“With an uptick in cyberattacks against financial institutions, regulators are putting financial leaders on notice.
"The cyber threat has to become urgent," Benjamin Lawsky, the superintendent for the state's Department of Financial Services, said in a recent article in the Financial Times. "It's got to be at the chief executive level. It is not an IT problem. It is a bank problem."
Lawsky's words come at a time when too many financial leaders have been content to abdicate their cybersecurity responsibilities to the chief information officer and employees. They see the issue as too complex and technical to manage directly, or simply believe that it isn't of board-level importance.”
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