Learnings From The Cyber Attacks on Banking Industry

Year 2018 was full of cyber-attacks and the most serious news was about well-orchestrated cyber-attacks on banking industry. No matter how much awareness is generated, unfortunately the banking industry seems to be waking up only upon hearing about an attack and becomes sluggish on cyber security.

While providing consultancy to many banks, in different geographical areas, different sizes etc, I talk to IT heads and CISO. It made me realise that they are in a great deal of confusion in getting the whole thought process together to approach cyber security implementation in their respective banking IT infrastructure. This article is an attempt to articulate various Do’s and Don’ts which might help everyone get a bigger picture and see what is being missed by them.

Please be advised that the last one above is extremely important. This is because usually it is forgotten by bank’s management that cyber-attack is about information leakage as a whole, and not just about IT server or desktop data leakage.