A Secure Shell Guide for Basel II
(& Basel III)
"The Basel II accords comprise a set of international standards for the capital reserves banks must maintain in order to weather the potential consequences of financial and operational risks. Given that banking operations are highly IT intensive, the Basel committee determined that IT governance, risk and compliance (GRC) must play a role in determining risk adjusted capital reserve requirements. In short, a bank operating with substandard IT controls requires greater capital reserves in order to compensate for the increased operational risk. Thus, Basel II establishes incentives for banks around the world to maintain robust operational controls over their IT operations.
Secure Shell plays a vital role in IT operations. It is used by privileged users such as system administrators, database administrators and application developers. In the highly automated data centers of today, Secure Shell also enables automated data transfers, backups, cloud provisioning, log management, system health monitoring and so on. Because Secure Shell is so pervasive and has the potential to create great operational harm if misused, the Basel II control objectives for IT security include requirements that pertain to Secure Shell. This white paper explains the nature of the required controls."
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