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Cyber security is important for everyone

Nicholas Witchell, Chair of Payments UK Cyber Security and Fraud Seminar, explains how important the topic of cyber security is to everyone and the value in bringing together the thinkers in this area to exchange information.

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Comments: (1)

Chandra Shekaran
Chandra Shekaran - Tata Consultancy Services - Bangalore, India 19 November, 2015, 16:59Be the first to give this comment the thumbs up 0 likes

I think the comment about information exchange is absolutely important. Not many of the banks (who are challenged by cybersecurity threats) exchange information within the banking community, which can make other players vulnerable, the industry and the consumer/business community at risk. First, there must be a consortium set up (and possibly headed by the payments council) to exchange threat intelligence, and secondly, financial service players must invest in newer technologies that can predict emerging forms of threat and mitigate against them. Of course this calls for significant investments, but this becomes inevitable as we the global economy moves into the digital age, where dyanmic data becomes the main source for identifying and protecting our customers.