Recent Bank Heists: Why to Compromise Critical IT Assets?

A $101 million bank heist, earlier this year, brought the issue of cybersecurity to the forefront once again. In a sophisticated operation, cybercriminals robbed the Central Bank of Bangladesh by getting hold of SWIFT (society for Worldwide Interbank Financial Telecommunication code), the access code for global cross-border payment messaging system.

More important, it wasn’t an isolated case. Even as the dust over Bangladesh bank incident had not settled, the global banking system was again taken aback. This time it was an Ecuador bank, which was hit by a $12 million cyber-heist. The modus operandi was same.

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Will businesses stand the ‘risk’ of times?

All the top businesses today – Manufacturing& Distribution, Banking & Financial Services, Consumer Products & Services, Technology, Media & Communications, Healthcare & Life Sciences and Energy & Utilities – are expected to grow at a fast pace in the coming decade.

However the evolution of these businesses comes at the cost of rising risks. Analyzing and mitigating the risk factors should take precedence when devising strategies.

Several global studies report the following 10 risks businesses face as of 2016 and beyond:

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