IT Security made more urgent by Bangladesh heist

September 16, 2016 / GuidesFor Team

It was the cyber theft that rocked the global financial world, and made every corporation on the planet do a sudden re-evaluation of the strength of their IT security. A few months ago, the Bangladesh Central Bank lost $81 billion in funds which were funneled through the usually reliable SWIFT, the platform that handles international transmission of funds. The Bank for International Settlements (BIS) which is the global central bank that coordinates with the central banks from other countries has called for an upgrade of all IT Security systems.

For companies that have not yet acquired one, an IT Security and Compliance solution can be the effective gatekeeper that can prevent past – and future – attacks. It neutralizes incoming cyber assaults while engineering steps to anticipate and block off the next generation of hackers. It may be the most potent solution yet to the crisis that the U.S. Securities and Exchange Commission has warned as the biggest crisis to face American big industry.

This article shows how U.S. companies have responded to the crisis and the steps that the SEC is asking to curtail further blows. The quiet but no less deadly sense of dread that creeps across the business landscape is argument enough for an implementation of an effective IT solution. Read on for more. – Cora Llamas

Cyber security is the biggest risk facing the financial system, the chair of the U.S. Securities and Exchange Commission (SEC) said on Tuesday, in one of the frankest assessments yet of the threat to Wall Street from digital attacks.

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