Fraud and cyber high alert: The new normal?
Cyber security is top of mind for industry executives, as high-profile security breaches continue to reverberate. SWIFT’s Customer Security Programme (CSP) has mobilised its members to take decisive action. What benefits are being gained from such collaboration? In an industry where robust safeguards at one institution can be undermined by weak security at another, is it time to include cyber exposure as an element of Know Your Customer (KYC) risk? How can banks use RMA+ to better manage correspondent relationships and related risk? What is the landscape of payment risks and how do institutions best protect themselves? With cyber risk here to stay, what skillsets should banks develop and recruit in order to protect themselves and their community?