12% Of Bank CEOs Don’t Even Know If They’ve Been Hacked

Twelve percent of banking CEOs say they do not have insight into whether their institution’s security has been compromised by a cyber-attack in the past two years, according to KPMG.

Their survey also shows that there is a clear disconnect between how the C-Suite views cyber security versus the next tier of executives.

KPMG surveyed 100 bank executives – representing banks in excess of $20 billion in assets – and found disparities around the awareness of hacks, company vulnerabilities and top concerns in the event of a breach at the bank.

While 12 percent of CEOs don’t know if they’ve been hacked in the past two years, the lack of awareness only grows when compared to the next level of executives. Approximately 47 percent of banking executive vice presidents and managing directors reported that they didn’t know if their bank had been hacked, and 72 percent of senior vice presidents and directors stated that they didn’t know.

“Banks are under an onslaught of attacks from bad actors, so the fact that 12% of banking CEOs reported that they don’t know if they’ve been compromised is troublesome. Cyber is a business bottom-line issue: a true CEO issue,” said Charlie Jacco, Financial Services Cyber Leader at KPMG. “While CEOs may be more privy to information regarding the exact number of cyber technology deployment and hack attempts, all employees should know and be in lock-step on their bank’s greatest vulnerabilities and concerns as it pertains to how that bank views cyber security. The data shows, on a leadership level, strong differences.”

“A disconnect around cyber strategy among senior executives, can create great gaps in protections and deprioritize important tasks exposing banks to increased cyber risks,” says Jitendra Sharma, KPMG’s Advisory Line of Business Leader for Financial Services. “Naturally, banks are the top industry attacked by hackers due to the amount of funds flowing through the institutions. Since banks are under increased security pressures, it’s more important than ever that they employ a strong, top-down internal strategy to better protect themselves against bad actors.”

HelpNet Security: http://bit.ly/1sBE0hi

« Less Than a Quarter of Businesses Are Ready To Resist A Cyberattack
The FBI Is Looking For A Fight Over Encryption »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

Authentic8

Authentic8

Authentic8 transforms how organizations secure and control the use of the web with Silo, its patented cloud browser.

ZenGRC

ZenGRC

ZenGRC - the first, easy-to-use, enterprise-grade information security solution for compliance and risk management - offers businesses efficient control tracking, testing, and enforcement.

Cyber Security Supplier Directory

Cyber Security Supplier Directory

Our Supplier Directory lists 6,000+ specialist cyber security service providers in 128 countries worldwide. IS YOUR ORGANISATION LISTED?

IT Governance

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

Roka Security

Roka Security

Roka Security is a boutique security firm specializing in full-scale network protection, defending against advanced attacks, and rapid response to security incidents.

International Association of Professional Security Consultants (IAPSC)

International Association of Professional Security Consultants (IAPSC)

Members of the IAPSC represent a unique group of respected, ethical and competent security consultants.

STMicroelectronics

STMicroelectronics

ST is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life.

Deutsche Cyber-Sicherheitsorganisation (DCSO)

Deutsche Cyber-Sicherheitsorganisation (DCSO)

DCSO is an IT security specialist with a focus in three areas - technology management, managed security services, security consulting and auditing.

Vector InfoTech

Vector InfoTech

Vector InfoTech is a leader in Industrial Security, Networks, IT and Telecommunications.

Moxa

Moxa

Moxa is a leading provider of industrial networking, computing, and automation solutions for enabling the Industrial Internet of Things.

Ingenio Global

Ingenio Global

Ingenio is a specialist recruitment business for SaaS companies. Our purpose is to source exceptional talent in areas including cyber security for leading SaaS companies in the UK and Ireland.

FraudScope

FraudScope

FraudScope is an AI-assisted platform that accelerates the identification of fraud, waste, and abuse.

Founder Shield

Founder Shield

Founder Shield is a data driven insurance brokerage focused excusively on rapidly evolving high-growth companies.

Bleam Cyber Security

Bleam Cyber Security

Bleam is a leading provider of Managed Cyber Security Services and Information Security consulting. We deliver enterprise class security services to UK SME’s to stop data breaches.

Acmetek Global Solutions

Acmetek Global Solutions

Acmetek is a Global Distributor and a Trusted Advisor of PKI /IOT & SSL Security Products and a Managed Services Company.

GeoEdge

GeoEdge

GeoEdge is the premier provider of ad security and quality solutions for the online and mobile advertising ecosystem.

Kodem

Kodem

Our mission is to make AppSec simple. Meet the world’s first dynamic software composition analysis platform. Only Kodem uses runtime intelligence to determine application risk.

Elastio

Elastio

Elastio's cloud-native platform safeguards cloud data from the risks posed by ransomware, application failures and storage security vulnerabilities.

S2W

S2W

S2W is a data intelligence company specialized in cyber threat intelligence, brand/digital abuse, and blockchain.

CLEAR

CLEAR

With more than 17 million members and a growing network of partners across the world, CLEAR's identity platform is transforming the way people live, work, and travel.