Basel II Compliance

What is Basel II?
The Basel II Accord proposes methodologies for banks to calculate more accurately the capital provisions they should make against credit, commercial, and operational risk. Issued in June 2004, it replaces the outdated Basel I, which was adopted in 1988 and is currently used in more than 100 countries.

On July 16, 2008, federal banking and thrift agencies issued a final guidance outlining the supervisory review process for banking institutions that are implementing the new advanced capital adequacy framework (known as Basel II). The final guidance is aimed at helping banking institutions meet certain qualification requirements which took effect on April 1, 2008.

How do institutions comply with Basel II?
Basel II requires risk appraisal and control, in other words a risk management environment. In order to reduce operational risk, financial institutions must implement robust information security measures, including the protection of critical information traveling on the network. Information security measures must ensure the confidentiality and integrity of the institution's data, including protecting customer data from accidental or malicious disclosure.

How does CipherOptics help with Basel II compliance?
CipherOptics CipherEngine provides a comprehensive data protection solution that ensures the confidentiality, authenticity, and integrity of any data in motion, thereby mitigating the risk of data loss or theft.

The CipherEngine solution allows organizations to encrypt data across the network or the entire computing infrastructure using a global policy and key manager along with both hardware and software-based encryption enforcement points. The CipherEngine data protection solution offers best-of-breed performance, elegantly simple installation and management, and breakthrough scalability. CipherEngine gives you the power to protect data in motion wherever, however and whenever you want, without changes or disruptions to your network, your infrastructure, or your operations.

To discuss how CipherOptics can help you can comply with the Basel II Accord, call 1-877-878-6655 and speak directly with a CipherOptics encryption specialist or feel free to ask us a question

Learn more about Basel II

Learn More About:
Scope of Audit Reduction
Application Domain Security
Network Encryption