George Quigley, financial services partner in KPMG’s cyber security team, comments on the news that the financial services industry is under constant barrage of attacks by cyber criminals. He said: “Although the financial services sector is being heavily targeted by cyber criminals, other sectors needn’t be complacent, as we are seeing pan-sector attacks, to varying degrees. Attacks can stem from one sector such as Financial Services and rapidly spread to other sectors through the supply chain vulnerabilities or simply by being a partner to a firm.
“Businesses need to take more of a pre-emptive approach to such attacks. Simulating attacks is one effective way of highlighting potential weak spots. Each organisation should also look to have someone committed to defending their network, rather than someone who merely adheres to prescribed standards. Companies need to recognise the threat, consider their specific threat / risk profile and put in place appropriate security measures to mitigate the risk.”
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Nahidur Rahman, KPMG Press Office
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.