Banks Challenged By Cybersecurity Threats, State Regulators Acting

Banks Challenged By Cybersecurity Threats, State Regulators Acting

“A new report concludes that while financial institutions have taken significant steps to bolster cyber security efforts, they will continue to be challenged by the speed of technological change and the increasingly sophisticated nature of threats.”

Targeting banks is an easy process for the cyber criminal – it REALLY is where the money is.   That is why the banking industry should be at the forefront of creating awareness in the cyber security arena.

Banks can do everything correct, the right technology, management and compliance.   Right down to enforcing complicated passwords but all it takes is a user to become infected with a high end malicious application and it all goes right out the window.

Awareness of the dangers of the digital world needs to be enforced across all areas, this will create a personal cybersecurity envelope around all users.

Roger Smith, is an educator. Teaching students at ADFA (UNSW) and showing them how vulnerable they are to cybercrime.

He is also CEO at R & I ICT Consulting Services Pty Ltd, an Amazon #1 author on Cybercrime and founder of the SME Security Framework. He is a Consultant who specialises in inexpensive and highly effective security strategies for small and medium businesses and not for profit organisations.

He has developed and authored the SME Security Framework and the Security Policy Training Course which are considered to be the definitive guides to helping SME's protect their organisation using the principles of Technology, Management, Adaptability and Compliance.