The financial services industry is especially vulnerable to cyber attacks. ATM card skimming, Trojan botnets on web app logins, denial of service attacks, and vendor management problems plague financial services organizations, regardless of size. As the foundation upon which global economic systems sit, cyber attacks increasingly target banks and nonbank financial institutions (NBFI) which could lead to the next international financial crisis.
A look back at cyber breaches in 2018 provides three big lessons for companies,. Third party data access, leaky web apps, and risks from mobile and IoT devices provide some insight into where you will want to button up your data ecosystem in 2019. Automaion, AI, and employees training are the three things to focus on in the New Yeak.
Frameworks like Enterprise Risk Management help guide process. The technology recommended to enforce Integrated Risk Management are a natural and important followup. You need to understand both to make sure you mitigate and manage your exposure.