If you’re in the financial services industry, you know it’s time to batten down the hatches. With the recent devastating cyberattack against Capital One, other attackers may be emboldened to probe the defenses of other financial services firms with the intent of finding similar vulnerabilities. In this environment, however, attackers may not be your only challenge.
If you’re part of a smaller organization, you probably have fewer resources to bring to bear than larger firms. In addition, leadership may back-burner your security concerns.
On the other hand, if you don’t surface your concerns and do everything to ensure that your organization complies with security regulations like the Bank Secrecy Act, the new NYDFS laws, SOX, and others, you run the risk of incurring heavy penalties.
There’s a way to thread the needle, however. If you successfully navigate these five challenges, you’ll have done everything in your power to make your company safer – deflecting attackers and satisfying regulators alike.
1. Your Concerns Are Not Front and Center
CEOs and board members are getting better about prioritizing information security – much more so than they were even as little as five years ago. With that said, maybe you got unlucky. Your CEO may not be one ...
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