For financial institutions, a cyber-attack that exposes their customers personal identifiable information is bad enough. But even worse is the ‘doomsday’ scenario where the hacker destroys or lock up that data, making it impossible to retrieve. Such an attack could leave a bank helpless, unable to operate for days or even weeks, and potentially damage its reputation for security.
Additionally, if news got out that there was a lockdown in people’s access to their money, it could have a ripple effect on other banks, causing customers to pull their funds in fear a similar attack might cripple their institutions. To guard against that kind of panic, the financial services industry has created Sheltered Harbor, a voluntary initiative that provides financial institutions and their customers with an extra layer of protection.
Matt DeFrain, Director with KPMG LLC’s cyber practice, will explore the scope of the Sheltered Harbor initiative, industry adoption, and key components of the solution at the 2018 Continuity Insights Management Conference, April 23-25, at the Hilton Miami Downtown, Miami, Florida.
Learn more about this case study – Sheltered Harbor: Protection Against Potential Significant Cyber Risk – and the 2018 Continuity Insights Management Conference