Cyber-crime - Financial services developing to counter cyber-crime threats
Cyber-crime - Financial services developing to counter cyber-crime threats
SUMMARY
Most financial crime now takes place online. Successful break-ins have the capacity to remove vast sums of money and ruin the carefully developed public image of leading banking institutions and associated companies. To meet an evolving criminal threat companies involved in financial services must adapt quickly. Under pressure from consumers, governments, shareholders and other interested parties, regulations are changing. Regulation technology is being heavily invested in, fraud detection is improving and major companies are paying ever more attention to the cybercrime threat. For financial services, criminality is a major trend which will play a critical role in decision making and future strategies.
KEY QUESTIONS ANSWERED
SUMMARY
Most financial crime now takes place online. Successful break-ins have the capacity to remove vast sums of money and ruin the carefully developed public image of leading banking institutions and associated companies. To meet an evolving criminal threat companies involved in financial services must adapt quickly. Under pressure from consumers, governments, shareholders and other interested parties, regulations are changing. Regulation technology is being heavily invested in, fraud detection is improving and major companies are paying ever more attention to the cybercrime threat. For financial services, criminality is a major trend which will play a critical role in decision making and future strategies.
KEY QUESTIONS ANSWERED
- What is the risk from cybercrime and why must it be forcefully countered?
- Where are the threats coming from?
- In what ways can cybercrime damage a company?
- Learn why cyber crime is such a common and concerning threat.
- See how big companies are responding to this threat.
- Examine the regulatory challenge that companies face.
- Cybersecurity is a global problem because so many large financial services companies operate across several continents. Widely regarded as the most vulnerable region to attack, Asia-Pacific has much to do regarding cyber protection.
- A major driver behind regulatory change in financial services is the decisions taken by global centers of financial trading. New York is one such example, where local regulatory changes could soon be adopted widely thanks to the premier status of the city.
- Given ballooning growth in online crime, banks are set to pay ever greater attention, and invest ever greater sums of money, into solving associated problems. There is good reason to. Banks trade on a perception of safety among consumers, businesses and investors.
Overview
Catalyst
Financial services developing to counter cyber-crime threats
Financial services developing to counter cyber-crime threats
Companies must change to meet evolving cybersecurity environment
Regulatory authorities responding to criminality, forcing companies to act
Major banks are improving fraud detection, reducing risk to all concerned
Regulatory technology is changing how financial services combat criminal threats
Conclusion
Appendix
Further Reading
Ask the analyst
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Disclaimer
Catalyst
Financial services developing to counter cyber-crime threats
Financial services developing to counter cyber-crime threats
Companies must change to meet evolving cybersecurity environment
Regulatory authorities responding to criminality, forcing companies to act
Major banks are improving fraud detection, reducing risk to all concerned
Regulatory technology is changing how financial services combat criminal threats
Conclusion
Appendix
Further Reading
Ask the analyst
About MarketLine
Disclaimer
LIST OF FIGURES
Figure 1: Value of banking market in Asia-Pacific ($tn) 2009-2016
Figure 2: Number of ‘card not present’ fraud in United Kingdom 2011-2016
Figure 3: Global willingness to use a digital only bank, 2016
Figure 4: Timeline of Regtech developments March 2015 to March 2016
Figure 1: Value of banking market in Asia-Pacific ($tn) 2009-2016
Figure 2: Number of ‘card not present’ fraud in United Kingdom 2011-2016
Figure 3: Global willingness to use a digital only bank, 2016
Figure 4: Timeline of Regtech developments March 2015 to March 2016
