Trend Watch - Cyber risk - Threats, insights & the future
Updated: Dec 19, 2019
We're delighted to launch the ORIC International Q3 2019 Trend Watch report on 'Cyber risk - Threats, insights & the future'.
The cyber landscape is evolving. Cyber threats are becoming increasingly commonplace and financial services firms have the challenge of monitoring, assessing and mitigating a risk that is constantly changing and manifesting itself in different ways.
There is a need for firms to invest heavily in cyber awareness and training. People remain the weakest link in a security infrastructure and there is a need to enhance vulnerability assessments and monitoring through industry-wide sharing of information. This allows firms to better understand the threats and the lessons learned.
Third party risk should also be considered, and third parties should be seen as extensions of the business, with periodic confirmation/proof that appropriate review and testing have been carried out on third party systems.
Regulation worldwide will continue to drive better practices in data management and impose greater scrutiny on those that do not act in the best interests of their customers. This should play some role in ensuring firms continue to invest in infrastructure that treats customer data as a priority.
Discover more in our full report by clicking the following link: