• KSII Transactions on Internet and Information Systems
    Monthly Online Journal (eISSN: 1976-7277)

Rationalization of Network Segregation for Continuity of Financial Services Following COVID-19

Vol. 15, No. 11, November 30, 2021
10.3837/tiis.2021.11.016, Download Paper (Free):

Abstract

As measures for protecting users and ensuring security of electronic financial transactions, such as online banking, financial institutions in South Korea have implemented network segregation policies. However, a revision of such domain-centered standardized network segregation policies has been increasingly requested because of: 1) increased demand for remote work due to changes resulting from COVID-19 pandemic; and 2) the difficulty of applying new technologies of fintech companies based on information and communications technologies (ICTs) such as cloud services. Therefore, in this study, problems of the remote work environment arising from the network segregation policy currently applied to the financial sector in South Korea and those from the application of new ICTs such as fintech technology have been investigated. In addition, internal network protection policies of foreign financial sectors, such as those of the United States, United Kingdom, European Union, and Russia, and internal network protection policies of non-financial sectors, such as control systems, have been analyzed. As measures for the effective improvement of the current network segregation policy, we propose a policy change from domain-based to data-centric network segregation. Furthermore, to resolve threats of hacking at remote work, recently emerging as a global problem due to COVID-19 pandemic, a standard model for remote work system development applicable to financial companies and a reinforced terminal security model are presented, and an alternative control method applicable when network segregation is not applied is proposed.


Statistics

Show / Hide Statistics

Statistics (Cumulative Counts from December 1st, 2015)
Multiple requests among the same browser session are counted as one view.
If you mouse over a chart, the values of data points will be shown.


Cite this article

[IEEE Style]
M. Choi and J. Kwak, "Rationalization of Network Segregation for Continuity of Financial Services Following COVID-19," KSII Transactions on Internet and Information Systems, vol. 15, no. 11, pp. 4163-4183, 2021. DOI: 10.3837/tiis.2021.11.016.

[ACM Style]
Manyong Choi and Jin Kwak. 2021. Rationalization of Network Segregation for Continuity of Financial Services Following COVID-19. KSII Transactions on Internet and Information Systems, 15, 11, (2021), 4163-4183. DOI: 10.3837/tiis.2021.11.016.

[BibTeX Style]
@article{tiis:25108, title="Rationalization of Network Segregation for Continuity of Financial Services Following COVID-19", author="Manyong Choi and Jin Kwak and ", journal="KSII Transactions on Internet and Information Systems", DOI={10.3837/tiis.2021.11.016}, volume={15}, number={11}, year="2021", month={November}, pages={4163-4183}}