Cybersecurity in Capital Markets: The Limitation Game
Report Summary
Cybersecurity in Capital Markets: The Limitation Game
Capital markets firms must constantly evolve their cybersecurity approaches to survive the existential threat of cybercrime.
London, 27 January 2016 – Not too long ago, cyber risk was classed as a subdivision of information security and operational risk. Firms built firewalls and installed antivirus software and assumed that this would be enough to protect their digital assets. They may have been right to assume this—hackers were unstructured, isolated, and poorly funded. But cybercriminals have become more organized, and as processing power has become cheaper and more accessible, they have become better equipped than ever. Firms around the globe must now defend against increasingly sophisticated and frequent coordinated attacks from multiple sources, and cybersecurity now sits at the top of many capital markets firms’ investment agendas.
This report, the first in a series on cybersecurity in capital markets, overviews the current cybersecurity landscape and considers the different types of attacks and attackers, their tactics and methods, and the risks that the cyberattacks pose to capital markets firms. It is based on 2015 Aite Group conversations with market participants at capital markets firms, regulators, and technology vendors.
This 19-page Impact Note contains seven figures. Clients of Aite Group’s Institutional Securities & Investments service can download this report.