350-201 Question 19
Select 3A company in the financial services industry is planning to implement a cybersecurity framework to ensure compliance with industry standards and protect customer data. Which of the following compliance standards are most relevant to their industry?
- A
PCI DSS
- B
FISMA
- C
SOX
- D
GDPR
- E
FedRAMP
- F
ISO 27001
Show answer and explanation
Correct answers: A, C, F
Explanation
The financial services industry must comply with standards like PCI DSS for payment processing, SOX for financial reporting and data security, and ISO 27001 for robust information security management systems. These frameworks address specific risks and regulatory demands pertinent to this sector, ensuring customer data and financial information are adequately protected.
- A. Correct.
PCI DSS (Payment Card Industry Data Security Standard) is specifically designed for organizations handling payment card transactions, which is highly relevant to the financial services industry.
- B. Incorrect.
FISMA (Federal Information Security Management Act) is primarily applicable to U.S. federal agencies and their contractors, not directly relevant to the financial services industry.
- C. Correct.
SOX (Sarbanes-Oxley Act) establishes requirements for financial reporting and data protection, making it critical for organizations in the financial services sector.
- D. Incorrect.
GDPR (General Data Protection Regulation) focuses on data privacy and protection for EU citizens. While important for global businesses, it is not industry-specific to financial services.
- E. Incorrect.
FedRAMP (Federal Risk and Authorization Management Program) is related to cloud services for U.S. federal agencies, not specifically relevant to financial services companies.
- F. Correct.
ISO 27001 is an international standard for information security management, highly relevant to financial services organizations looking to fortify their cybersecurity posture.