It is no secret that banks are a valuable target for cybercriminals, a BCG report estimates that banks are 300 times more likely to be targeted than other industries. As the sector rapidly digitises itself they are now also contending with new attack vectors.
In South East Asia alone we are seeing cases of prominent banks falling victim to cyber attacks and regulators also now rushing to create new regulatory frameworks to better protect consumers.
Are banks doing enough to protect their users? How else can the industry beef up its security practices?
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