Only 38% of the companies in the credit and financial sector did not experience a leakage of sensitive data in the first half of 2017. All other companies had to stop theft attempts or deal with their consequences.
The list of human-related risks experienced by financial services organizations includes:
- Corporate fraud and profiteering, such as payoff, embezzlement, etc.
- Leakage of VIP accounts and transaction data
- Theft or leakage of bank card details
- Disclosure of employee and client personal data
- Leakage of auditor reports
- Disruption of IT infrastructure
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The financial, reputational and regulatory impact of human-related risks in the financial sector can be catastrophic. An employee, contractor or third party can provoke the interruption of a financial institution’s business or give the edge to competitors because they have access to confidential data and tend to act in their own benefit.
A financial service organization has to control the following:
- VIP accounts
- Data on cash logistics
- Client bases (information about legal entities and individuals)
- Newly announced services
- Transaction information
- Shareholder data
- Personal data on employees and clients
- Data on debtors
- Auditor reports