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Wednesday, 19 April 2017 15:02

Financial Services Firms Report Spike in Cyber Preparedness, Anticipated Regulatory Scrutiny

NEW YORK, NY –  Duff & Phelps, the premier global valuation and corporate finance advisor, today highlighted research affirming that financial services professionals are poised to significantly accelerate resources dedicated to preventing and combating cyber breaches. The survey of nearly 200 senior financial services professionals included the following highlights:

  • 86% of financial services firms intend to increase the time and resources they spend on cybersecurity in the next year.  This contrasts with 2016, when less than 60% said they planned to spend more resources and time on cybersecurity planning and initiatives.
  • 31% of respondents expect cybersecurity to be the top priority for regulators this year - a 63% increase over 2016 when just 19% of respondents held this view.
  • 21% of respondents believe that Anti-Money Laundering and “Know Your Customer” considerations – which are increasingly converging with cybersecurity and technology – will be a top regulatory focus.

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http://www.darkreading.com/risk/financial-services-firms-report-spike-in-cyber-preparedness-anticipated-regulatory-scrutiny/d/d-id/1328627