Banks and other financial institutions are in the frontline of the cyber war. They are under constant attack from hackers, internet fraudsters, organised criminal gangs and unfriendly foreign governments among others, and have suffered numerous high-profile security breaches, denial-of-service incidents, data thefts and financial losses.
The defensive measures deployed by banks are becoming more sophisticated, as was outlined in The Banker’s cover story in September. They are working increasingly closely with each other through industry associations, not only to deter and detect the threats, but to mitigate the consequences of successful attacks.
