Delloite concludes the lack of threat awareness and response means investment in tools and technologies to prevent future attacks from succeeding will not be sufficient, especially given the high price tag for a full ecosystem coverage.
"Rather, financial services companies can consider adopting a multipronged approach that incorporates a more comprehensive program of cyber defense and response measures to deal with the wider array of cyber threats and risks."
The report points to Quantum Dawn 2, a cyber security exercise SIFMA held in July 2013, as evidence that vigilance and resilience - including information sharing between the private and public sector - is as (if not more) important as secure defenses in combating cyber threats.
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