework, and a process for risk management that can be applied in various sectors, including finance. It offers a comprehensive approach to risk assessment and management. Basel II and Basel III: The Basel Committee on Banking Supervision has introduced risk assessment frameworks specifically for the banking industry. Basel II and Basel III provide guidance on capital adequacy, credit risk, market risk, and operational risk assessments. These frameworks are highly relevant to financial institutions. NIST Cybersecurity Framework: For financial institutions, especially those dealing with digital financial services, the National Institute of Standards and Technology (NIST) Cybersecurity Framework can be valuable for assessing and managing cybersecurity risks. FAIR (Factor Analysis of Information Risk): FAIR is a framework that focuses on the analysis of information risk. It's particularly relevant for financial institutions that deal with sensitive financial data and need to assess the risks associated with data breaches and information security. CAMELS (Capital Adequacy, Asset Quality, Management Quality, Earnings, Liquidity, and Sensitivity to Market Risk): CAMELS is a supervisory framework used by regulators to assess the overall condition of financial institutions, particularly banks. It covers a broad range of risk factors. Operational Risk Frameworks: Many financial institutions develop their own operational risk assessment frameworks, which are tailored to their unique risks and activities. These frameworks address risks related to internal processes, technology, and human factors. The choice of a risk assessment framework will depend on the specific requirements of the financial institution, including its size, complexity, and the nature of its activities. Additionally, regulatory bodies often have specific guidelines and requirements for risk assessment and management in the finance sector, and these should be taken into account when selecting a framework.

[@PoojaDhamke]

Sir please share the examples of NC report

[@LearnITSecuritywithLuvJohar]

An NC (Nonconformance) report is a document that details any deviation or nonconformance from established requirements, standards, or specifications. Here are some examples of situations that might warrant an NC report: A software application fails to meet a specified requirement or function, such as a user interface that does not display certain data or a calculation that does not provide accurate results. A physical product does not meet specified quality or performance standards, such as a product that fails to meet required dimensions or that exhibits defects or malfunctions. An employee fails to follow established procedures or policies, such as a failure to properly document work activities or a violation of company security policies. An external vendor or supplier fails to meet specified requirements or standards, such as a shipment that arrives with damaged or missing items, or that does not meet quality or performance standards. When an NC is identified, a report is typically generated that documents the details of the nonconformance, including the specific requirement or standard that was not met, the impact or potential impact of the nonconformance, and any corrective or preventive actions that are needed to address the issue. The report may also include a description of the root cause of the nonconformance, as well as any recommendations for improving processes or procedures to prevent similar issues in the future.

[@rajshekharreddyg2482]

How to collect evidence

[@LearnITSecuritywithLuvJohar]

Collecting evidence is a critical part of many investigations, audits, and legal proceedings. Here are some general steps to follow when collecting evidence: Identify the type of evidence needed: Determine the specific information or documentation that is relevant to the investigation or audit. Identify the sources of evidence: Determine where the relevant evidence is likely to be found. This could include electronic sources such as emails, files, or databases, as well as physical sources such as paper documents, equipment, or facilities. Plan the collection: Determine the most appropriate methods for collecting the evidence, based on the nature of the evidence and the sources. This could include forensic analysis of digital devices, interviews with witnesses, or physical inspections of facilities. Obtain authorization: Ensure that the collection of evidence is authorized, and obtain any necessary legal permissions or consents before proceeding. Collect the evidence: Follow the plan for collecting the evidence, being careful to preserve the integrity of the evidence and ensure that it is not altered or tampered with during the collection process. Document the collection: Keep detailed records of the evidence collection process, including the methods used, the location and source of the evidence, and any observations or notes. Secure and store the evidence: Store the evidence in a secure location, taking appropriate measures to protect it from damage or tampering. It's important to note that the specific procedures for collecting evidence may vary depending on the context and the specific types of evidence involved. In some cases, it may be necessary to engage specialized professionals, such as forensic analysts, to ensure that evidence is collected and preserved in a legally defensible manner.