This article has been indexed from BitSight Security Ratings Blog
The financial services sector is one of the highest performing in terms of cybersecurity. One factor that contributes to this performance is regulation. Laws such as FFIEC IT, the Gramm-Leach-Bliley Act, NYDFS, GDPR, and SOC2 have placed pressure on financial services companies to build and enforce some of the strongest cyber risk management programs across any industry.
Another factor is money. Because of the extremely sensitive personal and financial information they handle, firms in this sector typically have higher security budgets than other organizations.
But as threats continue to evolve, there’s always work to be done. Indeed, a recent BitSight study found that finance companies have much to do to improve their security postures.
Given this sobering discovery, here are four best practices that can bolster financial services cybersecurity.
Read the original article: 4 Ways to Combat Modern Threats in Financial Services