FINAL WORD
Why IT security
teams and
employees
need to work
together to
secure finance
organizations
Financial institutions stand the best chance
of achieving cyber hygiene if they make it
their mission to teach their workforce about
important cybersecurity behaviors. David
Sajoto, Vice President of Sales for Asia Pacific
and Japan, ExtraHop, explains the important of
cyber hygiene for finance organizations.
Major data breaches are more than blips and nuisances.
Often, such incidents cause damage and disruptions
that are difficult to recover from, operationally and
economically. In the Singapore Cyber Landscape 2019 report, the
Cybersecurity Agency noted a rise in cyberthreats targeted at various
local industries, including e-commerce, banking and finance. These
cyberthreats included common malicious activities such as website
defacements, phishing incidents and malware infections.
As Singapore opens up to more technology players, including
e-wallet services and cryptocurrency firms, the Monetary Authority
of Singapore (MAS) announced new cyber hygiene rules in 2019 for
financial institutions. This is in preparation for greater governance
and transparency as Singapore prepares to issue digital bank licenses
to non-bank players in 2020.
Back to basics: Cyber hygiene
Cyber hygiene is a familiar term but do users and security
teams really understand how paying attention to the basics,
secures the enterprise?
82 INTELLIGENTCIO www.intelligentcio.com