Compliance with regulatory, legislative and contractual requirements for cyber security and its impact on the continuity of the Jordanian banking sector

Abstract

This study aimed to research the compliance of the banking sector with the regulatory, legislative, and contractual requirements of cybersecurity and its impact on its continuity. The study focused on the Jordanian banking sector. A questionnaire was designed as a tool for the study and developed in a manner that covers all the variables of the study. It was distributed to the banking sector, with a total of 105 questionnaires distributed. Of these, 100 were recovered, representing a 95% response rate, which was used for hypothesis testing. Regarding the organizational, legislative, and contractual requirements of cybersecurity on the continuity of the Jordanian banking sector, the support of bank administration to the cybersecurity operations team and the provision of plans through which cybersecurity strategies are implemented are crucial to ensure the success of its tasks. The study recommends that banking sector departments conduct a comparison between their legislative requirements and international, global security standards when choosing passwords to protect their critical systems and data. Banks must also pay more attention to regulatory requirements, followed by contractual and legislative requirements.