China Tech Threat is pleased to introduce High Tech Heist: Vlog Series on Banking Cybersecurity.
In the first of the series, Dr. Roslyn Layton speaks with Tom Vartanian, a former federal banking regulator and author of 200 Years of American Financial Panics: Crashes, Recessions, Depressions and the Technology that Will Change It All.
“Financial institutions are the number one target of hackers around the planet,” Mr. Vartanian explains. “And that’s not hard to understand because, as Willie Sutton said, that’s where the money is.”
Financial organizations must realize that “the bank is the front door, the backdoor is an endless supply chain of vendors and people suppling everything that bank provides – online services, offline services, physical services,” he adds.
As Dr. Layton has cautioned before, financial institutions cannot wait for government regulators to address cyber threats. As Mr. Vartanian puts it, “The one thing I know from being a former bank regulator in the federal government is, when 23 agencies are responsible, nobody is responsible.”
Please take a moment to check out the new series here, and stay tuned for more in this series.