Financial firms may need to bolster their defenses in the face of rocketing cyber attacks after employees began working from home, the Financial Stability Board says.
Lockdown restrictions are easing but financial firms have told employees they will be allowed to work from home several days a week permanently, and the rest of the time in the office.Financial firms may need to bolster their defenses in the face of rocketing cyberattacks after employees began working from home, the Financial Stability Board said on Tuesday.
“Most cyber frameworks did not envisage a scenario of near-universal remote working and the exploitation of such a situation by cyber threat actors,” the FSB said in a report to G20 ministers and central banks.The report is a first take on lessons learned from the pandemic’s impact on financial stability.
Lockdown restrictions are easing but financial firms have told employees they will be allowed to work from home several days a week permanently, and the rest of the time in the office. “Financial institutions have generally been resilient but they may need to consider adjustments to cyber risk management processes, cyber incident reporting, response and recovery activities, as well as management of critical third-party service providers, for example cloud services,” the FSB said.
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