Op risk experts question banks' cyber strategy

"Stupid hurts just as much as malicious," says Mark Clancy at DTCC


Cyber crime generally conjures up images of organised criminals and foreign spies operating out of secret underground lairs, or basement-dwelling teenage hackers.

The reality is more mundane.

"The danger is people think of the funky, James Bond-type hacking when they talk about cyber," says Sam Lee, the UK-based head of operational risk at Sumitomo Mitsui Banking Corporation (SMBC). "I think it's dangerous to do that."

Things as simple as an unattended desktop or an unprotected password are the

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