Banks rush to protect against data breach fines
Cost of implementing GDPR could reach hundreds of millions for largest banks, say op risk practitioners
Banks are no strangers to the perils of lax data security. The growing frequency and severity of cyber attacks on lenders have made resiliency against external attack banks’ top operational risk priority. To ensure practitioners’ minds are sufficiently focused, however, European supervisors are introducing tough new legislation to incentivise higher data protection standards – seemingly favouring
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