Cybercrime is now one of the world’s leading sources of illicit revenue.
And the cyber threat may now seem greater than ever before with increasing interconnectedness and the widespread adoption of technology, and the moving to fully digital platforms in the cloud. These factors mean that “the attack surface is getting much, much larger,” as pointed out by Cheri McGuire, Standard Chartered’s Group Chief Information Security Officer. She added that the attacks themselves have not evolved radically, with the recent high-profile assaults on financial institutions having generally exploited preventable failures.
When people and process rather than technology consistently prove to be the weak links in cybersecurity, it is clear a fresh mindset and approach are critical to address the rapidly expanding attack surface. It’s that awareness that underlies Standard Chartered’s integrated strategy to manage cyber risk, and informs our approach to combating cyber-enabled financial crime.
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