CYBERSECURITY
Client Success Story
A globally-recognized bank, with
operations in over 50 countries,
engaged BDO to implement security-enhancing business processes and strategies after recognizing a need to improve its
IT risk profile.
Company Background
& Need
MARKETPLACE CHALLENGES
Core banking systems have been prime targets for recent cyber-attacks. Successful attacks, concentrated in Eastern Europe and East Asia, have resulted in the theft of hundreds of millions of dollars.
As a result, banking and financial industries are under increasing pressure from regulatory bodies to upgrade systems and processes to defend against a continually evolving threat.
BDO's Solution
By conducting a cybersecurity risk assessment, our global cybersecurity team was able to help the client identify vulnerabilities in its cybersecurity processes and strategies.
After initial assessment, the global team was further engaged
to conduct a network vulnerability assessment, penetration testing, and software application security testing services.
Our professionals identified and addressed gaps resulting from the security assessments and testing, bringing the organization within compliance.
Recognizing a need to strengthen their processes and
strategies, the client requested CIO/CISO advisory support and services, including:
Creating an Information Security organization
Enhancing the IT Risk Management organization
Establishing an overall business security strategy
Developing an IT Strategy
Providing program management for the entire regulatory remediation effort
Company Benefits
Mitigated risk against increasingly complex cyber threats
Developed an evolving strategy to continuously improve the organization’s IT risk profile
Conducting ongoing dialogue to share insights and best practices as the cybersecurity landscape evolves
"The three most frequently asked questions I hear from the C-suite on cybersecurity are: 'What should we know'?', 'What should we do?' and ‘How do I assess the quality of our cybersecurity program?' Leaders need to establish the appropriate tone at the top regarding how cybersecurity is everyone’s shared responsibility in a digital world. Establishing a cybersecurity culture has proven to be one of the best defenses against cyber adversaries. It is the people, not the technology, which can be an organization’s greatest defense against a cyber-attack."
Head of U.S. and International Cybersecurity
Gregory A. Garrett
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2017-2018