International normative framework for information protection in banks and financial institutions through the example of constituting Basel agreements and determining operational risks

Abstract

International coordination of banking policies can be seen through the work of the Basel Committee, where the importance of security and protection of information in banks and other financial institutions highlights the Basel II agreement, as it identifies operational risk as one of the key risks for these entities. Based on the said agreement, the National Bank of Serbia adopted an accompanying norm, which does not exhaust the field of information protection in that sense, but represents a good basis for further elaboration of information protection systems in banks, through development of local security policies and other acts regulating information protection in them.