Cybersecurity risk: It’s third parties, cry if you want to…

With the most complex of supply chains, banks face an almost impossible task in dealing with third-party cybersecurity risk. But one group of counterparties poses a particular problem – law firms that have been slow to react to cyber crime

You’ve got board support and the biggest cybersecurity budget. You’ve got best-practice policies and procedures in place, hired the right people, built state-of-the-art threat intel and other systems, you test continuously and you have created a cybersecurity culture throughout your organization. That’s great. But you still have a problem that is largely beyond your control and that can render all that useless.

heart3

One of the most publicized hacks (and the one mentioned by almost all the CISOs below) is the 2013 attack on US retailer Target and its payment system that affected more than 41 million of the company’s customer payment card accounts.

Thanks for your interest in Euromoney!

To unlock this article: