What Treasury needs to know about cyber risk

From GT News –

“Given Treasury’s central role in sustaining a bank’s financial stability and security – and the fact that all parts of the bank come to it for knowledge and advice – the department needs a working knowledge of this rising new category in the bank’s risk register.

The starting point for Treasury is to recognise that the responsibility for deflecting cyberattacks can no longer be deferred just to the IT department. If defending against these attacks merely required investment in technology, banks would have already completed it. In fact many have invested millions in technology in their attempts to prevent cyberattacks, yet more often than not their exposure to cyber risk has only increased.”

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That Guy Loses It!

From Deloitte CIO Journal -

Is your laptop and mobile adequately protected?

Security experts expect increase in mobile payment-related breaches

From Mobile Payments Today –

“A survey of 900 cybersecurity experts shows that an overwhelming majority (87 percent) expect an increase in mobile payment data breaches over the next 12 months, yet 42 percent have used this payment method in 2015.

The 2015 Mobile Payment Security Study from global cybersecurity association ISACA suggests that cybersecurity professionals are willing to balance benefits with perceived security risks of mobile payments, according to press release.

Highlights of the study include:

• only 23 percent of respondents believe that mobile payments are secure in keeping personal information safe;
• nearly half (47 percent) say mobile payments are not secure; and
• at 89 percent, cash was deemed the most secure payment method, but only 9 percent prefer to use it.”

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