Top 10 op risks 2018: data compromise

Banks fearful of data breach missteps as GDPR looms

The collection and storage of vast quantities of personal information – the lubricant of a modern, digitally focused business – comes with a responsibility to protect that information, as banks are discovering.

Cyber theft, unauthorised access, accidental disclosure, employee negligence are all ways in which this data can fall into the wrong hands. To combat this threat, national authorities are tightening up their supervision of this area, with incoming laws such as Europe’s GDPR, or General