A review of the effectiveness of C-RAF indicates a positive correlation between most banks’ risk scores and maturity scores. This shows that banks are actively combating cyber risks and threats. An intriguing finding indicates that although banks with medium risk scores have a good record in dealing with cybersecurity risks, they tend to have lower maturity scores when it comes to the standard factors of cybersecurity management.
Furthermore, while most banks tend to score high in product and technology services and response and recovery, organizational characteristics continue to have low scores. This reflects possible risks within their structures. In addition, the application of the Secure Socket Layer (SSL) also demonstrates the banks’ efforts in enhancing their cybersecurity systems.