Top Tips on Cybersecurity in Finance: MASTERCLASS
Four cybersecurity experts join Asset TV to discuss the latest developments in the financial industry.
In a world where hackers and weapons continue to grow in sophistication, the financial services industry is one of the top targets for cyber-attack. MASTERCLASS panelists identified several contributors to cybercrime vulnerability. John Araneo cited unpreparedness and Sid Yenamandra emphasized human error and the importance of implementing core policies. The experts also shared their best practices for how financial services firms can develop a robust cybersecurity program.
Moving toward the question of the regulator's role in cybersecurity, the panelists surveyed the current state of regulation in the industry, including a new New York State regulation introduced this month. Steven Ryder highlighted the need to keep up with the rapid pace at which new regulation is implemented.
One of the nuances the program delved into was victim accountability during a cyber breach. In discussing the case precedents of R.T. Jones and Morgan Stanley, the experts commented on the strict liability approach taken by the SEC, and what financial services and cybersecurity professionals can gather from these case precedents. In the eyes of the law, a firm is liable for data breaches, bringing the discussion to just how financial services firms can fortify their systems and safeguard their data from attack.
The panelists explained their methods for developing a holistic cybersecurity policy and reflected on the importance of implementing and enforcing these programs. These included the integration of all moving parts of a cybersecurity policy, the implementation of strict employee training programs, and the mitigation of risk of human error. Brian Edelman urged viewers to nurture technological leadership within their firms.
In Asset TV's cybersecurity MASTERCLASS, viewers can expect an overview of cybersecurity in financial services, an understanding of the role of regulation in preventing cybercrime, and tangible action items to construct a robust cybersecurity defense.
Watch the Cybersecurity MASTERCLASS here: https://www.assettv.com/