The ability of cyber threats to compromise information systems is an ongoing danger to all organisations, however, an emerging threat presents a new challenge, cyber-attacks that may cause physical harm to systems with the potential to kill the business. Financial services are among the most attractive targets for cyber attackers and most industry reports rank it as the premier industry risk.
Adversaries offering their customisable malware strains or services-for-hire on the dark web are contributing to a rise in the adoption of more modern Tactics, Techniques, and Procedures (TTPs) by attackers.
Despite these acute threats, cyber security in the main remains something of a black art, with those who lead, manage and operate the business delegating either internally to a select few IT security specialists or contracting with an external Cyber Security as a Service (CSaaS) provider. As with other strategic risks this is an area where the board and management team need to have an adequate understanding.
Ignorance is no defence.
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