Preparing for the perfect storm?

SECURING FINANCIAL SERVICES

26th January, 2023 • Park Plaza Victoria, London, UK

War, a winter energy crisis and economic headwinds spell trouble. Banks are on the frontline.

 

Cyber losses rising, more to come

According to the BIS, most central banks believe that the loss in percent of annual GDP that could result from a systemically relevant cyber attack on a financial institution, could be between 5% and 10%. That is an astonishing number and reflects the extent to which the financial sector provides critical infrastructure to nation states.


Banks themselves report that losses from cyber attacks have increased in 2020-21, relative to the pre-pandemic era. Asked, “By how much do you think have annual losses from cyber attacks increased in 2020-21 in your financial sector, relative to the pre-pandemic period?” around 30% of institutions in advanced economies said that losses were up by more than 20%.


These are worrying figures because we have yet to see the full effects of the war in Ukraine and the economic stresses caused by disruptions to global markets and by rising interest rates. Cyber attacks on banks actually fell at the start of the Ukraine conflict as hackers on both sides focused on enemies closer to home. That is changing and Western infrastructure is now a target.

 

Closer to home, economic stress increases cyber risks on both sides: economically motivated hackers maximise their attempts a profitability in tougher markets; but also, economically stressed insiders are more motivated to become malicious and may also be less focused on maintaining security hygiene.


So, what type of cyber incidents does result in the largest monetary losses for financial institutions right now? Advanced persistent malware and ransomware attacks rank highest, with supply chain attacks also mentioned prominently. In general, denial of service attacks are deemed to be the least costly type of attack.


In response to the rising frequency and severity of cyber incidents, respondents to the BIS survey state that financial institutions should prioritize their investments in cyber security towards training staff on cyber security, ensuring that business continuity is maintained, and managing their external dependencies.

 

This doesn’t seem enough. Given these increased losses and the potential for significant hits to GDP, how should banks be strengthening their cyber defences at a time when geopolitical tensions make attacks on CNI ever more likely?


 

Securing Financial Services will look at cybersecurity at a time of crisis. Join our real-life case studies and in-depth technical sessions from the security and privacy teams at some of the world’s most admired brands.

  • Cloud incident response

    • Recent Cloud outtages have not simply disrupted low-level infrastructure, they have disabled cybersecurity solutions and sometimes shut down corporate access to critical network assets.
    • As well as managing Cloud security, CISOs need good Cloud incident response. How are they going about it?
  • The rise and rise of effective cybersecurity regulation

    • Data privacy is only a small part of the picture.
    • Regulators are looking at operational resilience in key sectors like finance – securing the wholesale payments market is a priority and others will follow.
    • They are looking at disclosure and fining the miscreants. How to comply with new regimes?
  • Cloud native next

    • Applications have become increasingly complex, with users demanding more and more.
    • They expect rapid responsiveness, innovative features, and zero downtime.
    • Performance problems are no longer acceptable - they'll easily move to your competitor.
    • Should you go Cloud Native? What does this mean for security in practice?
  • Securing the technologies of the future

    • Quantum computers, web3, multiple types of distributed ledger technology, augmented and virtual reality, the Metaverse, AI-driven applications and even organisations, automation as a service
    • These technologies are happening now and they all have security implications
    • Who is thinking about how to secure future tech?
  • Embracing risk management

    • Until cybersecurity is truly seen as risk management and not a whack-a-mole IT problem, the hackers will continue to evade outmoded control frameworks
    • Part of this is down to CISOs, part of it to Boards and part of it to solution providers
    • The banks have done it. When will the rest of business catch up?
  • From cybercrime to cyberwar

    • Blurred lines between cyber-spies, cybercriminals and cyber-armies have transformed the (in)security landscape
    • Nation-state exploits are now widely available
    • How can the various elements of government work better with private sector solution providers and endusers to build security that can cope with not-quite-nation-state attackers?

