Shannon Simpson, cyber security and compliance director at Six Degrees, suggests an outsourced approach as one way to address security challenges
Financial institutions are under siege, falling victim to cyber security attacks 300 times more frequently than businesses in other industries. The growth in volume and sophistication of cyber-threats, combined with tightening regulations, mean that financial institutions are having to step up their security postures significantly.
Meeting contemporary cyber-threats head-on requires a high level of staff awareness and training, along with well-defined processes and sophisticated security systems that need to be closely monitored and managed. In addition, financial institutions deal with highly confidential data that needs to be stored and managed securely and in a compliant manner without unduly impacting on agility and business as usual (BAU) requirements.
This is no small task. When it comes