Financial firms must be prepared for cyber infiltration – panel

Focus needs to be on reacting, not stopping every threat

Waters USA 2014 cyber security panel: (l to r) Ryan Bateman, Adam Fletcher, Anthony Concolino

As the number of reported cyber security breaches continues to rise, a chilling realisation has swept over the financial services industry: a disruption is no longer a matter of if. It's a matter of when.

Every week, the media is seemingly reporting on another firm that has suffered a lapse in security. Firms are starting to come to the understanding that cyber security isn't a matter of simply keeping threats out, but recognising how to identify and react when a breach does occur.

"Philosophica