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Following the publication of the Basel (II and III) and Solvency Regulations, implementing Governance, Risk and Compliance (GRC) practices within financial institutions has gained predominance. To meet the challenges of data governance stated in the pillars of these regulations, companies have multiplied their efforts to recruit the best in GRC concerning Risk Management, Internal control, Internal Audit and Compliance.
According to a study conducted by the consulting company Optimind Winter and mandated by the Observatoire des métiers de la Banque (Banking Career Observatory), “Banking companies are also victims of new risks and must create new job profiles to deal with these new challenges. GRC departments must face new challenges, such as coverage of systemic risk, development of Cloud Computing or Mobile Bank (technological nomadism).” Here, we refer to digitalizing the banking sector and using the Internet to manage personal bank accounts. Banks and insurance companies have thus implemented solutions to protect their customers’ data against cyber-attacks. While the efforts made to secure customer data have proven effective, the threat now lies within financial companies in their daily workflow.
Along with new working methods, a new phenomenon has emerged, known as “Shadow IT,” which is any application or method of transmitting information used in a business process without the endorsement of the internal IS department. Often unaware of its existence, IT departments don’t provide any support. Such processes generate “informal” and non-controlled data that can contravene existing standards and regulations such as Basel and Solvency. Continue reading
Heading into 2016 there has been an increased awareness of the threat of possible data breaches and IT security threats worldwide. Following a challenging 2015 that was characterized by multiple large retailers experiencing massive data breaches as well as federal security threats, it is thought that more than 16,000 cyber attacks will be attempted in 2016. The Federal Government recently released the 2016 Data Threat Report which collated data from IT experts and government entities to discuss and ranks the biggest security threats. The study found that 90 percent of those surveyed believed their organizationwas vulnerable to a data breach. Of that 90 percent, 61 percent experienced a data breach including 1 in 5 within the past year. That is a startlingly high assessment for the experts charged with keeping the nation’s data secure. We took a look at the top security threats exposed early in 2016 to help your company identify arising security challenges, possibly within your own organization. Here is what we found:
SYSTRAN will be present at the International Cybersecurity Forum in Lille as a silver sponsor.
The International Cybersecurity Forum (FIC) is a platform aiming to promote a Pan-European vision of cybersecurity and strengthen the fight against cybercrime. Jointly organized by the Department of the National Gendarmerie, CEIS and EuraTechnologies, and co-financed by the Regional Council of Nord-Pas-de-Calais, the FIC will take place in Lille on 25-26 January 2016.
This 8th edition will focus on Continue reading
Cybersecurity becomes a major preoccupation for companies and governments, as they are subjected to an increasing number of cyberattacks. Singapore is particularly hit: in 2014, 66% of the companies based in the city-state suffered data loss or unplanned downtime due to illicit cyber-activities, costing them S$1.9 billion. Implementing secured cybersecurity strategy while facing the increased use of mobile devices and the need for digital and flexible processes has become a major pattern for multinational companies. Continue reading
The 7th edition of the International Cybersecurity Forum (FIC) was held in Lille on January 20th and 21st. It attracted 4,350 participants from 73 countries. During these two days, political leaders, manufacturers, academics and legal, security and defense professionals shared their experience and ideas to build a sustainable and innovative industry.
Everyone acknowledges the crucial role of language technologies in facilitating and accelerating in-depth analysis of multilingual multimedia open sources. To gain even more visibility among the Cybersecurity community, SYSTRAN sponsored the 2 Newsletters released during the event and wrote the editorials which pointed out the loss of confidentiality while using free online translation services.
Learn more about SYSTRAN solutions for Defense & Security: Here
The International Cybersecurity Forum (FIC) forms part of a thinking and exchange process that aims at promoting a pan-European vision of cybersecurity and strengthening the fight against Continue reading