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Finance and Retail

Protecting the national financial system from cyber attacks

Protecting the national financial system from cyber attacks

Financial institutions are the main target of cyber attacks. Banks are where the money is, and for cybercriminals, the attack on banks offers multiple avenues of profit through extortion, theft and fraud. Regulators are realizing and implementing new cyber risk controls to address the growing threat to the banks they supervise.

In Brazil, the Central Bank will put into effect in July 2021 a new resolution on cybersecurity for financial institutions, BACEN CMN 4.893, which will replace BACEN CMN 4.658 and 4752. This new resolution deals with updates on cybersecurity policy and on the requirements for contracting data processing and storage and cloud computing services to be observed by financial institutions authorized to operate by the Central Bank of Brazil. It reinforces that the cybersecurity policy and the action and incident response plan must be documented and reviewed at least annually.

TI Safe has experience in this segment. Through the ICS.SecurityFramework methodology and a complete team of cybersecurity experts, it is ready to protect the networks and control systems used by banks, financial institutions and retail companies.
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