De-risking India’s banking industry

Cyber Risk

This report presents the status quo of the cyber domain and provides a guide towards establishing a more robust, defensible and exhaustive cyber-risk management framework. It highlights how actionable threat intelligence - derived from a wide range of sources and well-defined governance processes, which instill cyber risk awareness, accountability and effective continuous adaption could fuel the digital progress across organizations.

Financial services firms should consider raising their level of preparedness and evolve into a new cyber risk management paradigm that strives to achieve three fundamental qualities:
1. Being secure against known threats through risk-driven investment in foundational, preventive controls, and policies
2. Being vigilant by improving the ability to detect emerging threats and anomalous patterns amid the highly complex and data-saturated environment; and
3. Being resilient to enable the organization to recover from attacks as quickly as possible and minimize both direct and indirect damages

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