Googling “banking cyber threats 2019” yields 25.4 million results in a matter of 0.57 seconds. Does Alarming or fantastic? It’s fantastic because it suggests there is no shortage of people willing to talk about cyber threats any day of the year. It’s alarming because there is no shortage of people warning about the reality of the threat.
Kaspersky Labs warns that “the activity of cybercriminals in Indo-Pakistan region and South-East Asia is constantly growing: the immaturity of protective solutions in the financial sector and the rapid spread of various electronic means of payment among the population and companies in these regions are contributing to this. Now, all the prerequisites exist for the emergence of a new center for financial threats in Asia.”
Fintech Innovation spoke to Serkan Cetin, regional manager, Technology & Strategy at One Identity APJ, to take his view on heightened risks the financial services industry faces, the mentality that pervades leadership at these institutions, the blatant practice of ignoring risks in favor of new business models and innovation, and the role of regulation in keeping cyber threats at bay.
Are current risk management…
