Cyber-threats against the financial sector become more frequent, complex and sophisticated and cross-industry coordination around response and recovery mechanisms are essential to mitigating the systemic consequences of a large-scale attack, according to our joint report, Large-Scale Cyber-Attacks on the Financial System: A Case for Better Coordinated Response and Recovery Strategies with the DTCC.
Mitigating the systemic consequences of the increasing threat of large-scale cyber-attacks on the financial system is matter of national and international security. In what is arguably a global cyber arms race, it is clear that major players need to be prepared, connected and coordinated in order to effectively respond to and rapidly recover from a large-scale cyber-attack.Paul Mee, Partner and Co-Author
Based on extensive research and interviews with over 50 subject matter experts including financial services and non-financial services practitioners, the report recommends increased coordination across the industry, the development and implementation of standards to facilitate effective response and recovery and adherence to regulatory principles.
Interactive exhibit: Cyber-attack types and impacts
Expand each cyber-attack category