Magazine : Archives : 2nd Quarter 2015

Do Banks Walk the Talk on Cybersecurity?

Did a week pass in 2014 without reports of a major cyberattack or data breach? In July, JPMorgan Chase & Co. discovered more than 80 million customer accounts were breached by hackers, and attacks on retailers such as Home Depot and Target cost the financial services industry hundreds of millions of dollars. This year doesn’t promise to be any better. Are bank boards taking the threat seriously? Bank Director’s 2015 Risk Practices Survey, sponsored by banking and payments technology firm FIS, focused on how banks are managing risk, including the board’s role in oversight and creating a culture to promote...