<p>Cyberattacks are on the increase, with bad actors proliferating around the world. By the end of 2023, according to <em>Cybercrime</em> magazine, hackers will have caused <a href="https://cybersecurityventures.com/cybercrime-to-cost-the-world-8-trillion-annually-in-2023/" rel="noopener noreferrer" target="_blank">$8 trillion in global damages</a>. In 2022, Moody’s listed banks as being <a href="https://www.moodys.com/research/Moodys-Cyber-Heatmap-Cyber-Risk-Is-Rising-Across-70-Global-Research-Announcement--PBC_1343021" rel="noopener noreferrer" target="_blank">at high risk of attack</a>, and Fintech is also in the firing line.&nbsp;</p><br><p>Financial firms hold extremely sensitive data on millions of customers, and vulnerabilities can be exploited for lucrative ransoms. Fintech is meant to be the ‘tech-savvy’ cousin of traditional finance. It’s innovative, fast-moving, and often API and cloud-driven. But how secure is it? Is the industry doing enough to protect the consumers and businesses that rely on these products?</p><br><p>In the latest episode of Payments Innovation, Cara Hayward, Director of Strategic Partnerships for North America, Currencycloud and Visa Cross-Border Solutions, spoke with Fraser Scott, VP of Product at threat modelling platform IriusRisk, to find out more.</p><br><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

Payments Innovation

Currencycloud

Fortifying fintech: What you need to know about cybersecurity

NOV 20, 202316 MIN
Payments Innovation

Fortifying fintech: What you need to know about cybersecurity

NOV 20, 202316 MIN

Description

<p>Cyberattacks are on the increase, with bad actors proliferating around the world. By the end of 2023, according to <em>Cybercrime</em> magazine, hackers will have caused <a href="https://cybersecurityventures.com/cybercrime-to-cost-the-world-8-trillion-annually-in-2023/" rel="noopener noreferrer" target="_blank">$8 trillion in global damages</a>. In 2022, Moody’s listed banks as being <a href="https://www.moodys.com/research/Moodys-Cyber-Heatmap-Cyber-Risk-Is-Rising-Across-70-Global-Research-Announcement--PBC_1343021" rel="noopener noreferrer" target="_blank">at high risk of attack</a>, and Fintech is also in the firing line.&nbsp;</p><br><p>Financial firms hold extremely sensitive data on millions of customers, and vulnerabilities can be exploited for lucrative ransoms. Fintech is meant to be the ‘tech-savvy’ cousin of traditional finance. It’s innovative, fast-moving, and often API and cloud-driven. But how secure is it? Is the industry doing enough to protect the consumers and businesses that rely on these products?</p><br><p>In the latest episode of Payments Innovation, Cara Hayward, Director of Strategic Partnerships for North America, Currencycloud and Visa Cross-Border Solutions, spoke with Fraser Scott, VP of Product at threat modelling platform IriusRisk, to find out more.</p><br><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>