Glossary

B

BaFin
The Federal Financial Supervisory Authority (BaFin) brings together the supervision of banks and financial services providers, insurance undertakings and securities trading under one roof. It is an autonomous public-law institution and is subject to the legal and technical oversight of the Federal Ministry of Finance in Germany.
Basel II
The sum of the equity capital requirements recommended by the Basel Committee on Banking Provisions aimed at ensuring adequate equity capital among institutions and creating uniform competitive conditions with respect to awarding credits and trading with credits.
Basel III
The reform package of the Bank for International Settlements (BIZ) on the existing bank regulation policy Basel II. It represents the reaction as of 2013 to the weaknesses of the previous bank regulations that became evident after the global financial and economic crisis that started in 2007.
BYOD
BYOD (Bring Your Own Device) describes the trend that calls for employees to bring their own devices to work more often and thus access servers. This development is becoming more and more common in modern workplaces and is no longer the exception.

C

Compliance
Conformance with the rules - observing laws and regulations in companies, but also voluntary codes.

F

FINRA
The Financial Industry Regulatory Authority (FINRA) is the approval authority in the USA that is mainly responsible for overseeing people who have anything to do with the securities industry. The FINRA is an organization that regulates itself and is thus not directly a government authority.

H

HIPAA
The Health Insurance Portability and Accountability Act says that all organizations in the healthcare industry must obey strict rules on protecting secrecy and the integrity of patient data.

I

IFRS
The International Financial Reporting Standards (IFRS) are international accounting standards for companies that are published by the International Accounting Standards Board (IASB). They are intended to regulate the preparation of internationally comparable annual balances and financial statements independent of national legislation.

K

KonTraG
Law on monitoring and transparency with companies - A regulation that forces company management to implement and operate a companywide early detection system for risks.
KWG
Kreditwesengesetz – The regulations of the KWG pertain to institutes and groups of institutes. Institutes in the sense of the KWG are credit institutes and financial services institutes. The KWG is referred to as “the law that governs the credit industry.”

M

Managed Security Service
MSS offers monitoring of availability, evaluation of protocol data (log data) on security incidents, proactive management of incidents, log management and rule-based and platform management (Change Management).
MDStV
The MDStV is the State Treaty on Media Services (Mediendienste-Staatsvertrag). The objective of this state treaty is to create uniform framework conditions in all states for the various usage possibilities of the following electronic information and communication services.
MiFID
The MiFID (Markets in Financial Instruments Directive) is a European Union (EU) regulation on harmonizing the financial markets in the domestic European market. The goal is to improve investor protection, increase competition and harmonize the European financial market.
Monitoring
Network Monitoring refers to monitoring and checking networks, their hardware (for instance servers, routers and switches) and services (for instance web servers, DNS services and e-mail services) on a regular basis.

P

PCI-DSS
The Payment Card Industry Data Security Standard is a set of rules on payment transactions that pertain to carrying out credit card transactions that are supported by all of the major credit card organizations.
Penetration Test
Simulation of a “hack” attack on individual computers or networks. Security weaknesses and gaps in the systems tested that potential attackers could use are identified.

R

Reporting
Detailed, personalized reports and objective analysis of the security condition of the network on a monthly basis.

S

SOX
The Sarbanes-Oxley Act of 2002 (SOX) is a US federal law designed to improve the public capital market in the US following company balance scandals. The objective of the law is to re-instill consumer confidence in the accuracy and reliability of the financial data that companies publish.

T

TDDSG
The Teledienstedataschutzgesetz (TDDSG) governs the protection of the data of those who use teleservices. A few of the aspects affected by the Teledienstedataschutzgesetz include the imprint on a page, collection of server statistics, all types of process developments, including contact forms in which users provide personal data.
TKG
The Telekommunikationsgesetz (TKG) is a German federal law that regulates competition in the area of telecommunications and ensures that the services offered are maintained.