Abstract:
Data security has become a global issue due to the fact that it is the most valuable asset. Data leaks and security vulnerabilities have the potential to damage the global economy. Many modern nations, like Russia, China, and Malaysia, have adapted the NIST cyber security framework (2013) to their own needs and developed their own cyber security framework. In Pakistan, internet usage has increased dramatically in recent years, resulting in a rise in cyber security incidents. With the growth of information and technology, there has been a worldwide increase in cybercrime. At the national level, there was a perceived need to establish cyber laws, rules, and regulations to cope with cybercrime resulting from technological progress. Pakistan currently lacks adequate legislation to combat cyber dangers. In this context, a cyber legislation known as the Prevention of Electronic Crimes Act (PECA) was drafted and adopted in 2016 to address cyber-crime threats and offences. In following years, changes were made to meet new developing risks, however it is considered that there is a need to establish a cyber security framework that deals with cybercrime by combining these cyber laws, rules, and regulations, so that the threat of cybercrime may be dealt with efficiently. As a case study, cyber-crimes particular to the banking industry are emphasized and thus included in the research effort.
