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Financial Cybersecurity for Modern Hacks on World Banks

Financial Cybersecurity for Modern Hacks on World Banks 1

We hear about a large world bank hack almost every week these days. From the recent Capital One breach to the European Central Bank attack, how can you trust that your bank is safe? The financial industry must follow a number of compliance frameworks on their IT systems to secure and protect data. Unfortunately, we too-often discover that auditing controls are insufficient by news headlines about the Russians or Chinese hacking a large global bank. Even the Equifax breach was caused by a simple misconfiguration that should have failed a routine audit.

Financial Cybersecurity Regulations in the USA

Some of the regulatory bodies that financial institutions have to report to include:

With all those reporting agencies comes a lot of compliance controls and regulations. To name a few:

Financial Cybersecurity Controls

Many of these regulatory frameworks have a similar framework that the NIST CSF has broken down into five key areas: identify, protect, detect, respond, recover. Within those areas follow a similar set of rules to cover the following areas:

If you’re interested in moving to Microsoft’s cloud, we can help you understand the complex compliance frameworks that are required to help get you there. The next time you hear about a world bank hack, hopefully, it’s not you.

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