A four-day exhibition, Sibos, organized by
Most IT security experts at the Sibos agreed that cyber security shall not be considered as a cost center, but as an investment into a bank's financial soundness and reputation.
The banks are keeping up with the latest technologies to secure their assets from hackers.
According to a study released on
Earlier this year, a series of cyber attacks had knocked down the websites of major U.S. lenders, including
A survey at the summit also revealed that over 30 percent of bank technology experts fear internal attacks, such as data stealing by employees or business partners.
IT security costs were also raised due to implementation of encryption codes and procedures to control internal threats. (ANI)
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