Cyber security tops DTCC risk barometer

“US post-trade utility the DTCC is reporting that almost half of the respondents in its most recent Systemic Risk Barometer Study cited cyber security as their top concern, making it the single largest fear and doubling its rating compared to just 12 months ago.

Security incidents continue to cause concern across the financial markets and other key industry sectors, with specific respondent feedback citing the growth in the ‘frequency and sophistication of cyber attacks’. As a result, many market participants have increased their investment in technology to detect and prevent cyber threats, with the goal of ensuring ‘uninterrupted access to (threat) data.’ At the same time, firms have increased hiring for cyber security roles and have provided greater training and educational opportunities across their organisations.”

Source: Cyber security tops DTCC risk barometer » Banking Technology

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