Pactera Technologies N.A., Inc. [www.Pactera.com] has released the report “Cybersecurity Threats for Treasury & Payment Management Systems: Six Things you Should Know to Manage Them.” It is easy to understand and pertinent, particularly this time of year, when we are seeing a drastic increase in phishing and scams aimed at finance departments.
According to the report “[t]he unfortunate byproduct of the accelerated pace in new technology deployment is the commensurate sophistication of cybersecurity threats….There are 6 critically important things that an organization should do to reduce the cybersecurity risk to its treasure payment management system:
- Assess your Existing Security Controls
- Perform a Cybersecurity Risk Assessment
- Conduct Vulnerability Assessments
- Establish an Effective Incident Response Capabilities [sic.]
- Perform Third-Party Supplier Security Risk Assessments
- Be Vigilant to Business Email Compromise [BEC] Scams & Phishing Attacks”
I would add a 7th and 8th:
- Conduct Internal Phishing Attacks
- Conduct In Person Data Privacy + Security Employee Training and an Education Program
Sound measures in our present environment.