Cybersecurity Threats for Treasury & Payment Management Systems Report Released

Pactera Technologies N.A., Inc. [www.Pactera.com] has released the report “Cybersecurity Threats for Treasury & Payment Management Systems: Six Things you Should Know to Manage Them.” It is easy to understand and pertinent, particularly this time of year, when we are seeing a drastic increase in phishing and scams aimed at finance departments.

According to the report “[t]he unfortunate byproduct of the accelerated pace in new technology deployment is the commensurate sophistication of cybersecurity threats….There are 6 critically important things that an organization should do to reduce the cybersecurity risk to its treasure payment management system:

1. Assess your Existing Security Controls
2. Perform a Cybersecurity Risk Assessment
3. Conduct Vulnerability Assessments
4. Establish an Effective Incident Response Capabilities [sic.]
5. Perform Third-Party Supplier Security Risk Assessments
6. Be Vigilant to Business Email Compromise [BEC] Scams & Phishing Attacks”

I would add a 7^th  and 8^th:

7. Conduct Internal Phishing Attacks
8. Conduct In Person Data Privacy + Security Employee Training and an Education Program

Sound measures in our present environment.

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