The article introduces about five risk management and security trends in banking. The first one is security breaches. Security breaches make organizations spend a lot of money on it. There were security breaches which cause $1 billion data lose in the world in 2017. The number will keep increasing in the future. The second one is new regulation. The new regulations keep coming out. Organizations should make sure the compliance of the regulation when a new one is published. Next one is cloud-based solution. Many organizations start to se cloud-based computing. They spend over $1 trillion to purchase dedicated cloud computing. The following one is remote monitoring capacities. It provides flexible and efficient method in working. The last one is fraud mitigation. it brings video surveillance and data management solutions to integrate with access control and intrusion. To mitigate the risks, organizations should provide security service in line to deal with problems in time.
https://www.securitymagazine.com/articles/89528-emerging-risk-management-and-security-trends-in-banking
Last year, Cybersecurity Ventures predicted that cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015. This represents the greatest transfer of economic wealth in history, risks the incentives for innovation and investment, and will be more profitable than the global trade of all major illegal drugs combined.
Very interesting article, especially the GDPR, a European effort to regulate how entities , the Cloud-Based Solutions that Cisco predicts that by 2020, global cloud use will account for more than 92 percent of total data center traffic. This surge in adoption also represents a huge uptake in spending, which Gartner predicts will exceed $1 trillion in purchases dedicated to the cloud by 2020. and Remote Monitoring Capabilities.
It is good to know emerging risk management and security trends in banking industry and to be awared and prepared for these challenges.