Russia’s encroachment into Ukraine was met with a swift, mainly financial rebuke from the West, including its major banks, which have been willing to suffer, in some cases, heavy losses as they unwind their business dealings in the offending country. Even so, it could be months, even years, before these big banks completely exit Russia.
Banks and other financial firms top a list they wish they weren’t even on: recipients of the most cyber-attacks. Banks are the targets of an ingenious group of cyber-criminals with sophisticated cyber-weaponry, but they are not defenceless. What should banks be looking out for? And how can they defend themselves against the onslaught?