Protecting the 'long-tail' of smaller organisations from cyber attacks
A system’s cybersecurity is only as strong as its most vulnerable components. Increasing cyber awareness and improving cyber hygiene throughout the global financial system have become CEO- and ministerial priorities. Governments are devoting more time and resources, individual financial institutions are building crucial capacity, and more attention is being paid to strengthening the system’s resilience overall. At the same time, minimising risk to the integrity, availability, and confidentiality of financial data cannot be achieved without the protection and participation of the “long-tail” of small organisations. Today, significant risks remain, the threat landscape continues to evolve, and small- and medium-sized institutions in particular, continue to face vulnerabilities.
Newly commissioned research by the SWIFT Institute will enhance the knowledge, preparedness, and resilience of smaller financial institutions by characterising the particular cybersecurity risk landscape faced by smaller organizations; producing an actionable package of achievable cyber hygiene security measures; and inspiring more holistic conceptions of and approaches to cybersecurity. This session will highlight the initial findings of this work-in-progress.