What It Is

ISO/IEC 27032:2023, titled Cybersecurity – Guidelines for Internet Security, is an international guidance standard. It frames cybersecurity as an ecosystem activity, connecting information security, network security, Internet security, and critical infrastructure protection. Its risk-based approach emphasizes collaboration to manage cyberspace risks and incidents.

Key Components

• Multi-stakeholder roles and responsibilities
• Risk assessment, threat modeling, and controls mapped to ISO/IEC 27002
• Domains: access control, incident management, vulnerability management, supplier resilience
• Built on PDCA cycle; non-certifiable, complements ISO/IEC 27001

Why Organizations Use It

• Reduces legal exposure (e.g., NIS2, GDPR) and operational disruptions
• Enhances resilience, efficiency, and trust with stakeholders
• Provides competitive edge in regulated markets and supply chains
• Lowers breach costs via faster detection and response

Implementation Overview

Phased approach: scoping, gap analysis, controls deployment, monitoring. Applies to all sizes, especially online/networked operations. No certification; integrate via audits and exercises. (178 words)

What It Is

Basel III is the global regulatory framework issued by the Basel Committee on Banking Supervision (BCBS) post-2007-2009 financial crisis. It establishes prudential standards to strengthen bank resilience by improving capital quality and quantity, constraining leverage, and mandating liquidity buffers. The approach integrates risk-weighted assets (RWA) with non-risk-based metrics for comprehensive solvency.

Key Components

• **Three PillarsPillar 1 (capital ratios, leverage ratio, LCR/NSFR), Pillar 2 (supervisory review/ICAAP), Pillar 3 (disclosures).
• Minimums: CET1 4.5%, Tier 1 6%, Total capital 8%; leverage 3%; buffers (conservation 2.5%, countercyclical, G-SIB).
• Output floor caps internal model benefits at 72.5% of standardized RWA.
• Compliance through national implementation, no global certification.

Why Organizations Use It

Banks implement for mandatory regulatory compliance, enhancing resilience against shocks, reducing systemic risk, and improving RWA comparability. Benefits include better funding costs, investor confidence, and strategic balance-sheet optimization amid jurisdictional variations.

Implementation Overview

Multi-phased enterprise transformation: gap analysis, data/system upgrades, governance setup, stress testing. Targets internationally active banks globally; involves Pillar 3 reporting and supervisory audits.