“Compliance alone won’t help in the age of cyber breaches, HK fin tech event told” is an article written by Ajay Shamdasani, a senior staff writer with Thomson Reuters Regulatory Intelligence in Hong Kong.
As the relationship between financial services and technology increases, so does the threat of cyber attacks such as hacking, as seen with the report that hackers had stolen information from around 500 million Yahoo email accounts in 2014.
Even where firms have strong cybersecurity defences, a common weakness can be the human aspect, panellists told the Fintech O-2-O Global Summit held in Hong Kong on September 28.
“We rely on others to safeguard us against such [cyber crime] risks, but we cannot, because we are human, so we are not dependable to some extent, better training and improving processes were needed but this was far from easy” said Eric Meyer, chief executive of Apvera, an insider threat intelligence platform business in Singapore
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