Comparison between ISO 27001 and APRA CPS 234
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Overview
ISO 27001 and APRA CPS 234 are two standards for information security. ISO 27001 is an international standard that provides a framework for organizations to establish, implement, maintain and continually improve an Information Security Management System (ISMS). APRA CPS 234 is an Australian prudential standard that sets out the minimum information security requirements for regulated entities. Both standards are designed to help organizations protect the confidentiality, integrity and availability of information and systems. While ISO 27001 is a more general framework, APRA CPS 234 is tailored to the specific needs of the financial services industry. Both standards focus on risk management, but APRA CPS 234 also requires organizations to report incidents and security breaches.
Contents
What is ISO 27001?
ISO 27001 is an international standard for information security management systems (ISMS). It provides a framework for organizations to manage their information security risks and protect their information assets. It is based on a risk management approach and includes requirements for the implementation of security controls. The standard outlines the requirements for an organization to establish, implement, maintain, and continually improve an ISMS. It also includes requirements for the assessment and treatment of information security risks. ISO 27001 is a widely recognized standard for information security, and is used by organizations of all sizes, including governments and multinational corporations. It is also recognized by the European Commission as an acceptable standard for data protection.
What is APRA CPS 234?
APRA CPS 234 is a set of cybersecurity standards published by the Australian Prudential Regulation Authority (APRA) in July 2019. The standards are designed to ensure that all entities regulated by APRA, including banks, insurers, and superannuation funds, have adequate cybersecurity measures in place to protect their customers data and assets. The standards cover areas such as information security, system resilience, cyber incident management, and third-party security. They also require entities to conduct regular risk assessments and to develop and maintain appropriate policies, processes, and controls. APRA CPS 234 is intended to help protect customers from the growing threat of cybercrime and to ensure that entities regulated by APRA can meet their obligations under the law.
A Comparison Between ISO 27001 and APRA CPS 234
1. Both standards focus on the security of information and data.
2. Both standards require organizations to assess their risks and develop risk mitigation plans.
3. Both standards require organizations to develop and document policies and procedures to ensure the security of information and data.
4. Both standards require organizations to develop and implement security controls to protect the confidentiality, integrity and availability of information and data.
5. Both standards require organizations to monitor and review their security controls to ensure they remain effective.
6. Both standards require organizations to have a process for responding to security incidents.
7. Both standards require organizations to have a process for training staff on security policies and procedures.
The Key Differences Between ISO 27001 and APRA CPS 234
1. ISO 27001 is an international standard for Information Security Management Systems (ISMS), while APRA CPS 234 is an Australian Prudential Regulatory Authority (APRA) standard for cyber security.
2. ISO 27001 is focused on the management of information security risks, while APRA CPS 234 is focused on the protection of customer data.
3. ISO 27001 is a general standard, while APRA CPS 234 is specific to the banking and finance sector.
4. ISO 27001 requires the implementation of an ISMS, while APRA CPS 234 requires the implementation of a cyber security framework.
5. ISO 27001 is based on a risk-based approach, while APRA CPS 234 is based on a prescriptive approach.
6. ISO 27001 is focused on protecting information assets, while APRA CPS 234 is focused on protecting customer data.