Fraud Management & Cybercrime , Fraud Risk Management , Governance & Risk Management

Sizing Up Cyberthreats in the Financial Services Sector

Valerie Abend of Accenture Offers Overview of Insider Threats, Other Issues
Valerie Abend, global banking security lead, Accenture

What are the top cyberthreats facing the financial services sector? Valerie Abend of Accenture describes the findings of a new report on the subject.

See Also: Hunting Money Mules with a 360-Degree View of Identities

The rapid transition to a remote workforce raised new concerns about insider threats, she points out.

”It can be a negligent person, somebody who is working extensive hours and is just tired, somebody who is a compromised person - meaning their credentials were … taken over - or a malicious insider,” Abend says.

In a video interview with Information Security Media Group (see audio link below photo), Abend discusses:

  • Insider and third-party risks;
  • The growth of business email compromise attacks tied to government relief loans;
  • The rise of “deep fakes” in social engineering attacks.

As Accenture's global banking security lead, Abend advises C-suite executives on how to manage cyber risks and build resilient business strategies. With more than 25 years of security experience, she has spearheaded enterprise and sectorwide security and resilience strategies, public-private partnerships and cybersecurity regulatory oversight strategies. Previously, she served as the senior critical infrastructure officer for the U.S. Department of the Treasury's Office of the Comptroller of the Currency. In this role, she conceptualized and led the agency's cybersecurity and resilience regulatory strategy and policies.

About the Author

Nick Holland

Nick Holland

Former Director, Banking and Payments

Holland focused on the intersection of digital banking, payments and security technologies. He has spoken at a variety of conferences and events, including Mobile World Congress, Money2020, Next Bank and SXSW, and has been quoted by The Wall Street Journal, CNN Money, MSNBC, NPR, Forbes, Fortune, BusinessWeek, Time Magazine, The Economist and the Financial Times.

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