25th June 2015
George Quigley, financial services partner in KPMG’s cyber security team, comments on the news that the financial services industry is under constant barrage of attacks by cyber criminals. He said:
“Although the financial services sector is being heavily targeted by cyber criminals, other sectors needn’t be complacent, as we are seeing pan-sector attacks, to varying degrees. Attacks can stem from one sector such as Financial Services and rapidly spread to other sectors through the supply chain vulnerabilities or simply by being a partner to a firm.
“Businesses need to take more of a pre-emptive approach to such attacks. Simulating attacks is one effective way of highlighting potential weak spots. Each organisation should also look to have someone committed to defending their network, rather than someone who merely adheres to prescribed standards. Companies need to recognise the threat, consider their specific threat / risk profile and put in place appropriate security measures to mitigate the risk.”