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Financial Services Ranks Cyberattacks Top Industry Worry

Depository Trust & Clearing Corporation (DTCC) survey says cyberrisk is one of the top five concerns for financial services firms.

The financial services industry -- one of the most security-savvy and security-forward verticals in the world -- is increasingly getting nervous about cyberattacks.

A new report published today by the Depository Trust & Clearing Corporation (DTCC) for the third quarter of 2014 found that 84% of financial firms ranked cyberrisk as one of their top five concerns, up from 59% in the first quarter of this year. Next in the top five is the impact of new regulations (64%), geopolitical risk (62%), sudden dislocation in financial markets (43%), and disruption/failure of a key market participant (32%).

"No institution -- large or small, public or private -- is immune to a potential cyberattack," said Mark Clancy, DTCC corporate information security officer and CEO of Soltra.  "All of us need to become agile in response to these rapidly evolving threats by being able to share information about attackers’ activities between multiple stakeholders and shifting the model from individual institution’s static defenses to dynamic community responses. This shift requires both the maturation of operational capabilities and public policy frameworks to be successful."

[Read the Rest on Dark Reading]

Kelly Jackson Higgins is Executive Editor at DarkReading.com. She is an award-winning veteran technology and business journalist with more than two decades of experience in reporting and editing for various publications, including Network Computing, Secure Enterprise ... View Full Bio

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