Financial institutions are among the most regulated businesses in the world. That’s understandable given their role in a key critical infrastructure sector and rising threat levels across the industry. It’s why in the EU, the Digital Operational Resilience Act (DORA) will soon take effect, to improve baseline security efforts in the sector. Yet even as investment in cybersecurity increases, breaches continue to occur. The IMF warned recently that cyber-incidents over the past 20 years have cost the sector $12bn.

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Thomas Stoesser

Source: Security Boulevard
Source Link: https://securityboulevard.com/2024/05/tackling-data-security-challenges-in-hybrid-and-cloud-banking-environments/