2016/10/25 2:00 AM
On Sunday afternoon at the Money20/20 conference in Las Vegas, a cybersecurity panel discussed challenges facing financial services organizations in preparing for or responding to malicious cyberattacks. Sharing information on ransomeware attack management, panelists argued, is a near necessity for financial services organizations. With organizations facing increasing risk from swarm-like cyberattacks and associated ransom payment demands, panelists urged for organizations to proactively prepare for and manage response strategies to a cybersecurity breach incident.
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Collaboration on response and recovery strategies in handling threats from cyberattacks is needed between a wide array of financial organizations, from banks to payment processors alike. As cyberattacks rise in sophistication, a multitude of million dollar cases detract from the government’s ability to track many smaller attacks….