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Poor sleep as for cyber-worried treasurers

Cyber worry haunts treasurers

A series of articles in The Global Treasurer digs deep into the emerging threat of internet-related risks – one that alledgedly keeps treasury professionals awake at night.

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Simply because they are the ones holding the money, corporate treasury departments are facing structured IT attacks by anybody from individuals, to crime gangs, and to nation states perhaps exposed to cash-squashing sanctions.

The Global Treasurer launches a series of articles on the topic.

What you don’t know could still hurt you

One main concern is what is called ’zero-day’ vulnerabilities: system deficiencies which are not yet even publicly discovered.

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”Fortunately, these are relatively rare but they are traded on the dark web for significant sums of money and therefore tend to only be used in the biggest of attacks,” writes The Global Treasurer.

Don’t neglect your colleagues

Other main entries for attack include unpatched systems, so called phishing or social engineering, a weakness in a device on a network, and simply human error.

Yet, it could be worth remembering, as one interviewee points out, that 90 percent of tech crimes are committed by employees.

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