Convene and the SAMA Framework: Complying with Saudi Arabian Guidelines for Financial Institutions
In recent years, our reliance on technology to provide basic services has grown rapidly. Examples of these include banking and shopping among many others. This reliance requires us to entrust our personal information to these providers, and puts us in a more vulnerable position if the measures that are put in place to protect our data is inadequate. As such, standards and frameworks for cyber security are being developed by regulatory bodies to ensure that a certain standard of cyber security is achieved. In some cases, especially those involving financial institutions, compliance with these standards is mandatory and required for an organisation to provide a digital service. Although the specifics may change depending on industry and region, there is usually a large overlap between each standard.