Banks rush to protect against data breach fines

Cost of implementing GDPR ‘could reach hundreds of millions’ for largest banks

Race to protect data
The fear of significant fines has led banks to race for data protection solutions

Banks are no strangers to the perils of lax data security. The growing frequency and severity of cyber attacks on lenders have made resiliency against external attack banks’ top operational risk priority. To ensure practitioners’ minds are sufficiently focused, however, European supervisors are introducing tough new legislation to incentivise higher data protection standards – seemingly favouring the stick approach over the carrot to achieve their goal.

Under the EU’s forthcoming General Data

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here