The Banker: Data Security Underinvestment Leaves Financial Institutions in Peril

Banks and financial services companies worldwide have failed to invest sufficiently in the field of data security. This lack of investment has in turn impacted their customers, according to industry analysis.

The bad guys go after financial institutions, because that’s where the money is.

Bob Kolasky
Senior Vice President, Critical Infrastructure, Exiger Government Solutions

The Banker author Bill Lumley called upon Exiger’s Bob Kolasky, former assistant director for cyber security at the US Infrastructure Security Agency, to explain how data breaches have caused major financial institutions to improve cyber practices and make significant investments over the last 10 years.

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For related resources:

FCA Challenger Banks Review: Financial Crime Risk Assessment and Controls in Challenger Banks

Financial Times: Transport Systems Give Hackers a Moving Target

Managing Cyber Complexities in Supply Chain Risk Management