Who Attends

Job titles

Head of Global IT Security
Managing Director Fraud Risk
CISO
Security Governance, Risk and Compliance Manager
Data Loss Prevention - EMEA Operations Lead
Group Head of ICT Risk (Tech. & Cyber) Controls
Strategic Cyber Threat Intelligence Lead
Head of Financial Crime, Info Sec & BCP
Head of Security Architecture
Head of Compliance & Financial Crime
Third Party Risk Consultant
IT Systems Continuity and Integration Manager
Head of Integration, Planning & Development, Compliance Assurance
Information Security Manager
Business Information Security Officer & Third Party Officer
Head of Information Security
CISO
Cyber Security Manager
Head of IT Governance, Risk and Compliance
Senior Information Security Consultant
Group Head of IT Infrastructure and Cybersecurity Audit
Chief Information Security Officer
Compliance Manager & MLRO - UK
Head of Information Security & Audit
Senior Information Reporting Officer
Manager - IT
Senior Server Engineer
Cloud Security Architect
IT Risk Manager
Cyber Security Manager
Senior Technology Risk Manager
Group Head of Risk Domains (Cyber & Tech) and Control Plans
Head of Operational & Technology Risk / CISO
Global Head of IT, Internal Audit
Head of Threat
Head of Security and IT Policy
Lead Information and Cyber Security Specialist (Assurance)
Information Security Programme Manager
Global Infrastructure Security Engineering Manager
VP, Cyber Investigations and Insider Threat Manager
Senior Information Security Consultant
Information Security and Resilience, Operational Risk Oversight Manager
Head of Risk
Global Head - Security Operations
Head of Payment Security
Senior Vice President, Head of Information Security
Cyber Security Manager
Information Security Manager
VP Investigation
PCI Coordinator
Threat Intelligence Manager
Senior Special Agent - Global Security
Vice President - Strategy, Cyber & Intelligence
Head of Investigations and Monitoring
Technology Compliance and Operational Risk Director
Principal Cyber Risk Engineer & Technology Industry Practitioner
Head of Information Security Advisory & Operations
Group Security Operations Manager
Head of Technology
Global CISO
Information Security Officer
Global CISO
Security Operations (SOC) Manager
IT Risk Manager
CISO
Divisional CISO UK, CGC IT, CFO Tech & Platforms IT
Vice President; Information Security Officer
Security Business Partner
Assistant Director of Risk
Group IT Manager
Leader of Network Security EMEA
Security Architect
Senior IT & Cybersecurity Risk Manager
EMEA Operational Security Manager & Business Line Security Officer
CISO
Senior Security Consultant
Technology Risk Management Director - GRC and Quantitative Risk Analysis
Financial Crime and Data Protection Consultant
UKI Cyber Operations Lead
Head of IT and Change
Future Fraud Strategy
Chief Risk Officer
Group Head of Cyber Risk Intelligence
Manager Information Security & Resilience | Operational Risk Oversight
Head of Group-wide Security Optimisation
Director of Cyber Security UK
Technology and Resilience Risk Manager
Leader Payment Systems
Head of IT Risk and Cyber Security
Chief Risk Officer
Acting Chief Information Security Officer, Europe
GRC Manager
Senior Advisor, Information Technology
Manager – Strategy & Intelligence; Investigations, Insider Risk and Data Loss Protection
Chief Information Security Officer
Chief Security Officer EMEA region
Risk Governance Manager (Technology and Cyber)
Head of Information Security
Head of Financial Crime & Compliance Management
Manager of Security Operations, Engineering & Administration
Information Security Strategy and Architecture
Principal Investigations Manager; Physical Security & Investigations
Head of IT Strategy, Governance and Reporting
Senior Specialist Digital Fraud Strategy
Global Head of Information Security
Information Security Officer
Vice President IT Risk - Security Architecture Risk Assessment
Director of IT Governance & Risk Manager

