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Cyber defense Regulations and Statutes
The board of directors of My Local Bank, a privately owned institution in Burbank, California, is exploring the idea of taking the bank public. As part of the due diligence, the board members have hired you to explore the legal and regulatory environment pertaining to information security and privacy, and they have asked you to research and report back to them on the laws, statutes, and regulations that will influence their decision making. You are asked to identify specific laws, regulations, and statutes and to identify the lead agencies with which they would be required to work to ensure that they are in compliance prior to issuing stock for the IPO.
Use the study materials and engage in any additional research needed to fill in knowledge gaps. Write a 2–3 page paper that covers the following:
Describe five applicable federal, state, and local laws, regulations, or statutes that relate to cybersecurity.
Analyze the objectives and challenges of enforcing federal state and local cybersecurity laws, regulations, or statutes.Explain the current practice among federal, state, and local law enforcement related to jurisdiction and division of labor
Applicable Federal and State Regulations on Cyber security
There are three federal cyber security laws and regulations in California that aim at protecting infringement of information in computer systems. These regal regulations tend to lay focus on specific industries. These regulations include Health Insurance Portability and Accountability (HIPA) Act of 1996, which requires health organizations to protect their electronic data. Gramm Leach Bliley Act 1999 is among the cyber security regulations and was enacted by the U.S. congress. The act allows financial institutions and insurance companies to consolidate and mandates them to protect their electronic information through enacting control systems on their systems information. Another federal regulation on cyber security that operates in California is the Federal Information Security Management Act 2002 (FISMA). This Act serves as a control mechanism to restrict breach of system information in federal organizations. The US Computer Fraud and Abuse Act 1986 is another regulation that prohibits unauthorized access to system information by individuals. This Act has the power to prosecute anyone who accesses computer system information illegally (California Department of Justice, 2014). —————– order to have the whole paper done for you