In the most recent edition of Cybersecurity Ventures, Sera-Brynn CEO Rob Hegedus talks about how cybersecurity dominates risk management in the boardrooms of the financial services industry. He makes an important point that many people often miss when it comes to cybersecurity – that it’s a process, not a destination.
Cyber criminals don’t have banking hours, which means banks of all sizes, wherever they are, will be vulnerable all the time. When it comes to M&As, Hegedus argues for greater transparency because poor oversight increases risk and companies should know what they’re merging with or acquiring. He also notes that public guidance was issued by the SEC for mandatory disclosure of cybersecurity incidents by publicly-traded companies. These incidents will not only harm a company’s bottom line, but their reputations too. That’s why it’s important to have full disclosure to Boards’ of Directors (which we believe should be a best practice across all industries – and not limited to just financial services). The overall global securities market is particularly high-risk because of the potential global economic consequences.
Need we mention the inherent risks associated with crypto-currency?
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