Singapore banks ramp up cyber scenario analysis

StanChart building out scenario library as dealers up use of technique to gauge spending on defences

Consumer data is hot property in Singapore – hackers are after it and banks are huge holders of it. And after last year’s major data breaches impacting the country’s healthcare sector, a successful data heist affecting financial firms is seen as only a matter of time: a poll of attendees at Risk.net’s OpRisk Asia conference yesterday (May 29) found 88% believed breaches at banks were inevitable.

If a successful attack is a given, one technique banks can use to gauge how bad the consequences