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And could we get that benchmarked against our peers? The Index is facilitated by long-time FS-ISAC sponsor Security Risk Advisors, but it is developed by a wide group of intel, red, and fusion center leads from retail banks, asset managers, fintechs and insurers. The latest Q1 2023 benchmark is 63%. That’s the bad news.
And could we get that benchmarked against our peers? The Index is facilitated by long-time FS-ISAC sponsor Security Risk Advisors, but it is developed by a wide group of intel, red, and fusion center leads from retail banks, asset managers, fintechs and insurers. The latest Q1 2023 benchmark is 63%. That’s the bad news.
These sanctions have targeted Russia’s financial system and its international financial connections by restricting transactions between Russian banks and those in other countries, most notably through the SWIFT global financial network. Be sure to engage with regulators, enforcement agencies, banks and insurers for guidance.
The last year has seen such attacks hit Bank of America , Home Depot, T-Mobile , Okta , and Citrix. A model for regulation could be the EU’s Digital Operational Resilience Act (DORA) , which strengthens and standardizes IT security and compliance for financial entities such as banks, insurance companies, and investment firms.
It serves as a benchmark to assess behaviors and hold employees accountable if they are non-compliant. For instance, all sales receipts and bank account deposit preparations should be documented. A well-written code of conduct outlines your organization’s mission, vision, values, principles, and commitments.
I worked with a CIO at an insurance company who challenged his team to accept smart risks. Understanding your customers is keywhether thats your end-users or internal teams like retail banking or brokerage groups. One bank used it to share updates during disruptions, and it made a big difference in customer confidence.
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