Cyber-Financial Services has been saved
The threat landscape within financial services is increasing even as organisations accept working practices suitable for a diminished threat landscape, representing a potential mismatch that could expose organisations to considerable risk.
With increased attacks from both organised criminal and state actors, regulatory bodies are not relaxing on the need to protect consumers and information.
With ransomware now the most significant threat facing organisations today and with the attacks becoming more sophisticated and challenging to prevent, building operational resilience to cyber risk in the financial services is a rapidly growing priority for regulators.
Businesses are willing to accept increased risk and a reduction in security and control requirements in order to facilitate business continuity measures:
- 60% of the workforce globally now work remotely
- Many organisations have reduced numbers of staff to deal with any arising issues from the increased risk
- Increased reliance on unapproved personal devices
- Large increase in number of endpoints with fewer security controls applied
- Sensitive documentation is being accessed from an increased number
of locations, which are less secure (e.g. call centre employees accessing confidential records from home
Find out more here.