Few banks have a corporate leadership structure that puts cybersecurity executives close to the top of the organization, according to a recent survey of such executives at financial institutions.
Whether state-sponsored or masterminded by a 16-year-old, data breaches have become a major cause for concern across the banking world.
The survey also highlights the types of threats outside their walls that bank cybersecurity officers are increasingly worried about. These include the targeting of nonpublic information, the security shortcomings of cryptocurrency exchanges and hacks that hit tech partners, all of which impact the security of banks in various ways.
VMware surveyed 130 chief information security officers and security leaders at financial institutions, 41% of which were headquartered in North America. The company conducted the survey in February 2022.
Here is a look at some of the tactics of highly sophisticated threat actors, third-party threats banks face and what cybersecurity experts believe their institutions ought to do about them.