Security in information systems has increased importance, as end users have become more responsive of securely sharing or exchanging the vast amount of information. The organizations that do sensitive work such as those with defense contracts, passport issuing agencies, military activities, and health care data at health-insurance, are in need of protecting their information. Nowadays, financial institutions providing various online services to customers are facing situation with customers who submit fake documents for getting services. To defend from that situation, financial institutions enquire customer information at various government departments against the customer submitted proof documents to rovide service to customer. In this study, secure and trusted information sharing environment is a vital requirement to make users interact and share data easily and securely across various networks. The prime challenge is to evaluate the trust of financial institution that characterizes secure information sharing in various government departments. The secondary challenge would be a development of communication protocol that securely exchanges information among various financial institutions and various government organizations. This paper emphasis on policy and trust-based secure protocol that offers confidential and authenticated, and trusted information sharing among financial institutions and government departments without creating any problems to information security by using cryptographic hash, private and public key encryption algorithms, and trust evaluation techniques. Furthermore, it facilitates non-privacy preserving information sharing with probable restrictions based on the rate of trust factor of financial institutions. This protocol assures that secure and stream- lined information sharing among financial institutions and government departments leads to avoid intimidating activities. The experimental results show the effectiveness of the proposed policy and trust-based information sharing approach.

information security information sharing policies trust factor private and public key cryptography Secure Hash Algorithm(SHA-1) Credit Information Bureaus of India Limited (CIBIL).