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Becca Lipman
Becca Lipman
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Cyber Risk Is World’s Third Corporate-Risk Priority

Financial services topped the list of 26 different industries that cyber criminals most targeted.
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In 2013, an annual investigative report on data security by Verizon found 88 percent of the attacks initiated against financial services companies were successful in less than a day.

Only 21 percent of these were discovered within a day. In the post-discovery period, only 40 percent of them were restored within a one-day time frame.

“Actionable intelligence” within 60 seconds after a successful attack would be sufficient to reduce the cost of compromise by 40 percent," Deloitte reports.

According to Vikram Bhat, principal with Deloitte & Touche LLP and the leader of Deloitte’s cyber risk services team, the delta of vigilance and responsiveness is where the battle is going to be fought over the next year.

 

Becca Lipman is Senior Editor for Wall Street & Technology. She writes in-depth news articles with a focus on big data and compliance in the capital markets. She regularly meets with information technology leaders and innovators and writes about cloud computing, datacenters, ... View Full Bio

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Nathan Golia
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Nathan Golia,
User Rank: Author
3/13/2014 | 5:59:16 PM
re: Cyber Risk Is World’s Third Corporate-Risk Priority
Regarding FIs status as the top cyber target: "That's where the money is." If online art could be flipped for a profit I wonder if we'd have international online art thieves, who suavely infiltrate the esteemed world and charm their way to a fortune.
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