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Cyber-Financial Services

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.

Industry Trends

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.

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Colm McDonnell

Colm McDonnell

Partner | Head of Risk Advisory

Colm leads our Risk Advisory practice in Ireland specialising in security risk, regulatory and control assurance and consulting assignments. The Risk Advisory practice provides a large range of assura... More