Organisations

Rothschild & Co
Citigroup
Sumitomo Mitsui Banking Corporation
Aldermore Bank PLC
BNY Mellon
BNP Paribas
Refinitiv
Together Money
Travelex Holdings
Gravity Bank
Vanquis Bank
AmTrust International
HSBC
e-finance
Citigroup
Unum
Koine
AerCap
Brewin Dolphin
Phoenix Group
HSBC
LV= Liverpool Victoria
EMQ Inc.
Paragon Customer Communications
PRIMIS Mortgage Network
Activ Trades
SCS Europe
Aviva
Newcastle Building Society
Lloyds Banking Group
Credit Suisse
BNP Paribas
BlueBay Asset Management plc
Travelex Holdings
Quilter plc
Aldermore Bank PLC
Metro Bank
Schroders
London Stock Exchange
Barclays
Fidelity International
TSB Bank
XPS Pensions Group
QBE Insurance
Barclaycard
Redington Limited
Tesco Bank
Yorkshire Building Society
Barclays
Anderson Zaks
Royal Bank of Scotland
American Express
MasterCard
Bank of England
Bank of America Merrill Lynch
Chubb
Quilter plc
Quilter plc
DNA Payments Ltd
First Sentier Investors
GAM Investments
Uphold Inc.
Brewin Dolphin
Brewin Dolphin
Volkswagen Financial Services AG
Credit Suisse
Bank of America
NatWest Group
NS&I (National Savings and Investments)
International Currency Exchange Plc (ICE Plc)
FIS Global
Bank of Ireland
Scotiabank
Société Générale Corporate and Investment Banking - SGCIB
B89
Co-operative Bank plc
AIG Europe
Royal London Group
Aviva
Ipswich Building Society
Santander
Credit Suisse
BNP Paribas
TSB Bank
Prudential
UBS
Close Brothers Group
HSBC
ICBC Standard Bank
thinkmoney
Great-West Lifeco Europe
NEST Corporation (National Employment Savings Trust)
Redwood Bank
Lloyds Banking Group
Man Group Plc
Mapfre Abraxas
BNP Paribas
Jaja Finance
NEST Corporation (National Employment Savings Trust)
Great-West Lifeco Europe
AIB
Barclays
MUFG - Mitsubishi UFJ Financial Group
NewDay
VISTRA
Zenith Bank (UK) Ltd.
MSCI Inc
Commerzbank

Company headcount

1000-1999
10,000+
5000-9999
500-999
10,000+
10,000+
10,000+
500-999
5000-9999
500-999
1000-1999
2000-2999
10,000+
2000-2999
10,000+
10,000+
1-99
100-499
2000-2999
5000-9999
10,000+
5000-9999
100-499
1000-1999
500-999
100-499
1-99
10,000+
1000-1999
10,000+
10,000+
10,000+
100-499
5000-9999
3000-4999
500-999
3000-4999
3000-4999
3000-4999
10,000+
5000-9999
5000-9999
1000-1999
10,000+
10,000+
100-499
3000-4999
3000-4999
10,000+
1-99
10,000+
10,000+
10,000+
2000-2999
10,000+
10,000+
3000-4999
3000-4999
1-99
100-499
500-999
100-499
2000-2999
2000-2999
10,000+
10,000+
10,000+
10,000+
100-499
3000-4999
10,000+
10,000+
10,000+
10,000+
1-99
3000-4999
2000-2999
2000-2999
10,000+
100-499
10,000+
10,000+
10,000+
5000-9999
3000-4999
10,000+
2000-2999
10,000+
1000-1999
1-99
10,000+
100-499
1-99
10,000+
1000-1999
100-499
10,000+
1-99
100-499
10,000+
10,000+
10,000+
10,000+
1000-1999
3000-4999
100-499
3000-4999
10,000+


Venue

Park Plaza Victoria, London

vpp

Location:
Park Plaza Victoria
239 Vauxhall Bridge Road, London, UK, SW1V 1EQ
Telephone: 0844 415 6752
 

Directions:
Please click here