Financial ServicesSecurity, Regulation and Consumer Trends
A top target for cybercrime & cyberwarfare
It’s clear why a cyber attack on a bank or large financial services organisation is considered in the same way as a cyber attack on a nations energy or utilities. Such an impact on the commercial capabilities of a nation, would simply be as damaging as a loss of access to energy or clean water.
Consumer trends and secure development
“The potential for increasingly sophisticated fraud attacks mean it is important that firms continue to invest in implementing strong security measures for consumers” FCA (Financial Conduct Authority, Mobile Banking and Payments TR14/15)
The consumer demand for convenient, always-available solutions, and ‘snacking’ trend (where interactions are for short periods of time) has lead financial institutions to create a new wave of services to meet this demand, such as mobile banking. The FCA firmly states that security measures need to be inherent to the process of creating the products and form a conscious part of the core design. It is incumbent on firms to think laterally – and look ahead – in identifying risks and ensuring that there is room in the product budget and objectives to implement strong security accordingly. By providing an additional sense-check and expert services such as Penetration Testing, architectural and security reviews, Infosec Partners helps Financial Services clients to ensure that security-hardening is being carried out from the outset, and not simply tacked on as an afterthought.
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