Cybercrime is rising rapidly, takes more time to resolve and costs the financial services industry US$18 billion annually.
The average cost of cybercrime for financial institutions increased US$1.4 million to US$13.0 million in the past year, according to a recent Accenture report.
The financial toll is set to escalate even further, with Germany's stringent new regulation looming large on the horizon, which imposes GDPR-like fines for non-compliance.
Watch the 10-minute chat with leading cybersecurity lawyer Dr Alexander Duisberg and regulatory technology expert David Noble, who discuss these burning questions:
- How are financial services institutions coping with the growing number and complexity of global cybersecurity regulations?
- Are banks ready for the new German cybersecurity legislation, and is it likely to have broader impact across Europe – or indeed the rest of the world?
- What should you be doing to monitor regulatory change more effectively and assess its impact on your business?