FSB calls for standardised cyber breach reporting
The Financial Stability Board (FSB) is urging the financial sector to develop a common method for reporting cyber incidents
Financial institutions have been hit with increasing cyber attacks over the past few years, with a rapid rise during the pandemic.
In a survey conducted by the Ponemon Institute research centre, 70% of financial services companies in the UK suffered cyberattacks in 2020, with 59% of such attacks being exacerbated as a result of hackers targeting people working in remote environments. It was found that 41% of such companies fear that remote workers are putting them at real risk of suffering a major data breach.
https://fintechmagazine.com/fraud-and-cybersecurity/fsb-calls-standardised-cyber-breach-reporting
Hugh Taylor
Hugh Taylor is a Certified Information Security Manager (CISM). In addition to editing Journal of Cyber Policy, he writes about cybersecurity, compliance and enterprise technology for such clients as Microsoft, IBM, SAP, HPE, Oracle, Google and Advanced Micro Devices. Prior to launching his freelance writing career, he served in executive roles at Microsoft, IBM and several venture-backed technology startups.